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11 Cards in this Set
- Front
- Back
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What is the risk-based approach trying to balance? |
The significance of risks and the availability of resources to mitigate risk. |
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Which best describes a risk-based approach? |
Assessing risk and allocating resources accordingly. |
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What contributes to a firm’s internal risk? |
Quality of management and staff. |
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What type of external risk typically arises from criminal and quasi-criminal conduct? |
Regulatory. |
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For the purposes of IIROC’s Risk Trend Report (RTR), what factors contribute to a firm’s risk ranking relative to its peers? |
The firm’s engagement in discount brokerage, institutional trading, and corporate finance transactions. |
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IIROC’s Surveillance & Compliance Division creates a Risk Trend Report (RTR) for every dealer member. When compiling this report, what conditions are evaluated? |
The financial condition and business condition of the firm. |
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The Risk Trend Report (RTR) is developed using information that is available to which groups? |
Financial & Operations Compliance (FinOps), Business Conduct Compliance (BCC) and the Complaints and Settlements Reporting System (ComSet). |
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What does the role of the CCO try to balance? |
Compliance and business. |
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What perception of compliance should a CCO attempt to create? |
Positive. |
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What is the objective of risk management? |
To optimize the level of risk taken in relation to business objectives. |
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Firms that rely heavily on manual processes are susceptible to what type of risk? |
Operating Procedures risk. |
