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Bobby ONeal

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So far Bobby ONeal has created 49 entries.

Rethinking Risk and Compliance for the Future of Banking

Banking is evolving – shouldn’t risk and compliance management evolve along with it?
Change and progress are constant – the banking sector has always been improving its services by using the latest available technology. However, sometimes the changes are more than incremental – sometimes we can have a paradigm shift which completely changes the way things are done. Banking may be undergoing such a shift, towards a new normal. It is important to take a step back and reassess processes and priorities whenever there is a major […]

Detect Issues and Violations Early Through Compliance Monitoring

The importance of compliance controls cannot be overstated. Having the right compliance framework is important not just to management, but to the regulatory bodies as well. The biggest compliance penalties are usually levied on banks which did not have the proper controls in place, because it represents a structural failure. That is why compliance monitoring is such an essential cornerstone for any compliance program that aims to be as effective as possible.

What is compliance monitoring?
The meaning of compliance monitoring is a bit different in the context […]

Identifying and Eliminating the Time Sinks in Regulatory Change Management

The Pareto Principle, which states that 80% of the results are generated from 20% of the efforts certainly applies to regulatory change management. Regulatory experts spend an inordinate amount of time doing work that is a necessary prerequisite to their work and much less time on the actual work at hand. The good news is that it is possible to eliminate a lot of the menial tasks that take up time to allow the experts to focus on change management.

Identifying the 80% that doesn’t help the […]

The Impact of Specialized Solutions on Compliance Monitoring Programs

New features in a technology always looks enticing but it is also important to see what impact it will have in the way our business operates. Compliance monitoring is an important part of compliance management solutions under the GRC umbrella. What impact does monitoring have on enforcement programs? How does it benefit businesses? Let’s have an in-depth look at the subject.

The link between compliance monitoring and enforcement programs
Compliance monitoring plays an essential role in ensuring that enforcement programs succeed. They change the way businesses operate, making […]

Augmenting QA Testing to Achieve Better Compliance

QA testing is essential to ensure that the organization’s compliance framework is working as intended. Businesses put a lot of thought, time, and investment into their compliance controls. These controls are important because they can prevent a compliance problem for occurring and they also help in detecting problems to ensure that they can be resolved before they damage the organization. A major compliance violation can result in heavy monetary penalties by regulatory bodies, loss of reputation, and a loss of clients as well.

What is QA testing?
QA […]

High Risk Banking Challenges



In recent years, the banking and financial industry has experienced the creation and introduction of many new markets outside of the traditional banking segments. The introduction of these markets is taking place so fast that there are stark contrasts to how compliance and risk will be applied at the state and federal level. The speed and complexity over the growth of these markets and the uncertain regulations that can accompany them make them high risk with the potential of high reward.

Cannabis Banking
With the legalization of […]

The 4 Necessary Components of A Sustainable Risk Management Framework

Risk management isn’t something that can be focused on once or for a specified time period – it is a continuous process that always needs to run optimally. This is also why getting consistent improvement in managing risks can be such a struggle for businesses – it requires constant vigilance and commitment throughout the year. Most businesses have dedicated risk management framework personnel and these personnel act as the only defense the business has against risks. We do not believe that this arrangement is sustainable. Any […]

Do Your Organization’s Compliance Officers Have The Compliance Tools They Need?



We all expect the highest level of performance from the compliance departments within our organization. Compliance is critical to any business in a regulated industry, and a misstep in compliance can cause significant damage to the business, its reputation, cash flow, and even its ability to make its own decisions. Everyone knows this importance, yet most compliance officers don’t seem to have the compliance tools that they need.
The perils of off-the-shelf general-purpose software
Most business provide their risk and compliance departments with general-purpose software such as Microsoft […]

Does Your Business Have a Proactive Risk Management Program?



Risk management is a core component in the financial sector which is why almost every business in the sector has a risk management team. However, most businesses do not have a proactive risk management program. There is a general perception that risk management is fueled simply by passion and dedication – that all we need to improve the way risks are managed is to have our risk personnel work hard. One cannot turn a reactive and manual program into a proactive program simply through attitude – […]

Minimizing Internal Audit Risk Factors



Internal audit is considered an integral part of management and a fundamental element of corporate governance. The dynamic changes of the world economy, the new tools and the new directions of internal audit development are useful for management and give added value to organizations. These factors have given rise to a new image of the auditor, a figure endowed with a wide range of skills and good practices adapted to the needs of the operating context. They have also increased the audit risk factors that need […]