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Essay / Research Paper Abstract
This 15-page paper focuses on a fictitous financial services company and how a compliance officer, based on literature about the topic, can determine vulnerabilities and solution to those vulnerabilities. The paper is written from a UK perspetive. Bibliography lists 4 sources.
Page Count:
15 pages (~225 words per page)
File: D0_MTfsbcom.rtf
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Unformatted sample text from the term paper:
2000s have been the century (so far) of corporate and financial scandals and attempts to do something to prevent them in the future. Though Enron and WorldCom have been the
toppers in terms of lack of compliance when it comes to services (and accounting regularities), firms throughout the world have been caught in scandals involving everything from accounting irregularities all
the way to money laundering. In the United Kingdom, the Basel Committee on Banking Supervision (under the direction of the Bank for
International Settlements) published a paper during late 2003 when it came to compliance functions in banks (Edwards, 2004). The main aim of the paper was to provide basic guidance for
banks when it came to compliance (Edwards, 2004). Because of the Basel Committees directives, not to mention all of the hysteria in
terms of publicity when its come to banking (not just in the UK either), the compliance officer has moved from him/her position as being a part of legal or a
part of human resources to being an integral part of a financial institutions requirements when it comes to compliance, not only with legalities, but also with any type of self-regulatory
aspects of compliance. It is the compliance officers job, in other words, to ensure that a financial institution is not only in compliance with particular rules and regulations, but to
try to analyze the vulnerabilities of a particular institution, where it needs fixing, how it should be fixed, and the costs incurred of both fixing things, and what could happen
(cost-wise) if things are not fixed. In this paper, the student, who is a compliance officer for a fictitious financial services organization,
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