Difference between revisions of "Compliance Function"
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Revision as of 15:44, 4 October 2021
Contents
Definition
The Compliance Function describes staff (employees) of an organization that are carrying out Regulatory Compliance.
Structure
The particular organisational structure and naming conventions may vary<ref>BCBS 113>/ref>
- In larger banks, compliance staff may be located within operating business lines
- Internationally active banks may also have group and local compliance officers
- In smaller banks, compliance function staff may be located in one unit.
- Separate units have been established in some banks for specialist areas such as Data Protection and the prevention of Money Laundering and terrorist financing
