By Bora Yagiz, Compliance Complete
NEW YORK, Mar. 20 (Thomson Reuters Accelus) - The increasingly important role compliance risk management plays in the banking sector is demonstrated in areas ranging from reorganized risk departments to clearer reporting lines and more rewarding career paths, according to a report by the financial consultancy Accenture.
“The roles of the risk, and especially of the compliance, departments have increasingly been gaining stature within banks in the last five years or so,” said Steve Culp, senior managing director of finance and risk services at Accenture. “Banks are more frequently increasingly adopting organizational structures that connect and align the compliance officers more closely with their decision-making bodies, such as with senior management or the board.” (more…)