Defining and Building Effective Compliance Programs - What’s on the Horizon?

In this five-part podcast series, sponsored by K2 Intelligence FIN, we have considered defining and building effective compliance programs. I have been joined in this series by Michelle Goodsir, a Managing Director at K2 Intelligence, and Gail Fuller, Financial Integrity Network (FIN) Vice President. Michelle has 25 years of financial crime compliance experience which includes fraud risk management, anti-bribery and corruption, corporate security and investigations, sanctions, and Anti-Money Laundering (AML) program experience working within the financial services industry and the US government. Gail focuses on developing, refining, and implementing FIN’s quantitative and qualitative risk rating tools. She leads engagements focused on helping FIN’s jurisdictional and private sector clients understand their exposure to financial crime risk and develop and implement strategies to mitigate their risks.

Over this series we have considered key challenges in compliance, why compliance needs a seat at the table, how to do compliance on a budget; training and culture and what is on the horizon. In our conclusion, Part 5, I visit with Gail Fuller as we look into that veiled land of the future and view what’s on the horizon for compliance. Highlights include:

• What are regulators looking for when it comes to compliance? Regulators are looking for professionals to be proactive and creative problems solvers. 
• If compliance was an area that was previously not sufficiently funded, what are three things people need to do now if things are cut even further? Reinforce your commitment to compliance; rethink geographic distribution of your compliance team; and think through technology investments.
• Thinking about this whole series, we talked about a lot of tips… what are the areas you’d suggest our listeners focus on as they look to rebuild or enhance their programs? Be sure to communication your compliance priorities clearly, leverage personnel to more fully operationalize compliance and then harness and pursue technologies.

Resources

K2 Intelligence financial crimes risk & compliance page: https://www.k2intelligence.com/en/services/our-practices/financial-crimes-risk-and-compliance 

K2 Intelligence AML page: https://www.k2intelligence.com/en/services/our-practices/financial-crimes-risk-and-compliance/anti-money-laundering-compliance

K2 Intelligence Anti-corruption page: https://www.k2intelligence.com/en/services/our-practices/financial-crimes-risk-and-compliance/anti-corruption

K2 Intelligence DOLFIN: https://www.finintegrity.com/dolfin.html