Working in compliance offers an exceptionally rewarding and stimulating career opportunity, filled with dynamic challenges and significant impacts. However as with any career there are challenges. In this recent article by Sarah Butcher from eFinancialCareers it addresses some of the known challenges. While the headline may seem exaggerated, some points raised do accurately reflect the substantial challenges facing the compliance sector in banking and finance. There is an urgent need for strategic reforms to address these issues effectively. As members of the #globalcompliancecommunity, it is incumbent upon us to #collaborate and explore effective strategies to enhance our practices. Without sounding cheesy - we need to build a better today for the #complianceofficer of tomorrow. 1. Challenging Environment Compliance roles in banking and finance, once seen as rewarding, now suffer from high stress and "regulatory overload". Professionals report poor mental health and high anxiety due to constant pressure. 2. Cost Cutting Impacts Risk Controls As banks reduce expenses, compliance departments feel the brunt. Staff reductions lead to increased workload for remaining employees who are pressured to maintain operations without the resources to effectively manage risks or improve efficiency. 3. Conflict with Front Office impacting compliance culture Compliance staff must often challenge salespeople and traders over unethical behaviors which may not always be supported by higher management - creating a very challenging compliance culture. Culture must be driven top down. 4. Future of Compliance Work - TRAINING!!! The future of compliance is heavily dependent on automation and AI, shifting skill sets to strategic advisory roles. Compliance professionals need to already be upskilling in new technical skills and data analytics skill sets to remain relevant - whilst developing deeper product, risk and regulatory understanding.
RAW Compliance
E-learning
Empowering the Global Compliance Community - Igniting Excellence, Innovation, and Risk Transformation through Training
About us
Our goal is simple yet profound: Empowering the Global Compliance Community to Ignite Excellence, Drive Innovation, and Transform Risk. Our goal is to arm our members with the expertise needed to steer transformative innovation in the compliance space through information sharing, mentoring and training - to foster continuous learning for #complianceofficers globally and create a platform for innovative discussions shaping #compliancerisk controls. With the invaluable contributions of top professionals worldwide, our achievements to date resonate with our mission: - Training over 7500 individuals globally for Free - Conducting approx 50 webinars - Launching 6 masterclass certification programmes, RAW Compliance also provides a global AI-driven education platform for compliance professionals and organisations to develop new skills, learn from experts, collaborate, network and try new initiatives. We aspire to empower our members through education programs that meticulously assess and adapt to evolving risks, regulatory shifts, and enforcement dynamics. On CSR at RAW, our commitment extends beyond business to social responsibility. We believe that financial constraints should never hinder one's career in compliance. That's why we allocate up to 10% of our annual profits to reinvest in free education and scholarship programs, ensuring that opportunities in compliance roles are accessible to all. Removing financial barriers to career advancement. In addition we facilitate connections through mentor mentee programs
- Website
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http://www.rawcompliance.com
External link for RAW Compliance
- Industry
- E-learning
- Company size
- 2-10 employees
- Headquarters
- Global
- Type
- Educational
- Founded
- 2020
- Specialties
- Training, Financial Crime, Regulatory Compliance, community, Compliance, Culture, Compliance culture, Ethics, Cyber Security, Trade Based Money Laundering, Market Abuse, Conflicts of Interest, Counter Terrorist Financing (CFT), Anti-Money Laundering, Community Building, and Compliance Officers
Locations
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Primary
Global, OO
Updates
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RAW Compliance is on the conference circuit this week, heading first to the beautiful city of Dublin, Ireland 🇮🇪 for the EU Financial Crime Summit hosted by AMLintelligence.com Our main focus in the upcoming discussions will be on the use of #AI in Compliance, particularly in combating #financialcrime. It is a privilege and home coming for our founder, Oonagh van den Berg (Lady) to represent RAW Compliance and contribute to building the global compliance community. We are truely humbled to be included alongside esteemed speakers in such an incredible lineup. Our mission is to provide #free and #affordable training to #complianceofficers worldwide, enhancing risk controls and driving #innovation. Our training is designed to equip individuals with the tools and skills necessary to effectively perform their roles and apply these insights directly on the job. Let's continue to make a difference. #bethedifferenceyouwanttosee #onthetrain
