Methodical instructions for practical classes from the discipline "Compliance management in the financial and credit sphere"

Abstract

Compliance is one of the necessary conditions for the implementation of strategic decisions to ensure business continuity from the point of view of fulfilling previously accepted obligations. The purpose of studying the discipline is the analysis and systematization of general approaches to the organization of compliance management in financial and credit institutions in order to reveal the optimal strategies, methodologies and tools necessary to ensure a high level of compliance with legislation, regulatory requirements and ethical standards in the activities of enterprises. Every organization, being an integral part of society, is responsible for observing the rules of behavior formed in society. As a result, the number of managers who are aware of the need to implement a comprehensive approach to monitoring and assessing the compliance of implemented strategies in accordance with existing norms and standards is increasing. The definition of compliance management is drawn up as an integral element of the company's management system, which provides sufficient confidence in the absence of violations of requirements and allows to prevent prosecution. In addition, the research aims to consider the specifics of the development of compliance in modern Ukrainian business as an additional guarantee against corruption. Based on the results of the identification and analysis of key compliance risks, practical recommendations were formulated for the implementation of compliance management functions in financial and credit institutions, which provide for the consistent implementation of actions to prevent and detect violations of legal and ethical norms and respond to their consequences. It is compliance management that can be generally characterized as an internal corporate system that ensures compliance of the enterprise's activities with the parameters of the institutional space within which it functions; legal norms, standards, instructions and codes of conduct, contractual obligations, moral and ethical norms, failure to comply with which may cause financial and reputational losses.