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Compliance and Regulation Risk Assessment
Create a professional, comprehensive risk assessment for compliance and regulation in financial services settings. Tailor hazards and measures to your needs and download a professional PDF. Add your own branding.
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What this covers
This template focuses on typical risks and controls for compliance and regulation in financial services settings. You can add, remove or adapt items to match your context.
Potential benefits
Ensures adherence to legal and regulatory standards.
Enhances trust and credibility with stakeholders.
Promotes ethical practices and corporate governance.
Mitigates risks of penalties and legal disputes.
Reduces reputational risks through proactive management.
Typical hazards & measures
Unaddressed network vulnerabilities
— Perform comprehensive penetration testing bi-annually, maintain a patch management program to address known vulnerabilities, deploy advanced firewalls, and integrate real-time intrusion detection systems (IDS). Train staff on recognizing cyber threats.
Non-compliance with intellectual property laws
— Implement policies to respect intellectual property rights, conduct regular audits to ensure compliance, and provide training on intellectual property laws.
Inadequate incident response planning
— Develop detailed incident response playbooks for various scenarios, including cyberattacks, fraud, and service outages. Test plans through bi-annual drills, ensure roles are clearly defined, and involve external experts for evaluation.
Failure to comply with environmental regulations
— Conduct environmental impact assessments, implement sustainable practices, and ensure compliance with environmental laws. Provide training on environmental responsibilities.
Inadequate data security controls
— Develop a layered security framework, including robust encryption for data at rest and in transit, multi-factor authentication, access control policies, and continuous monitoring. Conduct regular third-party security audits and implement incident response plans for breaches.
How to use this template
Click Create Risk Assessment: Compliance and Regulation to begin immediately.
Review suggested hazards and measures, then tailor as needed.
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