Driving ComplianceWith regulatory enforcement on the rise, businesses across many sectors are employing new tools and methods to build successful compliance programs. According to our new report, “Data & Behavioral Science: A New Approach to Risk Management,” companies are increasingly taking a data-driven approach to compliance, supported by behavioral sciences strategies, to go beyond a reliance on policies, procedures and other traditional compliance methods. The study is the result of an in-depth global survey of 300 senior executives that set out to examine how companies are using data and behavioral sciences to drive ethical decision-making.
Global Risk Management Report
Key FindingsOur research identifies several trends:
- 61% said clear guidance regarding laws and regulations is one of their top considerations when helping employees understand compliance
- 57% cited culture of a country or region as a major obstacle to the implementation an effective compliance framework.
- 66% said requests from government officials are the biggest challenge in asset management
- 83% use informal background checks conducted internally to carry out third-party diligence
Contact UsRopes & Gray provides a comprehensive suite of risk assessment and advisory services. By focusing on the entire enterprise, we enable organizations to identify, monitor, and mitigate or eliminate risks at all levels. To manage risks across your enterprise, Ropes & Gray interviews key stakeholders throughout your global operations, produces a comprehensive report on your risks in various areas, and assists with their implementation, monitoring and reporting.
Email RiskManagement@ropesgray.com to discuss your risks and how we can help.*