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Cross-cultural Approach of Global Companies\' Management

Student: Kalman David

Supervisor: Natalya I. Guseva

Faculty: Graduate School of Business

Educational Programme: Management (Bachelor)

Final Grade: 9

Year of Graduation: 2017

The present conditions of the Russian banking sector in terms of its regulatory requirements appear somewhat unsatisfying for both the banks and their clients. This paper sheds a light on the potential applicability of a recently formulated concept of the culture of compliance in terms of the positive effects it might cast on the risk management initiatives of the Russian banks. Supported by an extensive theoretical justification, an empirical study of the compliance management approaches of four major commercial banks operating in Russia has been conducted. The results of the study identify the the unawareness of some of the top-tier compliance officers of the potential value of the informal mechanisms of compliance governance and, hence, the culture of compliance itself. Nevertheless, the example of one of the investigated banks demonstrates the potential appropriateness of compliance culture cultivation and its positive effects on the risk evaluation maintained by the employees.

Full text (added May 17, 2017)

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