To be effective, compliance risk management professionals must design a framework to ensure that bank management understands the risks and the steps that must be taken to mitigate them. The many roles compliance professionals fill incorporate risk management aspects including:

Question

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All of the choices listed incorporate risk management aspects that compliance professionals must incorporate into their roles to effectively manage compliance risks. Coordinating regulatory exams, overseeing compliance training, and tracking regulatory proposals and final rulings are all critical steps in designing a framework to mitigate compliance risks.

To Be Effective, Compliance Risk Management Professionals Must Design a Framework