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#905477 - 02/15/08 01:40 PM Compliance and Risk departments
Tocomply Offline
Platinum Poster
Joined: Nov 2004
Posts: 650
Can anyone tell me the different job functions that go with compliance departments and risk departments? It seems that banks have separate departments for compliance and risk and no one clearly defines who should do what. It appears to be more of a control issue.

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#906251 - 02/18/08 07:32 PM Re: Compliance and Risk departments Tocomply
Bartman Offline
Diamond Poster
Joined: Oct 2000
Posts: 1,191
I think this really varies by bank. We're a $750 million 2-bank holding company, and we look at the functions that should be independent of management - compliance, internal audit, and loan review. We rolled them together into a risk management department with reporting to the Audit Committee of the corporate board. So now I serve as risk management officer and I do internal compliance audits each year; a loan review officer reports to me & is responsible for that whole program; and we outsource the internal audit function & I manage those relationships.
Opinions are Bartman's, not those of my employer. "A noble spirit embiggens the smallest man."

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