Key Compliance and Legal Risks Overview PPT
This PPT slide, part of the 92-slide Unlock the Power of Operational Risk Management PowerPoint presentation, outlines significant risks associated with compliance and legal issues, categorized into 3 main areas: regulatory burden, fraud and theft, and errors in legal documents. Each risk is described with specific drivers, implications for the business, and references to past external events that exemplify these risks.
The first section highlights the increase in regulatory burden, driven primarily by the availability and allocation of human capital and the involvement of external service providers. This risk can lead to additional costs, such as overtime and regulatory fines. The implications suggest that organizations may face increased operational costs and potential reputational damage due to non-compliance. The past events listed, including instances from major financial institutions, underscore the real-world impact of these regulatory challenges.
The second section addresses fraud and theft, emphasizing governance and accountability as key drivers. It identifies various processes that can be vulnerable, such as design and implementation. The implications here include significant financial losses and the potential for legal repercussions. The past events cited illustrate how these risks have materialized in the industry, highlighting the importance of robust internal controls.
The final section focuses on errors in legal documents, again pointing to governance and oversight as critical factors. The implications include financial write-downs and legal liabilities, which can severely impact an organization’s bottom line. The examples provided reinforce the necessity for meticulous document management and compliance practices.
Overall, this slide serves as a critical reminder for organizations to assess their risk management strategies in compliance and legal areas, ensuring they are prepared to mitigate potential impacts effectively.
This slide is part of the Unlock the Power of Operational Risk Management PowerPoint presentation.
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Risk Management Document Management Operational Risk Governance Compliance
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