Going into the still somewhat uncertain 2022, there are a number things that risk & compliance officers will need to keep in mind, a new report shows
Heading into 2022, the pandemic should have been in the rear-view mirror, but instead the world is dealing with the impact of another variant of the COVID-19 virus as the pandemic slogs onward. Those financial services firms that had scheduled post-pandemic reviews have morphed those into a rolling review of the efficacy of hybrid working arrangements.
It’s no surprise then that risk and compliance officers will continue to play a central role in preparing their firms for all eventualities. The following is a list of 10 things compliance officers need to consider in 2022.
1. Shifting individual accountability
The concept of personal liability for senior managers is not new. What is new is the changing perception of the potential sources of liability and how regulators are interpreting accountability.
Firms are wary of the potential for reputational and other damage, and this has implications for individuals — even those at the most senior levels. Examples of non-financial misconduct have included everything from…
