Island Compliance Risk and the Protocol of Global Finance: Governing Evil Money

ISBN-13: 9781472483355 / Angielski / Twarda / 2018 / 144 str.

Kirk Taitt

Opis

Kirk Taitt examines the threat money laundering poses to Caribbean Island nations involved in international financial services, the role of compliance regimes in averting sanctions and the future of these nations at the table of global capital. He addresses and indeed positions island nations in a strategic space outside of the global clamour, unceasing debate and severe criticism over their bona-fides/qualifications to engage in the trillion dollar industry of offshore finance, alongside certain of their G20 counterparts. He conveys the notion that a high ground (ethical) approach is required to counteract potential reputational harm. Throughout the book, Taitt weaves a GRC (governance, risk and compliance) thread in order to speak directly to practitioners and to demonstrate how a strong GRC paradigm at the jurisdictional and institutional level could be leveraged to competitive advantage. Among his recommendations, he determines the following as key in the fight against money laundering risk: cents Effective regulatory governance of the jurisdiction s financial system by, at a minimum, ensuring conformance with international standards; and ensuring sufficient resources are deployed to adequately supervise financial institutions; cents The promotion of values based decision-making amongst corporate financial managers and leaders; cents Engagement/education of the wider civil society to ensure present and future generations of the Caribbean IFC workforce, appreciate the value of personal moral excellences (ethics) in business and understand its link to sustainable development of the IFC s

O autorze

Kirk Harrison Taitt is a senior GRC practitioner who currently serves as the Head of Compliance in a small financial services firm in Barbados. A founding member and past President of the Barbados Association of Compliance Professionals, Kirk is the architect of several training courses in regulatory compliance for the credit union industry. In addition to professional accreditations with the International Federation of Compliance Associations and the Australian GRC Institute, Kirk holds a BSc. in Management and a Master of Philosophy degree in Governance and Public Policy, both from the University of the West Indies. He is married to Juliana and together they are the parents of three "MusTaitteers."