Compliance within Businesses

Compliance risk refers to the risk of an organization being sanctioned for non-compliance with legal or regulatory integrity and behavioral rules. This can result in financial and reputational damage to your business.

To mitigate these risks, having an appropriate organizational structure is essential. In the case of financial institutions, the establishment of a compliance function is mandatory.

Engage the Right Expert

The person responsible for compliance may seek assistance from an external expert, a role that DGDM can fulfill. We highly recommend engaging an expert because compliance risk can encompass a wide range of domains, making it challenging to stay up to date with all of them. Additionally, the perspective of an external expert from a governance standpoint is strongly recommended when it comes to integrity and behavioral rules.

DGDM has already assisted numerous financial institutions and businesses, including accounting firms, in developing, implementing, and advising on sound, robust, and adequate compliance policies. Moreover, we can leverage an extensive international network of lawyers and consultants to provide even broader support.

As experts in compliance, we can advise you on:

• Establishing an appropriate organizational structure focused on compliance and regulatory matters
• Identifying, mitigating, and continuously monitoring compliance risks for your business
• Implementing new policies and procedures related to compliance within your organization (e.g., customer acceptance procedures for AML, FATCA, CSR, etc.)
• Training and supporting employees in the implementation of these policies
• Monitoring and supporting communication with regulatory authorities
• Ensuring strict adherence to mandatory reporting by financial institutions, auditors, and accounting firms to regulatory authorities (e.g., the National Bank, the FSMA, etc.)