Defining and Building Effective Compliance Programs - The Biggest Issues in Compliance Today

In this five-part podcast series, sponsored by K2 Intelligence FIN, we consider defining and building effective compliance programs. I am 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 will consider 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 Part 1, I visit with Michelle Goodsir on the biggest challenges in compliance today. Some of the highlights include:

• What are the biggest compliance issues facing banks in the U.S.? They include coronavirus implications; impact of economic crisis; costs of compliance programs; maintained expectations from regulators. 
•  What are some of the global challenges emerging? They include the regulatory focus on AML and sanctions; managing competing needs of compliance programs; incorporating and enhancing technology.
• How can these organizations keep pace? You should prepare now for challenges later; managed services; leveraging teams for cross-functional needs.

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