Compliance Insights

What Role Should Compliance Play in ESG?

The big picture: Compliance plays an important role in the governance and oversight structures of a financial institution. As with other regulated activities of an institution, compliance teams should have a seat at the table when implementing ESG initiatives. 

Why it matters: Regulatory expectations for ESG are increasing and managing regulatory and reputation risk will become more important than ever. While international bodies are likely to align existing ESG frameworks and standards over the upcoming months, ESG topics will remain complex and Compliance will need to have a greater role in navigating them. 

The bottom line: The knowledge, skills and experience of compliance teams mean that it is vital that they step forward and bring this understanding to bear in ESG. To ensure ongoing compliance with a growing number of ESG-related regulations, a holistic framework for identifying, measuring, managing and reporting ESG risks and mitigation strategies is needed. 

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Recent Publications & Insights

Flash Report | U.S. Banking Regulators Finalise (Finally) Revised Third-Party Risk Management Guidance

The recent issue of the “Interagency Guidance on Third-Party Relationships: Risk Management” finally brings consistency in regulatory expectations across the three primary financial regulators within the United States. The key changes that were made from the original proposal highlight the importance of taking a right-sized approach to third-party risk management for each organisation.

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Insights Paper | Reshaping Loan Servicing Compliance

Servicers in lending organisations are challenged with navigating economic headwinds that are pushing delinquency- and default-rate projections higher. This task has been complicated by increased global regulatory focus and dynamic customer expectations, which are further providing impetus for servicers to reassess existing strategies and processes from a compliance perspective while continuing to evaluate their impact on operational efficiency and resiliency.

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Economic Conditions and Regulatory Priorities

Risky Women Podcast | Economic Conditions and Regulatory Priorities

In this episode of Protiviti's Executive Perspectives on Top Risks Series on Risky Women radio, Maryann Kennedy, Senior Managing Director at Protiviti, speaks with Grovetta Gardineer who is the Senior Deputy Comptroller for Bank Supervision Policy at the Office of the Comptroller of the Currency (OCC). Maryann and Grovetta discuss 2023 top risk and regulatory priorities in the current economic environment.

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Economic Conditions and Regulatory Priorities
6 Key Steps Financial Institutions Can Take to Better Manage Cybercrime and Financial Crime

6 Key Steps Financial Institutions Can Take to Better Manage Cybercrime and Financial Crime

Sharing information and lessons learned has become increasingly critical for the effective management of cybercrime and related financial crime. This need requires financial institutions to rethink how they have historically managed these risks.

Read to discover six ways your organisation can integrate and improve cybercrime and financial crime risk management.

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