The Head of Compliance was informed by external auditors of a finding that indicates an...

[References: = Some of the references that support this answer are:, JPMorgan Chase & Co. Global Anti-Money Laundering Compliance Program, page 2: “The Firm’s Global Head of Financial Crimes Compliance is responsible for overseeing the implementation and effectiveness of the AML Program and reports to the Firm’s Chief Compliance Officer. … The Global Head of Financial Crimes Compliance is also responsible for ensuring that the Firm responds appropriately to any regulatory inquiries, examinations, or investigations relating to AML matters, and that any identified issues or deficiencies are promptly remediated.”, The Board’s Role in AML Compliance, Section “Board Oversight of AML Compliance Program”: “The board should also ensure that the institution has a process in place to identify, report and correct any compliance deficiencies or violations in a timely manner. This includes ensuring that the institution responds to any regulatory inquiries, examinations or enforcement actions, and implements any required corrective actions.”, AML Compliance Officer: the Role, Skills, and Responsibilities, Section “AML Compliance Officer Responsibilities”: “The AML Compliance Officer is also responsible for: … Reporting to the regulators and auditors on the AML compliance program and its effectiveness; … Developing and implementing corrective action plans for resolution of problematic issues, and providing general guidance on how to avoid or deal with similar situations in the future.”, , , ]