Part 14 - 2023 ICDC HS Flashcards
5 areas of compliance department
Identification, prevention, monitoring & detection, resolution, advisory
Financial advisor
1) Executes tradings in the market; 2) Constructs personalized financial plans; 3) Offers advice on…
Business process management
Customer-centric business constantly striving to align its objectives with customer’s needs by tech.
Continuous improvement
Evalutaing a business’s processes then improve effectiveness
Organizational structure
Management of ppl.
Customer experience management
Use strategies, processes, and policies to exceed customer’s need at every possible touchpoint
Seller’s market
High demand, low supply, therefore rising prices
Buyer’s market (OPP)
Low demand, high supply, therefore low prices
New customers
Attracted to a business by changing what it currently has
BATNA
Best Alternative To a Negotiated Agreement
Divulge
To leak
Spot market
Trade of financial instruments for immediate delivery
Futures market
Delivery of an asset and funds at a future date
Primary market
Securities are created
Secondary market
Securities are traded
Home bias
When investors grow bias causing them to be unwilling to trade in foreign markets
Avoidable costs
Costs that can be eliminated by no longer participating in certain activities
Mixed costs
Fixed costs until the business reaches a certain degree of productivity
Appraisal costs
Inspecting and catching defective products
Financial accounting
Prepare and report data to external users (not involved in business operations)
Forensic accounting
Used to investigate financial crimes
Operating budget
Forecasts revenue and expenses of a business, usually a year
Piracy
Activities of pirates
McKinsey 7-S model
Strategy, structure, systems, shared values, skills, style, and staff
Keypad
Electronic device requring authorization to be activitated/unlocked
