Top risks and controls for Compliance

From the Doorstep International risk register, curated by Ahmer Nehal. Last updated 17 Oct 2026.

The Compliance register lists 38 key risks and 97 best-practice controls across 5 units: Compliance Policy and Governance, Fraud Prevention and Investigation, Internal Audit, Regulatory Compliance, Training and Awareness. Use it to identify risks, benchmark your existing controls or start a risk and control self-assessment (RCSA).

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AI-era lens: compliance teams are both users of AI (transaction monitoring, screening, regulatory change tracking) and the function that must show regulators AI is used fairly and lawfully. The units below cover the core compliance risks; the compliance risk for AI guide covers the new expectations.

A bank's compliance department is in charge of making sure that the bank complies with all applicable laws, rules, and industry standards.

Conducting risk assessments to identify potential compliance risks and vulnerabilities inside the operations of the bank is one of the primary tasks of the compliance department.

Risk assessments assist the compliance function in understanding how the bank operates, determining the degree of risk present in each area, and setting priorities for risk mitigation.

The compliance function can assist the bank in proactively managing compliance risks, averting potential regulatory violations, and defending the bank's good name and financial stability by conducting risk assessments.

Compliance Policy and Governance: key risks and controls

Accountable for creating and maintaining the compliance policies, practices, and guidelines for the bank. They make ensuring that the compliance programme for the bank complies with all relevant laws, rules, and standards as well as industry best practices.

Risk	What can go wrong	Best-practice controls
Balancing risk and compliance	Compliance policies are designed to mitigate risk, but sometimes strict adherence to policies can create additional risk. The compliance policy and governance team must balance the need for compliance with the need to manage risk effectively.	Risk assessment and analysis: Conduct a thorough risk assessment and analysis to identify and understand the potential risks associated with compliance policies. This will help in determining which policies are necessary and effective in mitigating the identified risks. Tailored policy development: Develop compliance policies that are tailored to the specific risks identified through the risk assessment process. Avoid a one-size-fits-all approach and instead focus on creating policies that address the specific risks while still maintaining compliance with relevant regulations and standards.
Communication and training	Compliance policies and regulations can be complex and difficult to understand. The compliance policy and governance team must communicate policy changes and updates clearly to all relevant stakeholders within the bank, and provide appropriate training and guidance on how to comply with these policies.	Develop a comprehensive compliance policy framework that outlines all applicable policies and regulations, including the frequency of updates and reviews. Establish a compliance governance team that oversees the implementation and enforcement of the compliance policies. Identify key stakeholders within the bank who are responsible for complying with the policies and regulations. Develop a communication plan that outlines how policy changes and updates will be communicated to stakeholders within the bank, including regular training and guidance sessions.
Keeping up with changing regulations	Compliance policies and regulations are constantly evolving, and it can be challenging to stay up-to-date with the latest changes. The compliance policy and governance team must continually monitor and interpret new regulations and guidance to ensure that the bank is in compliance.	Develop a formal compliance program that is designed to identify, assess, manage and monitor compliance risks. The program should include policies and procedures for ensuring compliance with all applicable laws and regulations. Provide regular training to employees to help them understand the latest regulations and policies. This can include training on compliance issues related to specific business areas and functions. Create a centralized repository of all relevant laws, regulations, and policies that are applicable to the bank.
Managing data	Compliance policies often require the collection, analysis, and reporting of large amounts of data. The compliance policy and governance team must ensure that data is accurate, secure, and easily accessible to relevant stakeholders within the bank.	Implement a robust data management system: A centralized and well-structured data management system is crucial to ensure accurate, secure, and easily accessible data. It should include proper data classification, data governance policies, and mechanisms for data validation and quality assurance. Deploy strong data security measures: Implement comprehensive security controls, such as encryption, access controls, data loss prevention mechanisms, and regular security audits. These measures protect sensitive compliance data from unauthorized access, manipulation, or theft, ensuring its confidentiality and integrity.
Managing third-party relationships	Banks often work with a variety of third-party vendors and partners, each of whom may have their own compliance requirements. The compliance policy and governance team must ensure that third-party relationships are properly managed and compliant with relevant regulations.	Implement a comprehensive vendor management program to assess and manage third-party risks. Develop and maintain a list of approved third-party vendors. Conduct due diligence on all third-party vendors, including an assessment of their compliance with relevant regulations. Include compliance requirements in all third-party contracts and agreements. Establish and enforce a process for monitoring and auditing third-party vendors to ensure ongoing compliance. Conduct periodic reviews of third-party relationships to assess ongoing compliance and identify areas for improvement. Provide training and guidance to third-party vendors on compliance requirements and expectations.
Technology implementation	Compliance policies often require the implementation of technology solutions to manage data and ensure compliance. The compliance policy and governance team must work with IT and other stakeholders to implement these solutions effectively and efficiently.	Clearly defined compliance policies and governance framework: Establishing a well-defined compliance policy and governance framework is essential to guide the implementation of technology solutions effectively and efficiently. This framework should outline the organization's compliance requirements, responsibilities, and procedures. Robust technology solutions for data management and compliance: Implementing appropriate technology solutions that can effectively manage data and ensure compliance is crucial. This includes deploying tools such as data governance platforms, document management systems, encryption software, access controls, and monitoring solutions to track and enforce compliance requirements.

