Financial Regulatory Compliance Survey

The St. Louis Regional Chamber, in collaboration with Dr. Nitish Singh at Boeing Institute-Saint Louis University, is reaching out to compliance professionals to better understand the risks, challenges and trends in financial regulatory compliance.

The results of this survey will be compiled in a report to inform college curriculum development and be shared with industry leaders.

*1.Please indicate your industry sector (required).(Required.)

Asset management

Securities brokerage / financial advisory services

Banking

Credit services

Insurance

Mortgage

Other financial services

Other (please specify)

2.What is your job function?

Compliance

Audit

Anti-money laundering (AML) and Bank Secrecy Act (BSA)

Legal/Counsel

Risk management

Other (please specify)

3.Please list years of experience in regulatory compliance.

Less than 1 year

1 to 5 years

6 to 10 years

11 to 20 years

More than 20 years

4.Please rate the following financial regulatory compliance training topics on a scale of 1 to 5 (1 being the lowest in training importance and 5 being highest in training importance).

Very low importance (1)

Low importance

Medium importance

High importance

Very high importance (5)

Securities law

Very low importance (1)

Low importance

Medium importance

High importance

Very high importance (5)

Anti-money laundering

Very low importance (1)

Low importance

Medium importance

High importance

Very high importance (5)

Privacy and data protection

Very low importance (1)

Low importance

Medium importance

High importance

Very high importance (5)

Cybersecurity

Very low importance (1)

Low importance

Medium importance

High importance

Very high importance (5)

Dodd-Frank Act

Very low importance (1)

Low importance

Medium importance

High importance

Very high importance (5)

Foreign Corrupt Practices Act

Very low importance (1)

Low importance

Medium importance

High importance

Very high importance (5)

Defending Securities Exchange Commission (SEC) exams

Very low importance (1)

Low importance

Medium importance

High importance

Very high importance (5)

Defending Financial Industry Regulatory Authority (FINRA) exams

Very low importance (1)

Low importance

Medium importance

High importance

Very high importance (5)

Defending National Futures Association (NFA) exams

Very low importance (1)

Low importance

Medium importance

High importance

Very high importance (5)

Conducting internal investigations

Very low importance (1)

Low importance

Medium importance

High importance

Very high importance (5)

5.Please rate the following general ethics and compliance training topics on a scale of 1 to 5 (1 being the lowest in training importance and 5 being highest in training importance).

Very low importance (1)

Low importance

Medium importance

High importance

Very high importance (5)

Social media use

Very low importance (1)

Low importance

Medium importance

High importance

Very high importance (5)

Anti-retaliation

Very low importance (1)

Low importance

Medium importance

High importance

Very high importance (5)

Cybersecurity awareness

Very low importance (1)

Low importance

Medium importance

High importance

Very high importance (5)

Ethical decision making

Very low importance (1)

Low importance

Medium importance

High importance

Very high importance (5)

Bribery and corruption

Very low importance (1)

Low importance

Medium importance

High importance

Very high importance (5)

Conflict of interest

Very low importance (1)

Low importance

Medium importance

High importance

Very high importance (5)

Harassment

Very low importance (1)

Low importance

Medium importance

High importance

Very high importance (5)

Code of conduct

Very low importance (1)

Low importance

Medium importance

High importance

Very high importance (5)

Hot-line usage

Very low importance (1)

Low importance

Medium importance

High importance

Very high importance (5)

6.Please rate the following regulatory compliance risks on a scale of 1 to 5 (1 being the highest in risk and 5 being the lowest in risk).

