If your Thanksgiving was anything like mine, you have leftover food. It’s a poor allocation of resources, but Thanksgiving has turned into a weekend of excess. Excess food, excess shopping, excess football, excess dessert, excess waistline. Perhaps your compliance program is also filled with leftovers.
Very few compliance officers would say that they have more resources than they could possibly need or put to good use. Compliance departments are not packed full of tupperware with stuff to be used later. Compliance is a cost center.
Most firms are not starving their compliance programs, trying to trim fat. A typical fund manager wants to bountiful compliance program that addresses the risks to the firms. Regulators and, more importantly, investors expect and demand a robust compliance program.
Are there items on your compliance program that are related to risks no longer present at the firm. Do you have that container full of leftovers from 2009 hiding in the back of your fridge taking up room?
Leftover Turkey by Andrew Nash
CC BY SA