Risky Women + Square Facts London: Breaking Risk and Compliance Boundaries

We were delighted to host a Risky Women breakfast in London with Square Facts featuring Ruth Steinholz of AretéWork, Nadia Minors of HSBC, and Saadia Mujeeb of Macquarie Bank Europe to explore navigating increased due diligence complexity and building a culture of compliance.

Our expert speakers, provided valuable insights on shaping the company culture around compliance and ethics, managing financial crime and due diligence in the context of innovation, and adapting to increased pressure on internal compliance teams for due diligence in the context of Brexit.

Here is a brief summary of the key takeaways from the event:

1. Importance of Ethics, Values, and Culture in Compliance: We delved into the vital relationship between ethics and compliance, highlighting the significance of healthy company values and culture. Compliance, when driven by shared ethical values and a comprehensive understanding of ethical dilemmas, can contribute to improved company behavior and societal outcomes.
2. Client Due Diligence and Onboarding: Our discussions covered the importance of client due diligence and effective onboarding processes for both new and existing clients. We explored the components assessed during the due diligence process, the reasons for initiating client exits, and strategies to manage cross-border client complexities.
3. High-Risk Entities and Cross-Border Challenges: We examined the approval processes for high-risk clients, the complexities surrounding cross-border relationships, and the strategies for derisking. 

Additionally, we touched upon the role of human intelligence and technology, such as chat GPT, data mining, and blockchain, in compliance challenges.