Fraud Prevention and Investigation: key risks and controls

Accountable for stopping and looking into fraud, both internal and external, committed against the bank or its clients.

Risk	What can go wrong	Best-practice controls
Balancing fraud prevention with customer experience	While preventing fraud is a top priority, the fraud prevention and investigation team must also ensure that customer experience is not negatively impacted. Excessive security measures may inconvenience customers and lead to lost business.	Risk assessment and segmentation: Conduct a thorough risk assessment to identify potential fraud risks and prioritize them based on their potential impact. Segment customers based on risk levels to apply appropriate security measures, ensuring a balance between security and customer experience. Real-time monitoring and analytics: Implement robust fraud detection systems that use advanced analytics and machine learning algorithms to monitor transactions and activities in real-time. This enables the identification of suspicious patterns and behaviors, allowing prompt intervention while minimizing customer inconvenience.
Collaboration with law enforcement	In cases of serious fraud, the fraud prevention and investigation team must work closely with law enforcement agencies. This can be challenging, as different agencies may have different priorities and approaches to investigations.	Establish a strong internal fraud prevention program: Implementing robust controls, policies, and procedures within the organization is crucial to prevent fraud from occurring in the first place. This can include segregation of duties, regular audits, and effective whistleblower reporting mechanisms. Foster collaboration and information sharing with law enforcement agencies: Building strong relationships and open lines of communication with law enforcement agencies can facilitate effective collaboration in cases of serious fraud. This can involve establishing formal partnerships, sharing relevant information, and engaging in joint training exercises.
Dealing with false positives	Fraud detection systems may flag legitimate transactions as potential fraud, leading to delays or inconveniences for customers. The fraud prevention and investigation team must have processes in place to quickly identify false positives and prevent unnecessary customer disruption.	Establish clear fraud detection and investigation policies and procedures that identify and address false positives and minimize customer disruption. Provide customer education and communication to help them understand the fraud prevention processes and what to do in case of a false positive. Set up a fraud review team that includes both automated and manual review processes to quickly identify false positives and minimize disruption to customers. Regularly update fraud detection systems and software to improve accuracy and minimize the number of false positives.
Gathering evidence	To investigate fraudulent activity, the fraud prevention and investigation team must gather evidence and build a case. This can be challenging, particularly if the fraudsters are operating across multiple jurisdictions or using sophisticated methods to cover their tracks.	Develop and implement a comprehensive fraud investigation plan that outlines the strategies, tactics, and tools required to investigate fraudulent activity. Use advanced analytical tools and techniques to identify patterns and anomalies in financial transactions that could indicate fraudulent activity. Develop a network of contacts and resources to assist with investigations, including law enforcement agencies, forensic accountants, and technology experts. Establish protocols and procedures for the handling and preservation of evidence, including digital evidence, to ensure that it is admissible in court.
Keeping up with emerging fraud schemes	Fraudsters are constantly developing new and sophisticated schemes to defraud banks and their customers. The fraud prevention and investigation team must stay up-to-date with emerging threats and adapt their strategies accordingly.	Continuous Monitoring and Analysis: Implementing a robust system for continuous monitoring and analysis of emerging fraud threats is the most effective control. This includes staying up-to-date with industry trends, collaborating with other organizations, and leveraging advanced analytics and artificial intelligence to identify patterns and anomalies indicative of new fraud schemes. Employee Training and Awareness: Building a strong fraud prevention and investigation team requires providing comprehensive training and ongoing awareness programs. This ensures that team members are knowledgeable about the latest fraud schemes and techniques used by fraudsters. Regular training sessions, workshops, and information sharing forums should be conducted to keep the team updated and vigilant.
Maintaining confidentiality	Fraud investigations often involve sensitive information, and the fraud prevention and investigation team must ensure that confidentiality is maintained throughout the investigation process.	Access Control: Implement strict access control measures to limit access to sensitive information only to authorized individuals involved in the fraud investigation. This includes user authentication, role-based access control, and encryption of data. Data Encryption: Encrypt sensitive information at rest and in transit to protect it from unauthorized access. This ensures that even if the data is compromised, it remains unreadable and unusable without the decryption key.
Managing data	Fraud prevention and investigation require the collection and analysis of large amounts of data. The fraud prevention and investigation team must ensure that data is accurate, secure, and easily accessible to relevant stakeholders within the bank.	Data Accuracy Controls: Implementing controls to ensure the accuracy of collected data is crucial. This can include data validation checks, reconciliation processes, and regular data quality assessments. Data Security Controls: Safeguarding data from unauthorized access or manipulation is essential. Implement robust access controls, encryption techniques, user authentication mechanisms, and regular security audits to maintain data security.

