At Large: For Citibank, How Many Compliance Officers Are Enough?

Richard Cassin notes the incongruity between Citibank’s disclosure that 15 percent of its employees are now categorized as “risk, regulatory, and compliance staff” (compared to 4.3 percent a decade ago), and its recent fine of $400 million for multiple risk management and compliance-related deficiencies. “Without a consistent enterprise-wide approach to key risk and compliance functions, […]
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