Regulatory Compliance Management
Expert-defined terms from the Corporate Governance and Compliance course at London School of Planning and Management. Free to read, free to share, paired with a professional course.
Accountability refers to the responsibility of individuals or organizations to a… #
In the context of Regulatory Compliance Management, accountability is crucial to ensure that organizations and their employees are held responsible for complying with relevant laws, regulations, and standards. Related terms include responsibility, answerability, and liability.
Anti #
Money Laundering (AML) refers to the set of laws, regulations, and procedures designed to prevent and detect the laundering of money obtained through illicit means. AML regulations require organizations to implement controls to prevent, detect, and report suspicious transactions. Related terms include Know Your Customer (KYC), Combating the Financing of Terrorism (CFT), and financial crime.
Audit Committee is a committee of the board of directors responsible for oversee… #
Related terms include audit, financial reporting, and internal control.
Board of Directors refers to the group of individuals elected or appointed to ov… #
The board is responsible for making key decisions, setting goals, and ensuring the organization's compliance with relevant laws and regulations. Related terms include corporate governance, executive management, and oversight.
Code of Conduct is a document that outlines the principles and standar… #
The code of conduct provides guidance on ethical behavior, conflicts of interest, and compliance with laws and regulations. Related terms include ethics, integrity, and compliance program.
Compliance Officer is an individual responsible for overseeing and implementing… #
The compliance officer ensures that the organization is aware of and complies with relevant laws, regulations, and standards. Related terms include compliance program, regulatory affairs, and risk management.
Compliance Program refers to the set of policies, procedures, and controls</i… #
A compliance program typically includes risk assessment, training, monitoring, and reporting. Related terms include compliance officer, regulatory compliance, and risk management.
Corporate Governance refers to the system of rules , practices, and pro… #
Corporate governance includes the roles and responsibilities of the board of directors, executive management, and stakeholders. Related terms include board of directors, executive management, and stakeholder engagement.
Data Protection refers to the set of laws, regulations, and procedures designed… #
Data protection regulations require organizations to implement controls to ensure the confidentiality, integrity, and availability of personal data. Related terms include data privacy, information security, and compliance.
Due Diligence refers to the process of conducting a thorough review and <… #
Due diligence is typically conducted prior to a merger, acquisition, or investment. Related terms include risk assessment, compliance review, and background check.
Enterprise Risk Management (ERM) refers to the process of identifying, as… #
ERM includes the identification of risks, assessment of likelihood and impact, and implementation of controls to mitigate risks. Related terms include risk assessment, compliance risk, and internal control.
Ethics refers to the principles and values that guide an individua… #
Ethics includes the consideration of moral and social implications of actions and decisions. Related terms include code of conduct, compliance, and integrity.
Financial Reporting refers to the process of preparing and disclosing fin… #
Financial reporting includes the preparation of financial statements, such as balance sheets and income statements. Related terms include accounting, auditing, and disclosure.
Fraud refers to the intentional act of deceiving or misleading oth… #
Fraud includes a range of activities, such as embezzlement, bribery, and corruption. Related terms include anti-fraud, compliance, and internal control.
Governance refers to the system of rules , practices, and processes … #
Governance includes the roles and responsibilities of the board of directors, executive management, and stakeholders. Related terms include corporate governance, compliance, and regulatory affairs.
Internal Control refers to the policies , procedures, and processes … #
Internal control includes the identification of risks, assessment of likelihood and impact, and implementation of controls to mitigate risks. Related terms include internal audit, compliance, and risk management.
Internal Audit is an independent function that provides assurance on the… #
Internal audit includes the examination of financial statements, transactions, and operations. Related terms include audit committee, compliance, and internal control.
Know Your Customer (KYC) refers to the set of laws, regulations, and procedures… #
KYC regulations require organizations to verify the identity of customers and monitor their transactions. Related terms include Anti-Money Laundering (AML), compliance, and regulatory affairs.
Money Laundering refers to the process of concealing or disguising … #
Money laundering includes a range of activities, such as smurfing, layering, and integration. Related terms include Anti-Money Laundering (AML), compliance, and regulatory affairs.
Operational Risk refers to the risk of loss resulting from inadequate or… #
Operational risk includes the risk of error, fraud, and disaster. Related terms include risk management, compliance, and internal control.
Regulatory Affairs refers to the function responsible for ensuring an org… #
Regulatory affairs includes the monitoring of regulatory developments, assessment of compliance risks, and implementation of controls to mitigate risks. Related terms include compliance program, regulatory compliance, and risk management.
Regulatory Compliance refers to the process of ensuring that an organizat… #
Regulatory compliance includes the identification of compliance risks, assessment of likelihood and impact, and implementation of controls to mitigate risks. Related terms include compliance program, regulatory affairs, and internal control.
Risk Assessment refers to the process of identifying, assessing, and p… #
Risk assessment includes the identification of risks, assessment of likelihood and impact, and implementation of controls to mitigate risks. Related terms include risk management, compliance, and internal control.
Risk Management refers to the process of identifying, assessing, and m… #
Risk management includes the identification of risks, assessment of likelihood and impact, and implementation of controls to mitigate risks. Related terms include risk assessment, compliance, and internal control.
Sarbanes #
Oxley Act (SOX) refers to the US law that sets out requirements for publicly traded companies to ensure the accuracy and reliability of financial reporting. SOX includes provisions related to internal control, audit committee, and disclosure. Related terms include financial reporting, compliance, and regulatory affairs.
Stakeholder refers to an individual or group that has an interest or s… #
Stakeholders include shareholders, employees, customers, and regulators. Related terms include corporate governance, compliance, and social responsibility.
