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- Title
Enterprise Risk Management: Where is Legal and Compliance?
- Authors
Baxter Jr., Thomas C.; Chai, Won B.
- Abstract
This article proposes a flexible approach to integrating the legal and compliance functions of an organization into its enterprise risk management framework. Existing guidance on the role of legal and compliance is often too rigid, leading to misallocation of responsibilities and duplicative efforts. In contrast, leveraging of past practice and existing expertise would help avoid common pitfalls in the implementation of a risk management framework and preserve unique benefits.
- Subjects
RISK management in business -- Law &; legislation; COMPLIANCE laws; FINANCIAL crises; BERNANKE, Ben, 1953-; UNITED States. Financial Crisis Inquiry Commission; FINANCIAL institutions
- Publication
Banking Law Journal, 2016, Vol 133, Issue 1, p3
- ISSN
0005-5506
- Publication type
Article