Internal Audit: key risks and controls

To make sure internal controls are effective and compliance risks are recognised and managed, this department is in charge of performing independent audits of the bank's activities, including its compliance programme.

Risk	What can go wrong	Best-practice controls
Addressing cultural and behavioral challenges	Compliance is not just about following rules; it also involves fostering a culture of ethical behavior and ensuring that employees are aware of their compliance responsibilities. The regulatory compliance team must address cultural and behavioral challenges to ensure that compliance requirements are embedded into the bank's operations and culture.	The bank should establish a code of conduct that outlines ethical behaviors and compliance responsibilities. This code of conduct should be communicated to all employees and updated regularly. Conduct regular training and educational sessions to ensure that all employees are aware of their compliance responsibilities, the consequences of non-compliance, and the importance of ethical behavior. Foster a culture of compliance by ensuring that employees understand that compliance is everyone's responsibility, from the top down.
Addressing emerging risks	The internal audit team must identify and address emerging risks to the bank, such as cybersecurity and climate change, which may require new approaches and specialized skills.	Implement a comprehensive risk assessment process: Conduct regular and thorough assessments to identify emerging risks, including cybersecurity and climate change. This process should involve a multidisciplinary team with specialized skills and knowledge in these areas. The assessment should consider internal and external factors and provide a basis for developing appropriate controls. Develop and maintain specialized expertise: Invest in training and development programs to build a team with the necessary skills and knowledge to address emerging risks, particularly in cybersecurity and climate change. This may involve hiring experts or partnering with external consultants to enhance the internal audit team's capabilities.
Attracting and retaining talent	The internal audit team must attract and retain skilled professionals with the expertise required to audit complex risk areas, such as cybersecurity and financial crime.	Talent Acquisition and Retention Strategy: Implement a comprehensive talent acquisition and retention strategy that includes attracting skilled professionals with expertise in complex risk areas, such as cybersecurity and financial crime. This can involve competitive compensation packages, professional development opportunities, a positive work culture, and targeted recruitment efforts. Training and Development Programs: Establish robust training and development programs specifically tailored to enhance the skills and knowledge of internal audit professionals in the areas of cybersecurity and financial crime. This can include specialized training courses, certifications, workshops, and mentorship programs to ensure continuous professional growth and expertise.
Balancing compliance with business objectives	The regulatory compliance team must balance the need for compliance with the bank's business objectives. This can be challenging when compliance requirements may conflict with business strategies or goals.	Clear and comprehensive policies and procedures: Develop and enforce well-defined policies and procedures that outline the bank's compliance requirements and provide clear guidance to employees on how to balance regulatory compliance with business objectives. This helps ensure that employees understand their responsibilities and make informed decisions that align with both compliance and business goals. Regular training and awareness programs: Implement ongoing training and awareness initiatives to educate employees about the importance of compliance and the potential conflicts between compliance requirements and business strategies. This helps foster a culture of compliance and empowers employees to identify and address conflicts appropriately, reducing the risk of non-compliance.
Balancing independence and collaboration	The internal audit team must maintain independence while collaborating with other departments within the bank. It can be challenging to strike the right balance between independence and collaboration, particularly when auditing departments where there may be resistance to audit findings.	Establish clear roles and responsibilities for the internal audit team and the departments they are auditing. This will help to ensure that everyone understands their role and the expectations for the audit process. Develop policies and procedures that promote independence and objectivity. This includes establishing a code of ethics for auditors, as well as guidelines for maintaining independence and avoiding conflicts of interest.
Data Accuracy	Auditing often involves the collection and analysis of large amounts of data. The internal audit team must ensure that data is accurate, secure, and easily accessible to relevant stakeholders within the bank.	Data Encryption: Implement strong encryption measures to protect the sensitive data used in auditing processes. This ensures that the data remains secure and inaccessible to unauthorized individuals, minimizing the risk of data breaches or tampering. Access Controls and User Permissions: Implement robust access controls and user permissions to ensure that only authorized individuals have access to the auditing data. This helps prevent unauthorized access, accidental data modifications, and reduces the risk of data integrity issues.
