A common saying argues that much is expected of the bearer of responsibility. The same principle applies to compliance officers. The officers represent an expanding field of practice that keeps corporates grounded and focused on sustainable practice.
However, in as much as they align such practice, they can easily be outmaneuvered by senior management. Such loopholes explain a significant number of cases under investigation by government agencies in the United States. Unfortunately, the compliance officers bear the brunt of these surveys on grounds of responsibility and duty to ensure compliance as told on SDCEXEC.
Such controversy has caused a stir in the risk and compliance sector as practitioners witnessed increased apprehension. However, it also acts as wake up call for such officers to seal the loopholes and point out violations to compliance standards. In the end, there’s added responsibility on each professional to discharge their duty to the letter.
Another solution for this crisis would be to make compliance officers senior management officials. Currently, only a few compliance professionals occupy senior management positions in the corporate world. There has been a consensus that these officers need to seek further responsibilities an argument best personified in Helane Morrison.
Helane Morrison happens to be one of the very first compliance and risk practitioners. She started out in the early 1990’s without industry specific training. Helane went on to define the standard code of practice in compliance and mentored generations of other professionals. Today, Helane sits atop the management tier of an investment bank in San Francisco named Hall Capital as Managing Director.
Other roles Ms. Morrison fulfills include that chief compliance officer and the firm’s lawyer. What this means is that she has the power to influence decisions at management level while making sure the company remains compliant. However, there’s even greater responsibility on her part to deliver positive results.
Helane Morrison has witnessed a fruitful career and overcome great odds. She provides a glimmer of hope and encouragement to the industry in light of prevailing pressures. In fact, she could yet influence the thinking of her peers through seminars and other publications. The compliance building journal also provides a perfect platform for knowledge sharing. The entire compliance community will be looking to her for direction for the foreseeable future.