글로벌 환경에 따른 금융사고 예방을 위한 준법감시기능 실효성 결정요인에 관한 연구

A Study on Determinants of the Effective Compliance Function to Prevent the Financial Accidents in Global Environment

Due to the complexity of the financial environment, we can face many financial accidents from global foreign financial institutions as well as domestic firms. To prevent the financial accidents, it is necessary to operates efficiently with the Internal Control System and the Compliance System which are already in place with financial firms.10 years have passed since Korean regulator introduced the Compliance System. This system has improved so far and implement to each financial firms based on the company’s characteristics. However, still there are many fields that need to be developed as the Compliance System can’t be improved only by the Compliance Officer’s role but also with the help of the management, the regulatory authorities or self‐regulatory bodies and the members of the staff. Therefore, I studied to find out the determinant of the effectiveness of compliance function and how each determinant affects each other and so how we can establish the compliance system effectively at the end. For the Compliance system to be effectively operates, it needs to understand the determinants that affect the compliance functions. I have grouped as 2 compositions such as external characteristics and the result. External factors are consists of 3 factors such as ①the will or the tendency of the management to the compliance culture, ②cooperative, assistant and sanction level of the regulatory authorities and self‐regulatory organization and ③cooperation and complying by the rules and regulation by the member of the staff. The result will be the effectiveness of the Compliance function. 1. “The will or the tendency of the management to the compliance culture” is statistically significant to “the effectiveness of the Compliance function”. 2. “Cooperative, assistant and sanction level of the regulatory authorities and self‐regulatory organization” is statistically significant to “the effectiveness of the Compliance function”. 3. “Cooperating and abiding by the rules and regulation by the member of the staff” is statistically significant to “the effectiveness of the Compliance function”. Therefore, to prevent the financial accidents, it needs to have the assistant and help from the management,regulatory authorities, self‐regulatory organizations and the member of the staff for the firm to effectively operate the compliance function. Additionaly, the Compliance staff should enhance their ability in order to play the compliance role in financial firm as they should be the coach or doctor of the non‐compliance issues.