Compliance officers should look beyond third parties

Many of the compliance programmes put in place are lacking substance, and compliance officers will increasingly need to mitigate counterparty risks far removed from the ones their firms deal with daily, said financial risk experts at a recent industry event held under Chatham House rules.

"A lot of the time, risk-management programmes are set up, but they are not efficient. They are either looking at very specific things or throwing the kitchen sink at every third party... Cyber-security attacks