Ensuring consistency across the organization	The regulatory compliance team must ensure that compliance requirements are consistently applied across the organization, particularly in cases where the bank operates in multiple jurisdictions with different regulations and requirements.	Standardized Compliance Policies and Procedures: Implementing a set of standardized compliance policies and procedures across the organization helps ensure consistent application of compliance requirements. These policies should address key regulatory areas and be regularly updated to reflect changes in regulations. Robust Compliance Training and Awareness Programs: Conduct regular training sessions and awareness programs to educate employees about compliance requirements and the consequences of non-compliance. This helps promote a culture of compliance and ensures employees understand their responsibilities in adhering to regulatory requirements.
Ensuring coverage of all risk areas	The bank may have a wide range of risk areas, and it can be challenging for the internal audit team to ensure adequate coverage of all areas within a limited amount of time and resources.	Risk-based prioritization: Implementing a risk-based approach allows the internal audit team to prioritize areas of higher risk and allocate resources accordingly. By focusing on the most critical areas, they can ensure adequate coverage within the available time and resources. Continuous monitoring and automated tools: Leveraging technology and automated tools for continuous monitoring can help the internal audit team identify potential risks and anomalies more efficiently. This allows for proactive monitoring of various risk areas, reducing the reliance on manual efforts and enabling better coverage with limited resources.
Keeping up with changing regulations	Internal audit teams must stay up-to-date with evolving regulations and compliance requirements to ensure that audit plans remain relevant and effective.	Establish a Regulatory Intelligence System: Implementing a robust regulatory intelligence system allows internal audit teams to continuously monitor and stay informed about evolving regulations and compliance requirements. This system can include subscriptions to regulatory news updates, participation in industry forums, and engagement with regulatory bodies. Regular Training and Professional Development: Provide regular training and professional development opportunities to internal audit teams to enhance their knowledge and understanding of regulatory changes. This can include attending conferences, webinars, and workshops focused on regulatory compliance, as well as encouraging professional certifications such as Certified Internal Auditor (CIA) or Certified Regulatory Compliance Manager (CRCM).
Maintaining stakeholder trust	The internal audit team must maintain the trust and confidence of stakeholders, including senior management and the board. This can be challenging when audit findings may reveal weaknesses or gaps in the bank's operations or compliance practices.	Clear and Transparent Communication: Establishing open and honest lines of communication with stakeholders, senior management, and the board is essential for maintaining trust. Regularly sharing audit findings, including weaknesses or gaps, in a transparent manner helps stakeholders understand the importance of addressing these issues and demonstrates the internal audit team's commitment to improving the bank's operations and compliance practices. Proactive Risk Assessment and Mitigation: Conducting comprehensive risk assessments allows the internal audit team to identify potential weaknesses and gaps in advance. By proactively addressing these issues through targeted audits and risk mitigation strategies, the team can minimize surprises and demonstrate their commitment to mitigating risks.
Managing data	Compliance often involves the collection and analysis of large amounts of data. The regulatory compliance team must ensure that data is accurate, secure, and easily accessible to relevant stakeholders within the bank and to regulators.	Data Governance Framework: Implementing a robust data governance framework is crucial to ensure accurate and secure data. This involves establishing policies, procedures, and controls for data collection, storage, processing, and access. It also includes data quality management, data classification, data retention, and data privacy measures. Data Security Measures: Implementing strong data security controls is essential to protect sensitive data from unauthorized access or breaches. This includes encryption of data in transit and at rest, access controls and authentication mechanisms, regular security assessments, intrusion detection systems, and incident response procedures.
Managing regulatory relationships	The regulatory compliance team must maintain positive relationships with regulators and ensure that the bank is responsive to regulatory inquiries and requests.	Establish a robust regulatory compliance program: Implement a comprehensive framework that includes policies, procedures, and controls to ensure adherence to regulatory requirements. This program should include regular monitoring, reporting, and internal audits to identify and address any compliance gaps proactively. Develop a strong regulatory communication strategy: Maintain open and transparent lines of communication with regulators to foster positive relationships. This includes promptly responding to regulatory inquiries, providing requested information in a timely manner, and actively engaging with regulators to address any concerns or issues.
Providing training and education	The regulatory compliance team must provide training and education to employees to ensure that they understand their compliance responsibilities and are equipped to comply with applicable laws, regulations, and industry standards.	Develop comprehensive training programs: Create and implement structured training programs that cover relevant laws, regulations, and industry standards. These programs should provide clear guidance on compliance responsibilities and equip employees with the knowledge and skills needed to comply effectively. Regularly assess and update training materials: Continuously review and update training materials to ensure they reflect the latest regulatory requirements and industry best practices. Conduct periodic assessments to measure the effectiveness of the training and identify areas for improvement.