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FINTRAC Canada released a new report titled "The role of #virtualcurrency automated teller machines #ATM in laundering the proceeds of crime." It reports a rise in the use of virtual currency ATMs in money laundering, especially in the placement stage of the laundering process. Findings and Trends include: ➡️ Anonymity and Accessibility The machines are favored due to their ability to anonymously convert fiat currency to virtual currency and vice versa, making them susceptible to criminal misuse. ➡️ Predominant Criminal Activities The most common crimes associated with these ATMs are fraud, human trafficking for sexual exploitation, and various cybercrimes. ➡️ Criminal Techniques - Use of money mules to mask the identity of fund controllers. - Provision of falsified or altered identifiers (e.g., phone numbers, birth dates). - Structuring deposits and withdrawals to stay below the CAD $999 threshold to evade scrutiny. ➡️ Geographic Hotspots High volumes of suspicious transactions are predominantly noted in the Greater Toronto Area, Greater Montréal Area, Metro Vancouver, and other cities like Edmonton, Calgary, and Winnipeg. ➡️ Association with Illicit Services - Transactions frequently linked to darknet markets, online gambling platforms, and high-risk peer-to-peer exchanges. - Usage of mixers to obscure the trail of funds derived from criminal activities. ➡️ Behavioral Patterns - High frequency of transactions conducted in small amounts to circumvent detection. - Transactions often occur outside of usual business hours (9 p.m. to 3 a.m.) to further avoid detection. ➡️ Regulatory Challenges These activities highlight the challenges in enforcing anti-money laundering (AML) and anti-terrorist financing (ATF) regulations, especially with evolving technologies that provide new methods for criminals to launder money. #crypto #cryptocompliance
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Ready to unlock the power of Blockchain Technology Solutions? 🌐 Our comprehensive training ensures you grasp the essence of blockchain and its real-world applications. Gain the confidence to navigate decentralized systems, craft innovative solutions, and thrive in the ever-changing blockchain landscape. Join us at RAW Compliance to dive deep into this transformative technology! Enroll now for a journey of learning and empowerment: https://lnkd.in/e3BVbgWh 👉 First session is free! #rawcompliance #compliancetraining #complianceofficers #Blockchain #Technology #Innovation #Training #crypto #blockchaintechnology
Blockchain Technology Solutions Training
rawcompliancehub.com
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Want to know more about the European Union Anti-Money Laundering and Countering the Financing of Terrorism Authority (EU AMLA)? Explore our 101 training course and discover key information about the EU AMLA, including its purpose and aims, location and benefits, and key roles and responsibilities. Now available in 6 languages! 🇬🇧 🇫🇷 🇳🇱 🇨🇳 🇮🇳 🇪🇸 Enroll today and stay ahead of the regulatory curve! 👉 Learn more for free: https://lnkd.in/e73dMAsT #rawcompliance #AML #antimoneylaundering #EUregulations #financialregulations #regulations #compliance #complianceofficers #compliancetraining #financialservices
101: EU AMLA
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Want to stay up to date with the latest RAW Compliance happenings? Subscribe to our newsletter for: ✅ Expert insights ✅ Regulatory updates ✅ Valuable resources tailored to professionals like you Don't miss out on the latest in compliance knowledge! 👉 Subscribe today: https://lnkd.in/e3UkNAEc #RAWCompliance #ComplianceKnowledge #compliance #complianceofficers #compliancecommunity
RAW Compliance
rawcompliance.m-pages.com
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Dive into the newly created European Union Anti-Money Laundering and Countering the Financing of Terrorism Authority (EU AMLA) with our 101 training course! 🔍 Our course simplifies complex topics such as: ✅ Purpose and aims of the EU AMLA ✅ Key information about the EU AMLA ✅ Location and its benefits ✅ Key roles and responsibilities 🌍 Now available in 6 languages: 🇬🇧 English 🇫🇷 French 🇳🇱 Dutch 🇨🇳 Chinese (Mandarin) 🇮🇳 Hindi 🇪🇸 Spanish 👉 Watch for free: https://lnkd.in/e73dMAsT #rawcompliance #EUregulation #regulation #AML #Compliance #RegulatoryTraining #compliancetraining #financialregulation
101: EU AMLA
rawcompliancehub.com
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Our webinar, "Breaking Barriers: Unifying Operational Risk and Compliance," starts today! Join industry experts as we explore innovative strategies to bridge the gap between operational risk and compliance. Don't miss out on this invaluable opportunity! 🎟 Register now: https://lnkd.in/ev2TPv6W 👉 It's Free! #rawcompliance #OperationalRisk #Compliance #BreakingBarriers
Webinar- Breaking Barriers: Unifying Operational Risk and Compliance
rawcompliancehub.com
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🚀 Stay ahead of the game with the latest in EU's Anti-Money Laundering Package! This 101 course aims to simplify topics such as: • Overview of the EU's Anti-Money Laundering Package • Key amendments and enhancements to the existing regulatory framework • The introduction of transaction thresholds and enhanced due diligence measures • The establishment of beneficial ownership registers • The importance of effective supervision 📺 Watch here: https://lnkd.in/eqbwBfdp #rawcompliance #AML #EURegulations #FinancialSecurity #compliance #antimoneylaundering #regulations #financialregulation #financialinstitutions
101: Overview of the EU's Anti-Money Laundering Package
rawcompliancehub.com
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🔍 Unlock the secrets of risk management! This 101 video provides an overview of various types of risks impacting financial institutions, including financial, operational, reputational, regulatory, compliance, strategic, and cybersecurity risks, and how it can impact your organisation. 👉 Learn more: https://lnkd.in/ePWP9phH #rawcompliance #RiskManagement #FinancialInstitutions #compliancerisk #complianceofficers #compliance
101: Understanding Types of Risks
rawcompliancehub.com