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Compliance - Coggle Diagram

- - - -  The elaboration of a risk mapping:
        
         Inventory of potential risks
        
         Scoring of identified potential risks
        
         Evaluation of the existing mechanism of risk control
      - Elaboration of the permanent controls plan and the implementation of controls
      -  Collection of incidents/losses
      -  Elaboration of action plans aiming at improving the mechanism of risk control
    - - Identified risks are of various natures
        
         Non-compliance with regulations relative to the AML/CTF or the rules
        
         Non-compliance with procedures relative to a process
        
         Default in information’s and/or documents update
        
         Insufficient supervision of accounts and/or operations
        
         Default in information’s and/or documents’ preservation and/or logging
      -  Risk mapping must be comprehensive, i.e. cover all risks
  - - -  The construction of the regulatory referential consists in:
        
         Identifying current rules with the company:
        
         Identifying the applicable regulations
      -  The approach relies on the collaboration between several actors:
        
         The operational risks’ board
        
         The compliance board
        
         Operational collaborators / Compliance officers
      - Formalization of the plan and permanent controls
        
         Control plan
        
         The control sheet
- - - - (ESFA) made up of three supervisory authorities
      -  European Securities and Markets Authorities (ESMA),
      -  European Banking Authority (EBA)
      -  European Insurance and Occupational Pensions Authority (EIPOA)
    - -  Maintaining the EU financial stability
      -  Ensuring an effective and consistent level of prudential regulation and supervision across the European banking sector.
      -  Safeguarding the integrity efficiency and orderly functioning of the banking sector.
      -  Improving the functioning of the internal market by ensuring appropriate, efficient and harmonized European supervision and regulation.
      -  Contributing, through the adoption of Binding Technical Standards and Guidelines, to the creation of the European Single Rulebook in banking.
    - - Anti-Money Laundering (AML) and Counter Terrorist Financing (CTF) policies
- - - - Objective: Censing and analyzing regulatory and legislative evolutions then identifying those susceptible to have an impact on activities and businesses of the concerned organization.
    - - Objective: satisfying risks’ prevention of non-compliance;
        The elaboration of these procedures breaks down into 4 missions:
    - - Objective: satisfying risks’ prevention of non-compliance;
        The elaboration of these procedures breaks down into 4 missions
        
        Making sure of the existence of compliance rules corpus;
        
         Participating to the elaboration of texts related to the compliance exercise;
        
        Ensuring the regular and operational updating of compliance procedures;
        
        Circulating the updated procedures’ to businesses’ boards and lines;
    - - Objective: Alerting and training all collaborators to regulations, stakes, and compliance practices
    - - Objective: Participating to the validation of new products, new activities, and formalizing a systematical written opinion
      -  Analyzing potential non-compliance risks;
      -  Searching necessary information for the understanding of the operation;
      -  Formulating prior recommendations and conditions.
      -  Identifying applicable norms and procedures;
    - - Objective: Providing an advisory role in terms of getting in touch with, deontology, etc… This breaks down into 5 missions:
        
         Search of necessary information for the appropriate treatment
        
         Due diligence if appropriate,
        
         Formulation of recommendations and regulations,
        
         Input of support to the compliance of tools applicable to the regulations