Staff must also have the integrity, ethical values, and competence consistent with a prudent management philosophy and operating style. We understand that hiring and retaining qualified and experienced compliance staff is a key challenge across the industry. Successful organizations are focusing not only on recruiting talent, but also on developing staff from within.
Training and other staffdevelopment tools are essential in this time of "war for compliance talent." The role of the regulators The business lines and activities of financial services firms can cross the jurisdictional boundaries of many legal entities, making it more difficult for a supervisory agency acting alone to determine what went wrong and what processes may need to be improved.