Professional Documents
Culture Documents
COMPLIANCE
ACTION PLAN
for FSIs
Compliance is an area of expertise that has never been in greater need. To manage and mitigate risk,
improve efficiencies and protect their brand and reputation, FSIs must have a comprehensive approach to
regulatory compliance, risk and audit management.
Following a thoughtfully prioritized action plan like this one can help FSIs win at compliance.
Engage Leadership
True commitment to compliance is
impossible if it doesnt come from
the top. Senior executive
management, owners and operators,
and the board of directors must
promote a culture of compliance
and should receive compliance
training, as well as regular insight into
regulatory programs and updates.
SOURCES
(2014, August 11). Advisory to U.S. Financial Institutions on Promoting a Culture of Compliance. Advisory, Financial Crimes Enforcement Network, United States Department of the Treasury. doi:FIN-2014-A007
Andrews, W. (2013). Magic Quadrant for Enterprise Video Content. Gartner Research.
English, S., & Hammond, S. (2014). Cost of Compliance 2014. Retrieved from http://accelus.thomsonreuters.com/: http://accelus.thomsonreuters.com/sites/default/files/GRC00814.pdf
Integrated Risk and Compliance Management for Banks and Financial Services Organizations: Benefits of a Holistic Approach. (2015, Jan 30). Retrieved from MetricsStream: http://www.metricstream.com/whitepapers/html/financial_services.htm
J, R., & Colheart, V. (1979). The effect of pictures on the retention of novel words and prose passages. Journal of Experimental Child Psychology.
McQuivey, J. L., de Lussanet, M., & Wilkos, D. (2008). How Video Will Take Over the World: What the Rise of OmniVideo Means for Consumer Product Strategy Professionals. Forrester
Research.
Murphy, E. V. (2015). Who Regulates Whom and How? An Overview of U.S. Financial Regulatory Policy for Banking and Securities Markets. Federation of American Scientists. Congressional Research Service. Retrieved January 15, 2015, from http://fas.org/sgp/crs/misc/R43087.pdf