Conceptual framework for women in compliance: Bridging gender gaps and driving innovation in financial risk management
1 Independent Researcher, Warri, Delta State, Nigeria.
2 Independent Researcher, Abuja.
3 University of Potomac, Virginia Campus, USA.
4 Wells Fargo, Charlotte, North Carolina.
Review Article
Magna Scientia Advanced Research and Reviews, 2024, 12(02), 251–260
Article DOI: 10.30574/msarr.2024.12.2.0205
Publication history:
Received on 01 November 2024; revised on 10 December 2024; accepted on 12 December 2024
Abstract:
This paper explores the critical role of gender diversity in compliance and financial risk management, emphasizing the importance of women’s inclusion in shaping innovative and effective strategies. Despite persistent gender gaps in the financial sector, the participation of women has been shown to enhance decision-making, improve risk assessments, and drive organizational innovation. A conceptual framework is proposed, focusing on three key elements: professional development, institutional support, and cultural shifts. This framework provides actionable strategies to empower women in compliance roles, such as leadership training, mentorship programs, and inclusive workplace policies. Additionally, the paper highlights the transformative impact of gender-inclusive practices on compliance strategies, emphasizing how diverse teams are better equipped to identify and manage emerging risks. Concluding with recommendations for regulators, organizations, and educational institutions, this study underscores the urgent need to address gender disparities to foster ethical governance and sustainable growth in the financial sector.
Keywords:
Gender diversity; Compliance; Financial risk management; Innovation; Professional development; Inclusive practices
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Copyright © 2024 Author(s) retain the copyright of this article. This article is published under the terms of the Creative Commons Attribution Liscense 4.0