The Rewards of Risk-Based Compliance are the benefits of using a risk-based approach in designing compliance solutions. At least now banks can focus their efforts on areas that present the greatest risk to the institution. For many institutions, it was easier to simply create a policy and avoid the argument. At the beginning of the compliance cycle, this places greater emphasis on getting a properly executed risk assessment done at the onset of the cycle. At some point, this should’ve been part of the program anyway.”]
Source: https://www.cuinfosecurity.com/blogs/rewards-risk-based-compliance-p-35