Compliance and Operational Risk
The Bank’s Compliance Department is responsible for ensuring that Gatehouse complies with all its legal and regulatory obligations in both the UK and wherever it conducts business globally.
The Gatehouse compliance model enforces both the FSA rules within its UK operations and uses these standards globally, where applicable.
Operational risk is the risk of direct or indirect losses resulting from inadequate or failed internal processes or systems, human factors, or from external events. Major sources of operational risk include: operational process reliability, IT security, outsourcing of operations, dependence on key suppliers, implementation of strategic change, integration of acquisitions, fraud, error, customer service quality, regulatory compliance, recruitment, training retention of staff and social and environmental impacts.