Ethics based business and strategy leadership combined with project management and gap fill expertise in GRC, legal and operational fields
I really hope this doesn’t get lost in all commentary after the report on the FCA. This a great piece of work and would recommend reading it alongside the Jersey Financial Services Commission work. Can also give business leaders my top tips on how to get Risk and Compliance teams to be your biggest allies in promoting this business area internally and successfully launching initiatives into the market. 1) Be able to demonstrate you have actual knowledge on digital assets, having provided training and preferably can bring in experienced team members 2) Engage with your regulator. They are just as keen to develop this area and have so many ways to support 3) Create a proper Risk Appetite Statement and work out what you want your exposure to be. Remember not to run before you can walk 4) Develop a good risk assessment tool so you know how being involved with particular clients and deals will impact your risk exposure 5) Accept changes will be needed to policy and procedure developed. These must be in place before you start work, you can’t experiment first and catch up later 6) More training and testing that people do have the knowledge needed Have all those and journey will be much simpler, more profitable and safer. Risk and Compliance can design the support you need around this and be your reliable and trusted advisor. It may seem fairly obvious but some of the most challenging areas I have seen are when the basics get missed in the desire to get a new offering to market quickly. Investing time and effort now will give a very large return.
We've set out our roadmap for regulating crypto and we'll need your help to ensure we get future rules right. #crypto #CryptoRegulation #CryptoNews #CryptoFuture