Regulatory Compliance: key risks and controls

Accountable for ensuring that the bank abides by all relevant laws and rules, including those concerning consumer protection, know-your-customer (KYC), and anti-money laundering (AML).

Risk	What can go wrong	Best-practice controls
Balancing compliance with business needs	The compliance unit must balance the need for regulatory compliance with the bank's business objectives. This can be challenging, as compliance requirements may sometimes conflict with the bank's desire to grow and expand.	Establish a robust compliance framework: Implement a comprehensive compliance framework that includes policies, procedures, and controls to ensure regulatory compliance while aligning with the bank's business objectives. This framework should provide clear guidelines on how to handle situations where compliance requirements conflict with growth objectives, ensuring transparency and accountability. Conduct regular risk assessments: Regularly assess the compliance risks associated with the bank's business objectives and activities. This helps identify potential conflicts between compliance requirements and growth objectives early on, allowing the compliance unit to proactively address and mitigate these risks through appropriate measures.
Dealing with regulatory authorities	The compliance unit must interact with regulatory authorities, such as the Federal Reserve or the SEC, and ensure that the bank is meeting all regulatory requirements. This can involve responding to inquiries, providing documentation, and participating in audits and inspections.	Develop a robust compliance management system that includes policies, procedures, and processes for monitoring and assessing compliance with regulatory requirements. Establish a dedicated compliance team with the necessary skills and expertise to interact with regulatory authorities and ensure compliance with regulatory requirements. Conduct regular compliance training for all employees to ensure they understand their roles and responsibilities in meeting regulatory requirements. Maintain a comprehensive record-keeping system to enable easy access to relevant documentation and information required by regulatory authorities.
Ensuring employee compliance	The compliance unit must ensure that all bank employees are aware of and adhere to regulatory requirements. This may involve providing training, conducting audits, and establishing reporting mechanisms for potential compliance violations.	Establish a comprehensive compliance training program that covers regulatory requirements relevant to each employee's job function and responsibilities. Conduct periodic training sessions and assessments to ensure that employees understand the regulatory requirements and their responsibilities. Establish a compliance audit program to assess adherence to regulatory requirements and identify any areas of non-compliance. Establish a reporting mechanism for employees to report potential compliance violations or concerns. Implement disciplinary actions for non-compliance or failure to report violations. Establish a compliance monitoring program to track employee compliance with regulatory requirements on an ongoing basis.
Keeping up with regulatory changes	The regulatory environment is constantly evolving, and the regulatory compliance team must stay up-to-date with changes to regulations, laws, and industry standards to ensure that the bank remains compliant.	Regulatory Monitoring and Alert System: Implementing a robust regulatory monitoring and alert system that continuously scans for updates to regulations, laws, and industry standards is crucial. This system should provide real-time notifications to the compliance team about any changes that affect the bank's operations, enabling timely action. Regulatory Compliance Training and Awareness Programs: Conduct regular training sessions and awareness programs for the regulatory compliance team to enhance their knowledge and understanding of evolving regulations. This includes providing access to relevant resources, such as regulatory publications, industry forums, and training materials, to keep them well-informed and equipped to interpret and apply new requirements effectively.
Managing compliance risks	The compliance unit must identify and manage potential compliance risks, such as money laundering, fraud, and data breaches. This involves establishing policies and procedures, monitoring transactions, and investigating suspicious activity.	Risk assessment and policy development: Conduct a comprehensive risk assessment to identify potential compliance risks such as money laundering, fraud, and data breaches. Develop robust policies and procedures that outline clear guidelines for compliance and risk management. Transaction monitoring and reporting: Implement a robust system for monitoring transactions in real-time. This includes employing automated monitoring tools and technologies that can flag suspicious activities or patterns. Establish clear reporting channels to escalate and investigate any suspicious transactions promptly.

Training and Awareness: key risks and controls

Accountable for educating bank staff about compliance issues and giving them compliance training.

