The text explores the multifaceted role of a compliance officer in the Liechtenstein financial market. Drawing parallels to Forrest Gump's life analogy, the compliance officer's routine is marked by unpredictability, earning them the reputation of either a business killer or an everyday hero. Their primary responsibility is ensuring that their company adheres to legal and regulatory requirements. The compliance officer is a vigilant source of information, staying abreast of law amendments, geopolitical developments, and fraud schemes. They act as a second line of defense, rigorously assessing business profiles and monitoring risks associated with client relationships. Additionally, compliance officers play roles as counselors/psychologists, subject matter experts, protectors, and liaisons with the Financial Intelligence Unit (FIU). The text emphasizes their liability for actions or inactions, citing examples of legal repercussions for non-compliance. Despite the challenges, the conclusion depicts compliance officers as everyday heroes contributing to the integrity of the financial industry in Liechtenstein.
| Identifer | oai:union.ndltd.org:DRESDEN/oai:qucosa:de:qucosa:88326 |
| Date | 28 November 2023 |
| Creators | Graber, Nicolas |
| Source Sets | Hochschulschriftenserver (HSSS) der SLUB Dresden |
| Language | English |
| Detected Language | English |
| Type | info:eu-repo/semantics/publishedVersion, doc-type:article, info:eu-repo/semantics/article, doc-type:Text |
| Rights | info:eu-repo/semantics/openAccess |
| Relation | urn:nbn:de:bsz:15-qucosa2-881960, qucosa:88196 |
Page generated in 0.0019 seconds