The Compliance Revolution: How Compliance Needs to Change to Survive is a business reference book that provides guidance to compliance practitioners—and those with a stake in compliance—on the application and implementation of compliance and regulation in financial services and other sectors. Published by Wiley in July 2015, the book explores several major emerging themes and provides an overview of the development and how compliance has evolved over the years.
Written by David Jackman, who has reformed financial regulation and setting standards in the UK and internationally; and taught over 2,000 compliance and anti-money laundering officers in Singapore for the ICTA (International Compliance Training Academy) Diploma, the book offers a clear path for progression and self-development to enable future compliance advances to be more proactive, timely and internationally coordinated.
Compliance adds value by enhancing customer experience, reducing errors and complaints, and reducing reputational damage and regulatory risk. Despite these factors, Jackman points out those mechanical approaches such as the tick-box exercise have proven to be ineffective after the 2008 crises. In The Compliance Revolution, Jackman explains how to go beyond merely meeting basic compliance requirements by outlining techniques to bring strategic value to the process.
The Compliance Revolution offers a practical approach on how to implement necessary change in the way businesses carry out compliance, from expensive mechanical ‘tick-boxing’ to a much more mature, intelligent and lower cost ‘judgment-based’ compliance which aims to prevent problems occurring rather than treating symptoms. The book provides maturity matrices (a new measurement tool used in forthcoming ISO 37000), a self-assessment tool, structured question banks, an overall route-map and accreditation system and case studies. These features will enable organizations bring about a necessary change to their business effectively.
Topic highlights include, ethics, culture, governance, outcomes, what businesses need to know about the role of compliance and the hidden process.
The book is applicable to any sector or jurisdiction as the lessons featured in the book are general and relevant to any circumstances. Readers will also learn how compliance can be strategic, judgment-based and valued as a profession.
The Compliance Revolution is now available at the publisher’s website (www.wiley.com), major bookstores and online retailers nationwide at the price of US$90.00.
David Jackman (England) has reformed financial regulation and standard setting in the UK and internationally. He was Head of Ethics and Education at the UK regulator, the Financial Services Authority and CEO of the Financial Services Skills Council. He has taught over 2,000 compliance and anti-money laundering officers in Singapore on the ICTA (International Compliance Training Academy) Diploma-- majority funded by MAS and accredited by Manchester Business School. David is a professor, writer, director and TV and radio commentator and has his own consultancy, The Ethical Space, specializing in helping firms to work ‘Beyond Compliance’. He also founded the Ethics Foundation and the ‘Ethics Mark’ for value-led businesses, which he recently launched in Singapore.