Multiple emerging environmental, social, and governance and disclosure standards pose legal and operational risks to many companies, but also opportunities to improve reporting and get ahead of requirements, a new report found.
Surveys & Benchmarking
Posted inSurveys & Benchmarking
Compensation survey pegs annual pay at $419K for public company CCOs
Annual pay and bonus compensation for chief compliance officers at public companies jumped to $419,000 since 2023, while CCOs at private companies saw a slight decrease to nearly $300,000, according to a new compensation survey.
Posted inAccounting & Auditing
LexisNexis survey: Compliance costs soared for U.K. banks in 2023
Nearly all but a tiny minority of financial institutions saw their costs of financial crime compliance rise in 2023, a survey by LexisNexis and Oxford Economics found.
Posted inRisk Management
AI can help reel in ‘unsustainable’ breach costs, IBM report finds
The global average cost of a data breach jumped to an all-time high for the second year in a row, but companies can reel in the ballooning drag on profits by adopting artificial intelligence, according to an IBM report.
Posted inSurveys & Benchmarking
Compensation survey finds average annual CCO pay jumped above $400K
A new compensation survey found base pay for chief compliance officers has risen 36 percent since 2021 to an average of more than $403,000.
Posted inEthics & Culture
Risk visibility striking fear in companies onboarding new customers
A lack of risk visibility is causing companies to reject customers–and potentially lose money–over fears they might be in danger of violating rules around anti-money laundering and sanctions regulations.
Posted inEthics & Culture
Survey tackles aligning cross-generational views of ethics in the workplace
Companies may need to examine employees by age group to find out how likely some workers might be to ditch compliance to complete tasks.
Posted inData Privacy
Citi report: GenAI revolution will bring increased need for compliance
A new report on the use of artificial intelligence in financial services predicts that the technology will drive profits, disruptions, and change over the next decade.
Posted inRisk Management
Panelists break down robust sanctions landscape at TPRM Summit
Sanctions compliance officers face myriad challenges as complex geopolitical situations heighten risks worldwide, experts discussed during Compliance Week’s Third-Party Risk Management & Oversight Summit.
Posted inRisk Management
FinCEN BSA data: Fraud, money laundering top suspicious activities
The Financial Crimes Enforcement Network published its latest collection of Bank Secrecy Act data, including number and type of suspicious activity reports.
