Isle of Man News - POSTED Wed 13-12-2017

Standard Bank rewarded for exemplary service to compliance

by LC

Standard Bank rewarded for exemplary service to compliance Standard Bank Wealth International has won at one of industry’s leading compliance awards ceremonies. The bank, based in Jersey and the Isle of Man, was awarded for providing the ‘Best Arrangements in Governance, Risk and Compliance’ at the recent Compliance Register Platinum Awards, which were held in London.
 
The award winners were chosen by members of the Academy for Compliance Excellence, a body of leading professionals in the compliance sector.
 
Séan Flanagan, Head of Compliance at Standard Bank Wealth International, said: “The bank’s performance across Wealth International is built on the foundations of excellence in compliance so it is heartening to receive confirmation that we are doing a good job at all levels. The ceremony was a great celebration that showcased a side of banking that rarely receives recognition outside of the industry and to win an award was a fantastic achievement.”
 
Will Thorp, Chief Executive Officer of Standard Bank Wealth International, added: “This has been another excellent year for the compliance team and this award is thoroughly deserved. It is confirmation of the strength of our proposition and ability to deliver on a commitment to be the leading Africa-focused offshore wealth manager.”
 
Ben Goh, Chairman of the Compliance Register, said: “Standard Bank has won many times in previous years and it is pleasing to see them winning again this year. It demonstrates the bank’s continuing commitment to high standards of compliance. Good governance, compliance and risk are absolutely critical in ensuring and meeting regulatory challenges globally.”
 
The Compliance Register promotes excellence in regulatory compliance and regulation globally with members based in most of the world’s leading financial centres as well as across the British Isles. The awards were established in 2004 and are designed to strengthen best practice in the financial services sector, reward excellence and help to reduce the likelihood of future financial crises. The 14th annual awards ceremony was held on 30 November at the Lancaster Hotel. As well as recognising excellence, the event raised funds for a number of charities, including Bloodwise, Parkinson's UK and Breast Cancer Care.

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