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Contribution Details

Type Bachelor Thesis
Scope Discipline-based scholarship
Title Compliance frameworks: a comparative analysis of requirements and developments in the banking sector and industrial corporations
Organization Unit
Authors
  • Marina Abdullaeva
Supervisors
  • Sascha Behnk
  • Alexander Wagner
Language
  • English
Institution University of Zurich
Faculty Faculty of Business, Economics and Informatics
Number of Pages 39
Date November 2017
Abstract Text The thesis seeks to answer the question about the similarities and differences in the organisation of the compliance function between financial and industrial companies. After evaluating the outcomes of conducted interviews and literature review differences in main reasons for establishing a compliance-function, legal/regulatory requirements and significant industry-specific risks could be identified. Poor compliance culture is one of the main reasons for failure of the compliance function for both sectors. Both sectors have specific need for improvement: adequate and appropriate regulatory provisions for banks and more comprehensive legal framework together with the stronger standardization of compliance requirements for industrial corporations. Both sectors can learn a lot from each other to move towards mature and effective compliance function.
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