Natalie is a compliance management consultant who has been asked to lend her expertise to First Order Financial (FOF), a financial institution that is struggling with compliance management. Upon investigation, Natalie concludes that the organization's compliance approach is in disarray. The organization's management structure and processes have led to a lack of resource allocation for the compliance function. In Natalie's opinion, this has made the organization vulnerable to serious risks and will continue to do so unless a more robust compliance function is put in place. After hearing Natalie's presentation on the state of the compliance function, many board members are understandably concerned. They ask her to suggest how the issues could be remedied. Natalie turns to the Generally Accepted Compliance Practice (GACP) framework for help. One of the board members, David, discreetly approaches Natalie after the presentation. He admits that he is not as familiar with compliance and compliance management as some of his fellow board members seem to be and asks her to give him a quick crash course. Put yourself in Natalie's shoes and help David better understand compliance and compliance management

Briefly describe the roles and responsibilities of the compliance function. In your response, highlight why David should value the compliance function.

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Surely David let me furnish you with a speedy intense training on compliance and compliance the board 1 Definition of Compliance Compliance alludes to the adherence to regulations guidelines strategie... View the full answer