Building Optimal Risk and Compliance Teams

Since the onset of the COVID-19 pandemic and the series of resultant existential, economic and societal crises, financial institutions are relying more than ever on their risk and compliance teammates. Targeting talent-externally and internally Today, risk and compliance professionals must not only...

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Bibliographic Details
Published in:	ABA banking journal 2022-07, Vol.114 (4), p.16-17
Main Author:	Wilson, Elisabeth A
Format:	Magazinearticle
Language:	eng
Subjects:	Artificial intelligence Climate change Climatic changes Compliance COVID-19 Digital currencies Employees Espionage Financial institutions Pandemics Professionals Resignations Social aspects
Online Access:	Get full text
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Summary:	Since the onset of the COVID-19 pandemic and the series of resultant existential, economic and societal crises, financial institutions are relying more than ever on their risk and compliance teammates. Targeting talent-externally and internally Today, risk and compliance professionals must not only stay abreast of furiously escalating emerging risks and rapidly maturing regulatory expectations, but they must display a level of expertise in myriad complex (and often nebulous) subjects such as ESG, climate change, cryptocurrency, artificial intelligence, technology vulnerabilities and third-party risk management. Reminding risk and control professionals-current employees, newly promoted teammates and potential recruits-of their essential purpose and valuing them appropriately for their unique contributions will be essential to safeguarding, not only financial institutions, but our broader economy.
ISSN:	0194-5947 2161-5101