7 Nightmares for a Compliance Professional



For Compliance Officers, nightmares aren't just on Elm Street. Every day can be a scary one! Check out our 7 nightmares for Compliance Professionals and the resources we've compiled to help.

Happy Halloween from MyComplianceOffice (MCO).

1) You've created anti-corruption policies but are struggling with adoption and enforcement, putting your organization at risk. 

Policy distribution and training is not enough.Check out our free resources on anti-bribery and anti-corruption, including the whitepaper, "How to Build a Strong Gift, Entertainment & Hospitality Program" and an on-demand Webinar hosted by Michael Volkov of Volkov Law Group, "Advanced Strategies for Mitigating Bribery and Corruption Risks: Automating GMETH." When you're ready, MCO offers the most comprehensive Anti-Bribery and Corruption solution available today. Contact us.

2) A rogue employee is inside your organization. 

Never mind the call coming from inside the house. A rouge employee inside your organization is a compliance officer's nightmare. You can alleviate this fear with MCO’s solution for managing employee conduct risk. A strong compliance program is like having an insurance policy – when conflicts occurs, Compliance Officers can demonstrate that they did everything they could to prevent it.  

3) It's a dark and stormy night and you get a surprise visitor, the SEC!

The right automation and processes can you help prepare for a SEC exam and make the process go smoothly. If this one keeps you up at night, view the on-demand Webinar, Best Practices to Master a SEC Exam. The presenters from NorthPoint Compliance are ex-SEC Examiners who review the National Exam Program 2018 Priorities, provide tips for registered investment advisers and give pointers on how to conduct reviews that will help prepare the entire organization for a SEC visit. 

4) You provide your compliance manual to an examiner and it is completely blank!

This one is unlikely. More likely, your compliance manual may be out of date and not reflect the firm’s practices. The SEC had said this is one of the common reasons a firm may receive a deficiency letter after an exam. To learn more about the top SEC and FINRA enforcement issues and what’s on the horizon, view the on-demand Webinar co-hosted by attorneys from Eversheds Sutherland, SEC & FINRA Mid-Year Enforcement Update. 

5) You start implementation on a new compliance technology solution and realize too late that it won't be able to handle the needs of your business. 

In the coming days, we'll be posting insights from the NSCP panel "How to Purchase and Implement Technology. " The live session will be Tuesday, Oct 30 and address understanding the limitations and risks of technology to find the right solution for your business needs, third party due diligence, tips on implementation and more. Don't miss this upcoming article, subscribe to the the blog. 

6) You can't tell a cryptocurreny from a ICO. The rules keep changing, and employees are committing insider trading.  

To get an understanding of the basics and insight into where regulation is headed, watch the Webinar with presenter Elin Cherry on-demand, "Cryptocurrency & ICO Compliance: How to Detect and Manage Conflicts of Interest.

7) Your facing intense regulatory pressure, limited compliance budget and fear misconduct risk.

Contact MCO, you can end this nightmare and rest easy. Our powerful platform lets compliance professionals demonstrate they are proactively managing the regulated activities of employees, third-party vendors and other agents of the firm. Available as a unified suite or à la carte, our easy-to-use and extensible SaaS-based solutions get clients up and running quickly and cost-efficiently. We’ve built our passion and proficiency for compliance automation into every product, empowering clients of all sizes to maximize technology to minimize conduct risk.

Interested in winning an Apple watch? 

Share your compliance nightmares for a chance to win. Submit your answer in the form on the right. We'll contact the winner on Nov 1.