Mongolia Emerges as Compliance Risk Management Hub
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Ulaanbaatar, Mongolia - A recent trip to Mongolia has left many wondering if the country’s banking sector and industries are leading a compliance revolution. Adam Turteltaub, a renowned expert in corporate compliance, recently spoke at a compliance conference in Ulaanbaatar, the capital of Mongolia.
A Strategic Location for Global Expansion
Mongolia’s strategic location between China and Russia makes it an attractive destination for businesses looking to expand their global reach. With only about three million people spread over 600,000 square miles, the country is hungry for international investment and trade. To achieve this, many local businesses have recognized the importance of compliance risk management.
Compliance Risk Management Takes Center Stage
Turteltaub’s talk at The Business Council of Mongolia was well-received by industry professionals eager to learn more about compliance programs. “It was exhilarating to see that our humble profession now spans the globe,” said Turteltaub. “While we may feel few in numbers, we are numerous enough to be found where you don’t expect us.”
The Growing Need for Compliance Professionals
The Society of Corporate Compliance and Ethics (SCCE) is valued globally, with two graduates of its Basic Compliance and Ethics Academies in attendance at the conference. Both held the Certified Compliance and Ethics Professional-International (CCEP-I) designation.
Turteltaub believes that there is a growing need for compliance professionals worldwide. “There is a role for compliance people everywhere,” he said. “And with our upcoming Academy in Hong Kong, we expect to see more certification and a greater demand for what the SCCE does.”
Global Expansion Plans
In 2019, the SCCE will expand its global reach further by hosting regional meetings in:
- Buenos Aires, Argentina
- Santiago, Chile
- Bangkok, Thailand
Plans are already underway to expand even more in 2020.
A New Frontier for Compliance Professionals
As Mongolia’s compliance landscape continues to evolve, it is clear that this country is no longer a distant or exotic destination for compliance professionals. With local businesses embracing the importance of risk management, a picture of a compliance conference in Mongolia may soon be as commonplace as one taken in Manhattan, Madrid, or Minneapolis.