COMPLIANCE CONTROL IN THE BANKING SECTOR

Kholodkov Ilya Nikolaevich, Pryadkin Vladislav Aleksandrovich

The relevance of this paper is due to the fact that in 2023 Rosfinmonitoring found a number of violations in the activities of banking organisations concerning the compliance control system. The purpose of this study: to analyse compliance control in the banking sector. This goal will mediate the implementation of the following tasks: to disclose the content of the concepts of "compliance control" and "internal control"; to identify the main Russian and international legal acts regulating this area; to list the principles of compliance control of banking organisations as defined in the requirements of the Basel Committee; to analyse whether the compliance control of Sberbank PJSC meets the requirements of the Basel Committee. The material basis of the study was the work of M.M. Panarina. In addition, the following documents were analysed: "The 2013 COSO Framework & SOX Compliance"; "Basel Committee on Banking Supervision. Compliance and the compliance function in banks. April 2005". The following Russian laws and regulations were also analysed: Decree of the Central Bank of the Russian Federation dated 7 July 1999 No. 603-U (which became invalid on the basis of Decree of the Central Bank of the Russian Federation dated 16 December 2003 No. 1354-U); Regulation of the Bank of Russia dated 16 December 2003 No. 242-P "On Organisation of Internal Control in Credit Institutions and Banking Groups". As a result, it was concluded that compliance control in the banking sector of the Russian Federation is carried out in accordance with the requirements of the Basel Committee. However, there is a situation where Rosfinmonitoring continues to identify violations in the area of compliance control. In this regard, we propose the creation of an independent compliance service, which would not report to the bank's management, but to a truly independent service or organisation, such as the Central Bank of Russia.

Keywords:compliance-control, internal control, banking organisations, credit organisations, risks, services