In honor of National Compliance Officer's Day, we wanted to share the many reasons why we love compliance officers. Read on for our top ten!
1. First and foremost, you make sure our financial services institutions are safe
The work of a Compliance Officer truly upholds the stability of the markets. Your vigilance and dedication make sure that financial services institutions operate ethically and within the boundaries of the law, protecting both your firm and its clients.
2. You speak fluent acronym
From AML to KYC and MiFID to FINRA, you can break down compliance terms, concepts and legislation to simplify the complicated, ensuring everyone in your firm understands what they need to know.
3. You keep on top of ALL of the details
There are a million details to balance as a Compliance Officer, and you ensure that nothing falls through the cracks. Whether it's a minor procedural update or a major regulatory change, you have it covered.
4. You can spot risk from a mile away
You can spot potential threats before they happen, developing strategies that balance risk and reward to save the day—and then prove what you did to the regulators. Your foresight and proactive responses keep your firm compliant and one step ahead of risk.
5. You manage the day-to-day AND the big-picture strategy
You can double check that everyone across the firm has completed their annual attestations and then hop on a call to provide input to the CEO on the latest books and records violations and what that might mean for your firm. You can do it all!
6. You stay up-to-date with regulations that are changing at a fast and furious pace
You keep up with the constant flow of regulatory change and enforcement actions that are going on in the financial services industry these days. Your dedication, expertise and ability to react quickly help your firm remain compliant no matter how fast the landscape shifts.
7. You're good communicators and educators
You have a knack for breaking down complex compliance issues into understandable terms and processes so you can empower the team with the knowledge they need to understand firm policy and procedures and stay compliant.
8. You're first-rate planners
Sure, you can handle whatever crisis is thrown your way, but your ability to think ahead and plan prevents those crises from happening in the first place!
9. You protect the reputation of the firm—and save money to boot!
By ensuring adherence to the many regulations your firm must comply with, you safeguard your company's reputation and avoid costly fines. Your work not only protects the brand but also contributes to your firm's financial health.
Efficiency is your thing! You make sure that compliance is not a time-sink for employees by designing processes and implementing technology that makes responsibilities both easy to understand and carry out.
10. You're leaders in your company and the industry
There's a reason why Compliance Officers deserve a seat at the leadership table. You bring insight and expertise that add a critical perspective to the strategic decisions of your firm. The work that you do helps foster a culture of compliance across your company and the industry at large.
Compliance Officers, we are thankful for you today and every day!
Your ability to understand regulations, manage risks, effectively communicate, educate your peers and handle whatever comes your way keeps the companies you work for ethical, compliant and successful. And most importantly, the work you do keeps our financial markets safe and secure.
We're proud to work alongside you and help you in your mission.
Want to learn how we help Compliance Officers from around the globe and across all sizes of firms achieve better compliance? Let us know and we’ll set up some time to chat.
