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Building a Robust Compliance Risk Assessment Framework: Expert Strategies and Best Practices

Duration : 75 Minutes

Kenneth Barden,

Kenneth Barden is an attorney and a seasoned Compliance and Regulatory Specialist. He is a Certified Anti-Money Laundering Specialist (CAMS) and is COSO-certified. He has over 37 years of professional experience, both within the US and internationally. His primary focus has been on compliance, fin Read more

Organizations must develop and facilitate effective compliance risk assessments to mitigate potential risks and comply with legal and regulatory requirements. A thorough compliance risk assessment involves identifying potential risks, evaluating their likelihood and impact, and implementing measures to manage and monitor those risks. This process requires collaboration between various departments and stakeholders, including compliance officers, legal teams, and senior management. Effective communication and training are also crucial to ensure that all employees understand their roles and responsibilities in maintaining compliance. Organizations can proactively identify and address potential risks by developing and facilitating effective compliance risk assessments, maintain legal and regulatory compliance, and safeguard their reputation and financial stability.

During this webinar, attendees will gain insight into different methods for evaluating risk within a company's business portfolio. They will also learn about effective techniques for conducting risk assessments to assess compliance risks, categorize them, and prioritize them accordingly. Additionally, attendees will discover how to implement mitigation strategies to minimize any negative consequences. 

Why Should You Attend:

Businesses are encountering mounting compliance requirements from government regulatory agencies and public and peer pressure to fulfill legal and ethical obligations. With the complexity of these regulatory, legal, and ethical hurdles, companies are struggling to avoid incurring substantial liabilities. A thorough risk assessment can identify many of these obstacles and offer suggestions for limiting exposure. 

A risk assessment can aid managers in comprehending and categorizing the numerous risks, and devising a risk management plan that can be implemented to reduce exposure and potential harms.

This webinar will examine many of the common risk exposures that companies face, outline various approaches for identifying risks and assessing the likelihood of occurrence as well as provide some options on how a company can best implement recommendations into action.

Attending the webinar will teach you about best practices for conducting risk assessments in a company's business portfolio. The training will provide attendees with various approaches for evaluating compliance risks, rating them, and prioritizing them accordingly. Furthermore, attendees will discover how to implement mitigation strategies to minimize any negative consequences.

Course Objectives:

At the conclusion of this webinar, attendees will learn:

• How to perform an enterprise-wide compliance risk assessment to evaluate, rate, and prioritize compliance risks accordingly.

• How to Identify and develop controls to mitigate the risks within the business.

• Implementing best practices for conducting and regulating risk assessments through well-designed controls.

• How a compliance risk assessment helps to measure risk.

• Importance of regular monitoring and auditing of risks for efficient risk management and mitigation.

• Some of the common risks facing businesses are in the regulatory, legal, and ethical environment.

• Various approaches are available for assessing risk in a company’s business portfolio.

• Who should be involved in conducting and developing a risk assessment?

Course Outline:

• Introduction to compliance risk assessment and its importance

• Key components of an effective compliance risk assessment framework

• Best practices for identifying and assessing compliance risks

• Types of risk assessments

• Who should be involved in risk assessment

• Considering the risk assessment report

• Strategies for mitigating compliance risks and non-compliance issues

• Importance of ongoing monitoring and updating of compliance risk assessments

• Examples of successful compliance risk assessment frameworks and strategies

• Common challenges and pitfalls to avoid in compliance risk assessments

• Tools and resources for building a robust compliance risk assessment framework.

What You Get:

• Training Materials

• Live Q&A Session with our Expert

• Participation Certificate

• Access to Signup Community (Optional)

• Reward Points

Who Will Benefit:

• Business Owners and Executives 

• Business Managers

• Audit and Assurance Professionals

• Risk Management Professionals

• Compliance Officers and Managers 

• Corporate Counsel

• Legal Professionals

• Regulatory Compliance Associates and Managers

• Financial Services Professionals

• Professionals Involved in the Compliance and Risk Management Functions

Please reach us at 1-888-844-8963 for any further assistance or if you wish to register

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