Hartmut Renz Speaks on GARP Panel on Compliance Functions as Risk Functions
Hartmut T. Renz, Counsel in the Frankfurt office of Kaye Scholer, spoke on a panel which was hosted by the Global Association of Risk Professionals (GARP) and Thomson Reuters on compliance functions as risk management functions. GARP is a non-profit organization and is the only globally recognized membership association for risk managers. GARP’s goal is to create a culture of risk awareness within organizations, from entry level to board level. In the areas of financial and energy risk management, GARP set the global standard in professional designation. In his talk Hartmut emphasized the role that compliance plays in the global risk management of a bank. He stressed further how important it is for an organization to develop a positive risk management culture in order to both avoid compliance problems and adequately manage any such problems that do arise.