A compliance officer identifies a potentially significant risk in a popular financial product. Further investigation rev
Posted: Thu Jul 21, 2022 9:00 pm
A compliance officer identifies a potentially significant risk in a popular financial product. Further investigation reveals there is no mitigating control.
Which course of action should the compliance officer take?
A. Launch a long-term project to remediate the control deficiency
B. Note the risk and address it during the next round of policy and procedure review
C. Immediately cease providing the product and only offer it after effective permanent mitigation is implemented
D. Implement a temporary mitigation plan that enables effective management of the risk until a permanent plan can be developed
Which course of action should the compliance officer take?
A. Launch a long-term project to remediate the control deficiency
B. Note the risk and address it during the next round of policy and procedure review
C. Immediately cease providing the product and only offer it after effective permanent mitigation is implemented
D. Implement a temporary mitigation plan that enables effective management of the risk until a permanent plan can be developed