The importance of compliance in banking

Term Paper (Advanced seminar) , 2020 , 17 Pages , Grade: 2,0

Business economics - Banking, Stock Exchanges, Insurance, Accounting

This present paper is facing the importance of compliance in banking and explains how banks can prevent their firms from risk. The term paper is divided into two main parts. The first part includes a theoretical discussion of the term compliance and provides an introduction to the tasks of compliance management. It represents an explanation of the classification, the goals and the necessity of compliance. The second part reflects the compliance risk, and the question of how it can be prevented will be answered. In the end, there will be a summary with a conclusion of this term paper.

A regulation ensures that an organization is following the standards and the rules set for the industry. These rules are set by the government, corporations and the law. These regulations contribute to maintain confidence in every sector and help to protect a financial dilemma. Corporations like banks or financial institutions have to provide a compliance regulation. Nevertheless, are they even necessary, and can they prevent certain, and uncertain risks?

Table of content

Table of content

List of figures

1 Introduction

2 Compliance
2.1 Conception of compliance
2.2 Corporate Governance
2.3 Compliance management
2.4 Aims of compliance management
2.5 Code of conduct

3 Characteristics of compliance risk
3.1 Compliancerisk
3.2 Governanceofrisk
3.3 Factors of non-compliance in banking
3.4 Preventingcompliancerisk

4 Conclusion

Bibliography

Internet sources

• College: University of Applied Sciences Essen
• Grade: 2,0
• Publication Year: 2020
• Pages: 17
• Catalog Number: V1026118
• ISBN (eBook): 9783346428035
• ISBN (Book): 9783346428042
• Language: English
• Tags: compliance, Banking, Corporate Governance, code of conduct, governance of risk, preventing compliance risk, compliance management, aims of compliance, conception of compliance, JP Morgan