Investor Presentation - FY 2023
Investor Presentation - FY 2023
Completion of our Financial Crime Transformation Programme
Danske Bank
Establishing a robust compliance function
In the recent years, the Bank has made significant investments to
ensure that a robust, well-resourced and expert compliance function is
in place across our operations to effectively combat financial crime.
The Bank has made significant changes to ensure that it has the right
people, structures and controls in place to continue to achieve and
maintain a culture of integrity in everything it does, deliver on the
financial crime transformation and manage compliance issues that
arise in the future.
In designing the Group Financial Crime Plan, Danske Bank has, to the
extent possible, sought to execute the programme in a risk-prioritised
way. Wherever possible, the Bank has been adopting an approach of
trying to mitigate the most material residual risks first.
The completion of the Group Financial Crime Plan was one of the bank-
wide objectives set by the ELT for 2023.
Completion of the Group Financial Crime Plan
The purpose of the Financial Crime Plan has been to design and
implement a financial crime control framework that (i) meets the
regulatory requirements applicable to the Group; and (ii) is reasonably
designed to manage the Group's inherent financial crime risk in line
with the Group's risk tolerance - by harnessing global best practice as
appropriate.
The Bank has now completed its Financial Crime Plan and sees this as
a significant achievement. We will continue testing our controls, to
ensure that what we have implemented is fully embedded and
operating effectively. Should the outcome of the testing require further
improvements, those will be addressed as part of normal procedure.
The Bank also intends to enhance its controls to make them more
customer-centric whilst maintaining risk management effectiveness
as well as introducing greater automation which will reduce
operational risk and increase cost effectiveness.
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