![Risk.net](https://www.risk.net/sites/default/files/styles/print_logo/public/2018-09/print-logo.png?itok=1TpHrpuP)
US banks keep a close eye on compliance
A national study by the ABA reveals compliance duties are becoming a responsibility for all banking employees
ORLANDO, FL - A study by the American Bankers Association (ABA) on compliance professionals, presented at the annual Regulatory Compliance Conference in Orlando, Florida, showed banks are keeping a closer eye on business partners and compliance duties are becoming more a part of the job for all employees.
The number of compliance officers who report having taken steps to determine how well business partners are complying with banking regulations increased by 6% (from 65.4% in 2007 to 71.4% this year). The study also revealed that compliance is increasingly becoming a part of the job description for all bank employees.
The biannual study is conducted by the ABA's Center for Regulatory Compliance with the goal of providing insight into the backgrounds of compliance officers and identifying the different structures under which the role of compliance officer is performed. As part of the survey, more than 700 bank compliance officers returned questionnaires detailing their attitudes on regulatory costs, training, structure and accountability. The survey included representation from a wide cross-section of bank sizes.
Click here to access a portion of the survey results.
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe
You are currently unable to print this content. Please contact info@risk.net to find out more.
You are currently unable to copy this content. Please contact info@risk.net to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@risk.net
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@risk.net
More on Regulation
EU banks hedge net interest income to pass new IRRBB test
Would-be outliers look to cut sensitivity of cashflows to rate moves, but at what cost?
Banks cry foul over shock decision from Basel Committee
Asset and liability management professionals question severity of criteria in revised IRRBB tests
Fresh EU push for single securities supervisor to compete with US
But MEP expresses ‘concern’ EU nations will stall revival of capital markets union
Discord deepens over fund-linked trades in FRTB
More banks use punitive approach to capital treatment under new trading book regime, irking regulators
AI, quantum computing and tokenisation set to transform finance – Menon
But significant barriers remain preventing the technologies from unlocking their full potential
Could the SEC revive the private fund adviser rule?
Industry experts deem a second life for the reviled rule unlikely
Vendors lack silver bullet for FRTB’s fund-linked issue
EU and UK legislators tried to ease capital charge by leaning on vendors, but problems persist
Does Basel’s internal loss multiplier add up?
As US agencies mull capital reforms, one regulator questions past losses as an indicator of future op risk