The Changing Function of Compliance: A Handbook to Managing Regulatory Risk

As risks arising within the business environment grow in size and complexity, so too do the regulatory requirements put in place to manage them. The pace of regulatory change is itself a significant business risk, and compliance departments are under increasing pressure to keep up with the change and adapt their organisations accordingly. This new edition of what has become an indispensable guide to regulation compliance brings readers up to date with changing areas of focus and provides guidance for regulated firms and regulators alike. The Changing Function of Compliance considers the relationship between regulation and compliance as well as key influences on both, offering insight into the effectiveness of current approaches and addressing practical compliance challenges. It explains the purpose and development of regulatory risk management and the existing regulatory environment, and provides a detailed exploration of the compliance function, explaining how the role might be strengthened and how best to approach the role to enable it to be effective. This practical and accessible handbook includes a mix of hands-on advice, examples and research based on the experiences of practitioners, educators and regulators drawn from across a wide range of jurisdictions and sectors. This book is an essential read, whether you are concerned about the growing and changing implications of regulatory risk, the benefit of leveraging additional value from your compliance function or your own compliance role or ways of transforming and sustaining the function to ensure its continued relevance to the business.

Table of Contents:
Part I Compliance Context 1. Regulation and Risk 2. Influences and Influencers 3. Regulatory Risk Management Part II Compliance Focus 4. The Compliance Environment 5. The Compliance Framework 6. Compliance Activities and Approach Part III Compliance Development 7. Why Compliance Matters Now 8. Compliance Challenges 9. Enabling the Compliance Function 10. Conclusion

About the Author :
Sharon Ward is an experienced regulatory compliance specialist. A compliance professional since the mid-1990s, Sharon is a former senior practitioner active in the development of professional education in this field throughout the past two decades, initially in her operational roles with the International Compliance Association and thereafter as its Chief Examiner (GRC). She has developed, taught on and written for a range of governance, risk and compliance-related programmes to Master’s level, both in the UK and internationally, contributing to key industry initiatives. Formerly Module Director for the Financial Services Compliance elective of the Chartered Banker MBA (CBMBA) and Editor of the Journal of Business Compliance, Sharon is a fellow of the ICA and of the Chartered Institute of Educational Assessors. Her work in this area continues through research, development projects, teaching and assessment.

Review :
"Sharon Ward has produced a defining book for the function and role of the Compliance function in the twenty-first century. Since its development from an internal control department to a more influential advisory role, there has been a tumultuous process of scandal, business misconduct and regulatory response that is still ongoing. The debate as to the nature of its activities, influence and strategic value within organisations bears the hallmarks of the birth of a profession. Her book is as timely as it is instructive; it is an invaluable read to accompany any effort to understand the value and role of the Compliance function, and a must-read for practitioners and legislators alike." Anthony Smith-Meyer, Editor-in-Chief, The Journal of Business Compliance, Adjunct Professor of International Management and Organisational Behaviour at Miami University, MUDEC Campus, Luxembourg, and Founder of TheGovernanceProject.org