On January 28, 1986, nearly 30 years ago, the space shuttle Challenger broke apart 73 seconds into its flight, leading to the tragic deaths of its seven crew members.[1] As the spacecraft disintegrated over the Atlantic Ocean, the paradigm of risk management shifted from reactive to proactive. Taxonomies, frameworks, methodologies and tools developed rapidly to […]

Thursday, January 29, 2015 Collas Crill and Comsure will host a free Risk Outlook Workshop in early February. This year looks to bring with it even more regulations and greater demands for transparency, putting pressure not only on compliance functions but everyone within a financial services organisation from the top down. With a number of […]

Glass-half-full types will be tempted to toast new evidence that the risk of system-shocking financial catastrophe seems to be behind us. Economic and financial threats have dominated the top five list of global risks for the past decade, according to the World Economic Forum’s annual Global Risks reports. Now they scarcely register. “This year features […]

The Jersey Financial Services Commission (JFSC) [Issued: March 2010] published a report on findings into its Anti-Money Laundering examination of Trust Company Business in Jersey. TRUST COMPANY BUSINESS ON-SITE EXAMINATION PROGRAMME 2009 – SUMMARY FINDINGS http://www.jerseyfsc.org/pdf/TCB_2009_Examination_feedback_March_2010.pdf In the report the JFSC reported on some the following matters 1.Business Risk Assessment and Strategy 2.Customer Profiling and […]

Most companies understand the strategic benefits of an effective system for internal control. In 2013 alone, Thomson Reuters tracked over 26,000 regulatory changes, and with emerging risks on the horizon, many organizations are seeking new perspectives on how to put principles into practice in their complex operations. The COSO Internal Control – Integrated Framework (2013) […]

Compliance functions as strategic partners in the new regulatory world  How regulated firms (re-)structure their Compliance functions to respond to, or preferably pre-empt, these complex challenges will encompass the range of culture, strategy and people. Not only the function’s composition, but also its role and voice within the business and overall risk management framework, should […]

 The Basel AML Index is a composite country risk ranking developed by the Basel Institute on Governance and its expert team from the International Centre for Asset Recovery (ICAR). The purpose of the Basel AML Index is to analyze countries risk regarding money laundering / terrorism financing, and other related factors such as corruption and […]

No matter how strong a company’s compliance program, there is always a risk.  No matter how many times employees are trained, complete certifications and are reminded of their FCPA compliance obligations, there is always a risk.  All you have to do is look at the facts of the Morgan Stanley case which is usually cited […]