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Structure of the Compliance and Risk Function in a Corporation
We will walk through typical corporate org charts for managing risk and compliance in a corporation. Typically, governance starts at the top with the Board and the Board's Audit and Compliance Committee. These usually include members external to the corporation. Then, internal to the corporation, there is a Compliance Committee and leaders and teams for compliance, audit, and other risk functions. The names of the committees differ as well as the reporting relationships. The size and nature of the corporation also merit different org structures for risk and compliance coverage.
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