Risk	What can go wrong	Best-practice controls
Addressing cultural and behavioral challenges	Compliance is not just about following rules; it also involves fostering a culture of ethical behavior and ensuring that employees are aware of their compliance responsibilities. The training and awareness team must address cultural and behavioral challenges to ensure that compliance requirements are embedded into the bank's operations and culture.	Leadership commitment and tone at the top: Senior management should demonstrate a strong commitment to ethical behavior and compliance by setting a positive example, communicating expectations clearly, and actively participating in compliance initiatives. This helps foster a culture of compliance throughout the organization. Comprehensive training and awareness programs: Develop and implement robust training programs that educate employees about compliance requirements, ethical behavior, and their responsibilities. These programs should be tailored to different employee roles, regularly updated to address emerging risks, and incorporate interactive elements to enhance engagement and understanding.
Customizing training to different audiences	The training and awareness team must develop training programs that are tailored to different audiences within the bank, such as front-line employees, managers, and executives. This can be challenging when different audiences have different levels of knowledge and experience.	Before developing the training programs, conduct a training needs analysis to identify the specific knowledge gaps and skill deficiencies of each audience group. This will help in tailoring the training programs to the different audience groups and ensure that they are effective in meeting their learning needs. Develop different training modules that are tailored to each audience group's needs. For example, front-line employees may require basic training on compliance and regulatory requirements, while managers may require more advanced training on risk management and leadership.
Ensuring training is accessible and available	The training and awareness team must ensure that training programs are accessible to all employees and available in multiple formats, such as online, in-person, or on-demand.	Develop an online training platform: Implementing an online training platform provides accessibility to all employees, allowing them to access training materials at their convenience. It ensures that training programs are available in multiple formats, as employees can choose to participate online, watch recorded sessions, or access training materials on demand. Conduct regular in-person training sessions: In-person training sessions are an effective way to engage employees and provide a hands-on learning experience. By scheduling regular in-person sessions, the training and awareness team can ensure that employees have opportunities to participate in interactive training programs and ask questions directly to the trainers.
Ensuring training is engaging and effective	The training and awareness team must develop training programs that are engaging and effective in conveying complex compliance concepts to employees. This can be challenging when compliance topics may be dry or technical in nature.	Conduct a training needs assessment to identify areas where employees need the most training, and tailor training programs to address those specific needs. Use a variety of training methods, such as interactive e-learning modules, workshops, videos, and simulations, to make the training more engaging and effective. Create training materials that are visually appealing and easy to understand, using graphics, diagrams, and infographics to help explain complex concepts. Use real-world scenarios and examples to illustrate the importance of compliance concepts and their practical application in the workplace.