Very high risk (1)

High risk

Medium risk

Low risk

Very low risk (5)

Bribery and corruption

Very high risk (1)

High risk

Medium risk

Low risk

Very low risk (5)

Whistle blower and retaliation

Very high risk (1)

High risk

Medium risk

Low risk

Very low risk (5)

Cybersecurity and privacy

Very high risk (1)

High risk

Medium risk

Low risk

Very low risk (5)

Third-party related risks

Very high risk (1)

High risk

Medium risk

Low risk

Very low risk (5)

Money laundering

Very high risk (1)

High risk

Medium risk

Low risk

Very low risk (5)

Consumer protection

Very high risk (1)

High risk

Medium risk

Low risk

Very low risk (5)

Conflict of interest

Very high risk (1)

High risk

Medium risk

Low risk

Very low risk (5)

Governance and reporting

Very high risk (1)

High risk

Medium risk

Low risk

Very low risk (5)

Confidentiality

Very high risk (1)

High risk

Medium risk

Low risk

Very low risk (5)

Fraud and misconduct

Very high risk (1)

High risk

Medium risk

Low risk

Very low risk (5)

Records management

Very high risk (1)

High risk

Medium risk

Low risk

Very low risk (5)

Social media compliance

Very high risk (1)

High risk

Medium risk

Low risk

Very low risk (5)

Antitrust

Very high risk (1)

High risk

Medium risk

Low risk

Very low risk (5)

Insider trading

Very high risk (1)

High risk

Medium risk

Low risk

Very low risk (5)

7.Please rate the following regulatory compliance costs on a scale of 1 to 5 (1 being highest in cost and 5 being lowest in cost).

Very high cost (1)

High cost

Medium cost

Low cost

Very low cost (5)

Documentation

Very high cost (1)

High cost

Medium cost

Low cost

Very low cost (5)

Reporting requirements

Very high cost (1)

High cost

Medium cost

Low cost

Very low cost (5)

Monitoring of transactions (anti-money laundering)

Very high cost (1)

High cost

Medium cost

Low cost

Very low cost (5)

Talent acquisition and retention

Very high cost (1)

High cost

Medium cost

Low cost

Very low cost (5)

Training

Very high cost (1)

High cost

Medium cost

Low cost

Very low cost (5)

Inspections and exams

Very high cost (1)

High cost

Medium cost

Low cost

Very low cost (5)

Accounting and auditing

Very high cost (1)

High cost

Medium cost

Low cost

Very low cost (5)

Litigation

Very high cost (1)

High cost

Medium cost

Low cost

Very low cost (5)

Consultants and third party service providers

Very high cost (1)

High cost

Medium cost

Low cost

Very low cost (5)

Data processing and automation

Very high cost (1)

High cost

Medium cost

Low cost

Very low cost (5)

8.Please rate on a scale of 1 to 5 the frequency of use of the following key metrics or indicators to evaluate the effectiveness of financial regulatory compliance (1 being never use and 5 being always use).

Never use (1)

Rarely use

Sometimes use

Often use

Always use (5)

Feedback from ethics surveys

Never use (1)

Rarely use

Sometimes use

Often use

Always use (5)

Hotline call/compliant volume

Never use (1)

Rarely use

Sometimes use

Often use

Always use (5)

Penalties/fines

Never use (1)

Rarely use

Sometimes use

Often use

Always use (5)

Reported compliance policy violations

Never use (1)

Rarely use

Sometimes use

Often use

Always use (5)

Training outcomes

Never use (1)

Rarely use

Sometimes use

Often use

Always use (5)

Compliance audit outcomes

Never use (1)

Rarely use

Sometimes use

Often use

Always use (5)

Conflict of interest disclosures

Never use (1)

Rarely use

Sometimes use

Often use

Always use (5)

Audit review and analysis

Never use (1)

Rarely use

Sometimes use

Often use

Always use (5)

Benchmarking data

Never use (1)

Rarely use

Sometimes use

Often use

Always use (5)

Risk analysis results

Never use (1)

Rarely use

Sometimes use

Often use

Always use (5)

9.Please rate on a scale of 1 to 5 the level of ease or difficulty experienced when working with regulators and examiners (1 being very difficult and 5 being very easy)

Very difficult (1)

Difficult

Modestly difficult

Easy

Very easy (5)

Regulators

Very difficult (1)

Difficult

Modestly difficult

Easy

Very easy (5)

Examiners

Very difficult (1)

Difficult

Modestly difficult

Easy

Very easy (5)

If you would like to receive an analysis of the survey results, please provide your name and contact information. Please note the summary will not identify any individuals. The contact information is solely collected to distribute the summary report.

10.Name

11.Company

12.Job Title

13.E-mail Address

14.Mailing Address