Transaction Monitoring refers to the process of reviewing and analyzin… #
Transaction monitoring includes the use of technology and data analytics to identify suspicious transactions. Related terms include Anti-Money Laundering (AML), compliance, and regulatory affairs.
Whistleblower refers to an individual who reports illegal or unethical… #
Whistleblower policies and procedures are designed to protect employees who report wrongdoing and to ensure that reports are investigated and addressed. Related terms include ethics, compliance, and internal control.
Audit Committee Charter refers to the document that outlines the roles an… #
Related terms include audit committee, corporate governance, and internal control.
Chief Compliance Officer (CCO) refers to the individual responsible for overseei… #
The CCO ensures that the organization is aware of and complies with relevant laws, regulations, and standards. Related terms include compliance program, regulatory compliance, and risk management.
Code of Ethics refers to the document that outlines the principles and <b… #
The code of ethics provides guidance on ethical behavior, conflicts of interest, and compliance with laws and regulations. Related terms include ethics, compliance, and integrity.
Compliance Training refers to the process of educating employees on an or… #
Compliance training includes the provision of information on compliance risks, consequences of non-compliance, and reporting requirements. Related terms include compliance program, regulatory compliance, and internal control.
Control Environment refers to the attitude and awareness of an org… #
The control environment includes the organization's culture, policies, and procedures. Related terms include internal control, compliance, and risk management.
Corporate Social Responsibility (CSR) refers to the voluntary efforts of… #
CSR includes initiatives related to philanthropy, sustainability, and community development. Related terms include corporate governance, stakeholder engagement, and social responsibility.
Data Governance refers to the process of managing and controlling … #
Data governance includes the provision of access controls, data quality, and compliance with laws and regulations. Related terms include data protection, information security, and compliance.
Enterprise Risk Management Framework (ERMF) refers to the structure and <… #
ERMF includes the identification of risks, assessment of likelihood and impact, and implementation of controls to mitigate risks. Related terms include risk management, compliance, and internal control.
Financial Crime refers to a range of illegal activities, including mon… #
Financial crime includes the use of financial systems and institutions to facilitate or conceal illicit activities. Related terms include Anti-Money Laundering (AML), compliance, and regulatory affairs.
Governance Framework refers to the structure and processes used to… #
The governance framework includes the roles and responsibilities of the board of directors, executive management, and stakeholders. Related terms include corporate governance, compliance, and regulatory affairs.
Information Security refers to the process of protecting an organization'… #
Information security includes the implementation of controls such as firewalls, encryption, and access controls. Related terms include data protection, compliance, and internal control.
Internal Audit Charter refers to the document that outlines the roles and… #
Related terms include internal audit, corporate governance, and internal control.
IT Governance refers to the process of managing and controlling an… #
IT governance includes the development of policies, procedures, and standards for IT management. Related terms include information security, compliance, and internal control.
Operational Risk Management refers to the process of identifying, assessi… #
Operational risk management includes the identification of risks, assessment of likelihood and impact, and implementation of controls to mitigate risks. Related terms include risk management, compliance, and internal control.
Regulatory Capital refers to the amount of capital that an organization i… #
Regulatory capital includes the minimum amount of capital required to be held by banks and other financial institutions. Related terms include risk management, compliance, and regulatory affairs.
Risk Appetite refers to the level of risk that an organization is willing… #
Risk appetite includes the consideration of the potential consequences of risk and the implementation of controls to mitigate risks. Related terms include risk management, compliance, and internal control.
Risk #
Based Approach refers to the methodology used to identify, assess, and prioritize risks that could impact an organization's ability to achieve its objectives. The risk-based approach includes the consideration of the likelihood and impact of risks and the implementation of controls to mitigate risks. Related terms include risk management, compliance, and internal control.
Securities and Exchange Commission (SEC) refers to the US regulatory agency resp… #
The SEC includes the regulation of publicly traded companies, broker-dealers, and investment advisers. Related terms include financial reporting, compliance, and regulatory affairs.
Stakeholder Engagement refers to the process of communicating and inte… #
Stakeholder engagement includes the provision of information on an organization's performance and activities. Related terms include corporate governance, compliance, and social responsibility.
Sustainability refers to the ability of an organization to operate … #
Sustainability includes the consideration of the impact of an organization's activities on the environment and community. Related terms include corporate social responsibility, compliance, and social responsibility.
System of Internal Control refers to the policies , procedures, and pro… #
The system of internal control includes the identification of risks, assessment of likelihood and impact, and implementation of controls to mitigate risks. Related terms include internal control, compliance, and risk management.
Tone at the Top refers to the attitude and awareness of an organiz… #
The tone at the top includes the organization's culture, policies, and procedures. Related terms include control environment, compliance, and internal control.
Transaction Risk refers to the risk of loss resulting from the executi… #
Transaction risk includes the risk of settlement failure and counterparty risk. Related terms include operational risk, compliance, and internal control.
Uncertified Employee refers to an individual who is not certified or l… #
Uncertified employees may be required to undergo training or certification to perform their job duties. Related terms include compliance training, regulatory compliance, and internal control.
Whistleblower Policy refers to the document that outlines the procedures … #
The whistleblower policy includes the provision of confidentiality and protection for whistleblowers. Related terms include ethics, compliance, and internal control.
XBRL (eXtensible Business Reporting Language) refers to the language used… #
XBRL includes the use of taxonomies and schemas to define the structure and content of financial reports. Related terms include financial reporting, compliance, and regulatory affairs.
Zero Tolerance Policy refers to the document that outlines an organization's … #
The zero tolerance policy includes the provision of consequences for non-compliance and enforcement of the policy. Related terms include ethics, compliance, and internal control.