Compliance Failure: Examples, causes, risk mitigation, and recovery - Webinar

  • ID: 3388743
  • Webinar
  • 60 Minutes
  • Redstone Learning
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Affirmative action affects more than you think, and you may want to take note because affirmative action as we know it has dramatically changed. This webinar briefly outlines the regulatory environment and new requirements that went into effect over the last several months so that your plans are ready for increased scrutiny in the coming year. The OFCCP’s regulatory agenda demonstrates OFCCPs intent to aggressively enforce the laws under its jurisdiction and to strengthen the regulations that implement those laws. Moreover, all of the developments over the last four years reflect the OFCCP’s recently stated belief that affirmative action can no longer be measured by good faith efforts. Indeed, both proposed and implanted changes to compliance requirements reflect a push by the OFCCP for federal contractors to engineer results, and that trend continued right through 2014 affecting all plan designs for 2015.

Course Objective:

- What causes compliance failures?
- How can they be identified?
- How were regulators dealt with?
- How do they get fixed?

Course Outline:

Real case studies will be the basis of the course:

- Common AML compliance failures.
- Extraordinary AML compliance failures (intentional at the executive level).
- Complex, high-volume mortgage processes compliance failures.
- Widespread SOX failures (Sarbanes-Oxley Act) primarily control breakdowns leading to reconciliation breakdowns and incorrect reporting.
- A broad failure of licensing controls where the company providing insurance products in the name of several major banks.

For each case we will look at:

- What was the cause of the compliance failure
- How was a problem identified (red-flags, check list items, audit steps) and communicated internally (escalation process)
- What was done with regard to communication with regulatory authorities
- What did it take to investigate and address the failures
- What internal controls and risk mitigation steps were taken to prevent recurrence

Target Audience:

This webinar will provide valuable assistance to all personnel in any role in compliance in banks and financial institutions.

- Designing an overall compliance system
- Compliance assurance
- Managing the Investigating of compliance failures
- Analyzing risk and exposure
- Managing compliance within Business Units
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Jim George is an independent consultant to banks focusing on issues of risk and compliance, AML, and fraud. He brings over 25 years as a consultant to major banks in Associate Partner and Principal roles at PriceWaterhouse-Coopers Consulting, IBM Consulting in Bank Risk and Compliance, and Andersen Consulting (now Accenture).

He has also been SVP Operations for a major Insurance Company providing insurance outsourcing services to the banking industry. Jims work has included projects in AML and fraud investigation, prevention, identity/KYC issues, and related systems. His background includes work in bank operations and payments strategy, systems, re-engineering, and quality improvement.
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