Hector Sants' break from his role as Chief Compliance Officer at Barclays due to stress has highlighted the strains on banks' internal policemen.
Mizuho Financial Group’s banking unit set up an internal committee and will assemble a panel of outside experts to improve compliance after it failed to act on loans made to crime groups.
JPMorgan Chase CEO Jamie Dimon overhauled leadership of the bank’s regulatory matters this year as U.S. examiners said they had lost trust in management, the Wall Street Journal reported.
'So basically you want me to be your 'thing' ?
I was always being teased by my work colleagues that my boss had a soft spot for me, but I never imagined that he would one day profess his undying love.
Whatever next! ?
He got in touch offering insights into "compliance" in financial firms as well as into "algorithmic trading". A philosophy as well as business school graduate, he worked in compliance for seven years in a bank and then a brokerage before switching to academia, with interests in the anthropology of finance. He is a modest yet self-assured man in his early 30s, from continental Europe. He orders a coffee.
.A new research study released today by Kinetic Partners, the global professional services firm, reveals that even though nearly half of financial services CEOs (48%) believe that senior managers should be spending between 20% to 40% of their time on risk management and compliance, nearly a third (31%) of this group admit that this standard is not being achieved.