| Dear Member
Following the implementation of the revised Consumer Protection Code and an increased focus on consumer outcomes, oversight and accountability by the Central Bank, it is important that firms can demonstrate that they have regulatory procedures and controls in place.
To assist members in meeting these obligations, Brokers Ireland has developed a Compliance Risk Framework template to help member firms identify, assess and monitor regulatory and operational risks within their businesses.
The template which is available in both editable PDF and word includes a range of common regulatory, conduct and operational risks that members may wish to consider as part of their compliance and risk management framework. It also contains links to relevant guidance and resources available through the Brokers Ireland website.
Members are encouraged to personalise the template by:
- Adding firm-specific risks and controls.
- Removing risks that are not relevant to their business model.
- Allocating responsibility for risk ownership and monitoring.
- Updating risk ratings and action plans to reflect their own circumstances.
Please note that the template is intended as guidance only and should be adapted to meet the specific needs and requirements of your firm. We hope you find this resource useful and we welcome any feedback members may have.
If you have any questions regarding the use of the template, please contact the Compliance Unit at compliance@brokersireland.ie or on 01 661 3067. |
