Assessing Conduct Risk – A Checklist Solution

We would normally be the last people to recommend check list compliance as an option.

When should a risk assessment be carried out?

Sometimes, all you need to get the ball rolling is a check list. That in itself brings in further challenges, as you ask yourself, what do I put in as a question, when I may already know the answer and cannot counter my personal bias?

What is a conduct risk assessment?

A conduct risk assessment is simply a careful examination of what, in your firm’s work, could cause harm to clients, so that you can weigh up whether you have taken enough precautions regarding conduct, or should do more to prevent harm.

The Answer is clear – The Compliance Consultant “Conduct Risk Stress Test Assessment Template”

The checklist gives you 4 pages of questions, thus creating steps to risk assessment, in the sections of;

• Risk Assessment

• Oversight, Framework and Leadership

• Standards

• Alignment with HR Practices

• Communications and Training

• Reporting & Response

• Monitoring and Assessment

• Culture

And it includes Bonuses, promotions, exit strategy, internal code of conduct and many more!

This simple conduct risk assessment template is a powerful addition to your annual compliance monitoring plan (buy yours here!) will help you assess your initial and ongoing Conduct Risk Improvements.

• It will show any 3rd party the developments you have embarked on.

• Show staff what changes you have made

• Identified the cultural risks that lurk in every organisation

• Can be done company wide or departmentally

• Can be used as qualitative Management Information for the Board/Partners

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