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You are the newly appointed Compliance Officer for MU plc, an insurer.
Prior to your appointment, the regulator for the market in which MU plc operates expressed concerns about
the effectiveness of the oversight of MU plc’s Board. These concerns include the relationships between the governance processes, documentation and approach to risk management.
Following the regulator’s concerns, the Board sought the advice of an external compliance consultancy.
The consultancy’s advice highlighted deficiencies in MU plc’s code of ethics and compliance culture.
The Board has instructed you to report on the strategic risk challenges arising from the regulator’s concerns and the consultancy’s highlighted deficiencies.
• Explain briefly, three significant strategic risk challenges for MU plc.
• Analyse the potential implications for MU plc of each of these three strategic risk challenges.
• Recommend, based on your analysis, how MU plc should address these strategic risk challenges.
Could we aim for roughly 3520 words. That would be perfect.