Risk and Compliance is charged with developing and overseeing the risk management framework that enables us to proactively identify, assess and monitor the impact of uncertainty on our business objectives. This framework creates a seamless integration of risk and return in business decision making. Functions include risk and economic capital, credit and counterparty risk oversight and policy, operational risk oversight, and market risk oversight and policy.
The Office of Ethics and Compliance is responsible for supporting the PHH Corporation Board and executive management in carrying out their responsibilities under the Corporate Ethics & Compliance Program (CECP). It guides and directs the establishment, implementation, monitoring and testing of an integrated framework of compliance policies, procedures, processes and controls across the Corporation's business operations. The Office promotes a culture in which ethical conduct and compliance are integral parts of the Corporation's business environment and standards of behavior.
In addition, the Office helps business units assess changes in regulations and business operations; promotes an effective working relationship with regulatory agencies; and is responsible for training and educational programs that facilitate a better understanding of the legal and regulatory obligations of the Corporation, its employees and suppliers.