Illustration – Managing Conduct Risk in a GRC Context
This illustration sets out a process for managing conduct risk.
If conduct risk is the risk to the delivery of fair customer outcomes – a definition from the UK’s Financial Conduct Authority – then it is clear that it touches every part of a governance, risk and compliance (GRC) framework.
Conduct Risk Management integrates with GRC – whether it is ensuring compliance to new conduct risk rules, managing conflicts of interest, preventing market abuse, or building robust audit procedures around new product development processes.
Published On 08/16/2014