One key aspect of promoting an enterprise-wide compliance culture within a financial institution (FI) is that the:

Question

Options

• Afirst line of defense should establish its own policies independently.
• Brevenue generating business sectors should have precedence over compliance.
• Crelevant information should be shared throughout the organization.
• Dcost of compliance should increase proportionately to revenues.

• A
  4% (2)
• B
  9% (4)
• C
  72% (33)
• D
  15% (7)

Explanation

An enterprise-wide compliance culture is a centralized, coordinated approach to ethics and compliance program design and assessment that cuts across multiple business units within an organization. One key aspect of promoting such a culture is that the relevant information should be shared throughout the organization, so that all employees are aware of the compliance risks, policies, procedures, and expectations, and can act accordingly. Sharing information also facilitates collaboration, communication, and feedback among different functions and levels of the organization, and helps identify and address any gaps or issues in the compliance program. By contrast, the other options are not conducive to an enterprise-wide compliance culture, as they either create silos, conflicts, or inefficiencies in the compliance function.

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