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Expectations and Demands on Compliance and Compliance Officers in Banks and Other Financial Institutions

Compliance in banks and other financial institutions is a control function that provides advice, training and education regarding financial services regulation to business units and senior management, and that undertakes to monitor and review business activities with respect to such regulation. Compliance protects firms by partnering with other control functions and working with management to ensure that potential regulatory risks and liabilities are identified, controls put in place are appropriately monitored. In providing these services, a strong compliance function is critical to sound business practices and a financial institution’s ability to instill a culture of compliance.



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