Keeping up with regulatory changes	The regulatory environment is constantly evolving, and the training and awareness team must stay up-to-date with changes to regulations, laws, and industry standards to ensure that the bank's training programs remain relevant and effective.	Establish a Regulatory Intelligence Program: Implement a systematic process to monitor and track regulatory changes, laws, and industry standards. This includes subscribing to regulatory update services, conducting regular reviews of relevant regulatory sources, and assigning dedicated personnel responsible for maintaining up-to-date knowledge. Implement Continuous Training and Awareness Programs: Develop comprehensive training programs that cover regulatory updates, laws, and industry standards. This should include regular training sessions, workshops, or e-learning modules to educate employees about changes and their implications. Ensure that the training content is relevant, accessible, and engaging for all employees.
Managing resources	The training and awareness team must manage resources effectively to ensure that training programs are delivered on time and within budget.	Resource allocation and planning: Effectively managing and allocating resources is crucial to ensure that training programs are delivered on time and within budget. This involves identifying the necessary resources, such as personnel, materials, and technology, and planning their allocation in a coordinated manner. Budget monitoring and control: Implementing a robust budget monitoring and control process allows the training and awareness team to track and manage expenses throughout the training program. This involves setting a realistic budget, regularly monitoring actual spending, and making necessary adjustments to ensure that costs remain within the allocated budget.
Measuring the effectiveness of training	The training and awareness team must measure the effectiveness of training programs to ensure that they are achieving their intended goals and to identify areas for improvement.	Performance Metrics and Evaluation: Implement a comprehensive system to measure the effectiveness of training programs. This includes defining clear goals and objectives, establishing key performance indicators (KPIs), and regularly evaluating the outcomes against these metrics. Use surveys, quizzes, assessments, and feedback mechanisms to gather data on participant satisfaction, knowledge retention, skill improvement, and behavior change. Continuous Feedback Loop: Establish a mechanism for ongoing feedback and communication between the training team and participants. This can involve post-training surveys, focus groups, interviews, or regular check-ins to gather insights on the relevance, usefulness, and applicability of the training content. Actively address concerns, questions, and suggestions raised by participants to improve the training.

This register is a starting point for risk identification and benchmarking against international practice. Adapt the risks and controls to your institution's size, products, jurisdiction and regulatory requirements.

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Frequently asked questions

What are the key risks in Compliance?

The main risk areas covered are Compliance Policy and Governance, Fraud Prevention and Investigation, Internal Audit, Regulatory Compliance, Training and Awareness. Each unit lists its key risks with a short explanation and the best-practice controls that mitigate them.

How do I use this register for a risk and control self-assessment?

Select the risks that apply to your units, map the listed controls to the controls you actually operate, rate inherent risk and control effectiveness, then agree actions for gaps. The free RCSA workbook on this page has the columns ready.

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