This paper outlines the aspects of risk management that are applicable to insuring and insurance broking operations. Insurance is a risk‐accepting, rather than risk‐averse activity; thus its own risk management has to concentrate on the proper appreciation of changing patterns of risk in an...

Within a retail bank, the key risks relate to customers and the way in which the bank deals with them, rather than to financial markets. This paper identifies those key risks, comments on some implications for organisational structure and suggests ways in which these risks can be managed.

This paper sets out the fundamental generic concepts behind applying a risk‐based approach to monitoring compliance with PIA's regulations. It also looks at some of the practical considerations for implementing such a system. Every insurance company understands the concept of identifying and...

This paper provides an overview of some of the key drivers for the compliance officer's contribution to risk management in a complex group situation. The importance of ensuring the compliance officers's proximity to the business is emphasised against the backdrop of the need to manage competing...

The Department of Trade and Industry (DTI) issued a consultation document in November 1998, which set out a framework for the independent regulation of the accountancy profession. This framework broadly adopts the proposals put forward by the profession itself. In this paper, the focus is on...

In recent years, investment management companies and other financial service entities have placed an increasing emphasis on strengthening their compliance departments and systems. Factors contributing to this heightened emphasis on compliance include the globalisation and growth of the financial...

Concern over the standards of corporate governance in the UK has led to the publication of three committee reports: Cadbury, Greenbury and, most recently, Hampel. Following the publication of the Hampel Report, the Hampel Committee has produced a document providing a set of principles and codes...