Compliance Function in Banks: Back to the basics (Inaugural address by Dr. K. C. Chakrabarty, Deputy Governor, Reserve Bank of India at the launch of certificate programmes on Compliance Function and Training on July 12, 2013 in Mumbai) https://www.taxtmi.com/news?id=11383 The compliance function in banks must encompass adherence to internal policies, regulatory directions and legal obligations, supported by a structured framework consisting of a compliance policy, organisational structure, manuals/checklists, trained personnel and compliance audit. Independence and seniority of compliance officers, action based verification, coordination with audit, Board-level oversight and continuous training are essential to identify, mitigate and report legal and reputational risks and to embed a risk driven compliance culture aligned with the bank's business profile and risk appetite. en-us Tue, 16 Jul 2013 12:49:32 +0530 Tue, 16 Jul 2013 12:49:32 +0530 TaxTMI RSS Generator Compliance Function in Banks: Back to the basics (Inaugural address by Dr. K. C. Chakrabarty, Deputy Governor, Reserve Bank of India at the launch of certificate programmes on Compliance Function and Training on July 12, 2013 in Mumbai) https://www.taxtmi.com/news?id=11383 The compliance function in banks must encompass adherence to internal policies, regulatory directions and legal obligations, supported by a structured framework consisting of a compliance policy, organisational structure, manuals/checklists, trained personnel and compliance audit. Independence and seniority of compliance officers, action based verification, coordination with audit, Board-level oversight and continuous training are essential to identify, mitigate and report legal and reputational risks and to embed a risk driven compliance culture aligned with the bank's business profile and risk appetite. News - Tue, 16 Jul 2013 12:49:32 +0530 https://www.taxtmi.com/news?id=11383