Compliance officers effecting change by fixing problems and preventing fraud

The field of compliance officers is new in the business field, and it is growing fast. The role of a compliance officer is to execute a compliance program to discover, solve, and prevent ethical and regulatory problems using familiar tools like risk assessment, audits, education, and investigation. When a compliance officer comes across a problem, they deal with it and come up with new ways to prevent the problem from ever happening again. They ensure that discipline is instilled to the offenders if necessary.
Compliance is a fast-growing and career path with a perfect opportunity for advancement especially in the heavily regulated industries like banking, gaming, and insurance. The compliance director at Island view Casino Resort confessed that the daily compliance is quite intensive. She has to ensure that the gaming plays by the rules of the state as well as those of the company.
According to Snell, most people often misunderstand the role of a compliance officer. The role of a compliance officer is not making rules; this is just but a myth. Every company has its rules, and the work of the officer is to ensure the rules are followed to the latter. They prevent the employees from making mistakes that could lead to disciplinary actions by the enforcement community.
Corporate compliance officers get jobs by accident. Companies pull them out from accounting or legal professions when they need them. Problems arise in companies, and they keep affecting the company as there lack people to influence the management of the company to take action. The career, compliance, is now offered in several universities as there is a great need for enforcement.
Helane Morrison is a perfect role model. Helane is a chief compliance officer at Hall Capital Partners LLC. She went to Northwestern University where she received a B.S. in Journalism. Ms. Helane also studied law at the University of California at Berkeley School of Law.
Ms. Helane joined Hall Capital in 2007. She was the first woman to hold the coveted seat of a district chief. In her previous jobs, Ms. Helane supervised major investigations, including three that led to enforcement actions against prominent people. Helane is an iron lady who understands her job as a compliance officer and does it as it to the best of her efforts.
Most organizations that are multinationals need a compliance department to handle language differences, cultural differences, and regulations in various countries. Companies need people who can fix the problems that they encounter; not attorneys, or more risk assessors.

One thought on “Compliance officers effecting change by fixing problems and preventing fraud

  1. Having the right structure has been proven to help in the work that Ms Halane has done with adequate Compliance. And bid 4 papers reviews looks to make it even well presented in the media about her job understanding. This will really boost the moral of more of the women following similar career pathways.

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