A cornerstone of every strong compliance function is their risk assessment. The challenge is having something that is all encompassing but not requiring a small army to complete it; being easy to compare year on year but not so high level that no risks can ever be identified.
Not every business has the scale to buy in a system for their risk assessment or has the confidence that the environment being assessed is sufficiently stable to warrant hard coding.
In practice most, even large firms, run their risk assessment on Excel, its flexible, relatively cheap, and the vast majority of staff can use Excel.
This Compliance Risk Assessment gives you a template in Excel for carrying out an assessment of the risks of non-compliance across your business.
Contained within your digital download are:
Over 250 sub-risks covering seven risk categories including Market Conduct, Management and Governance, and Financial Resources
- Pre-set risk ratings and associated colour coding that you can customise
- Industry standard risk ratings
- Three templated dashboards to present results to your committees and board
- Instructions on how to use the templates
- Step by step guides to bespoke the template for your business
- Best practice for conducting a risk assessment
Compliance Risk Assessment
This product is in Microsoft Excel (*.xlsx)