With the 2004 adoption of the Investment Advisers Act compliance rule s, many professionals found themselves ‘promoted’ into a Chief Compliance Officer role that was ill defined, fraught with uncertainty, and often assigned the difficult task of opposing the will of colleagues over critical business issues.
While compliance lends itself to a discussion of rules and regulations, enough ink has been dedicated to the technical aspects of the job. What we’ve all learned over the last decade is that technical skills can earn you a spot on the team, but they don’t guarantee success.
What more is needed? Both seasoned and aspiring compliance professionals want guidance on compliance as a career, and CEOs seek tangible measures of what distinguishes an effective CCO from an ineffective one.
In many ways, the passage of the ‘compliance rule’ in 2004 marked the beginning of compliance as a profession within the investment management industry. To illuminate how some successful compliance professionals have navigated their evolving roles, we invited four leading Chief Compliance Officers —Patricia Flynn, Maureen Milet, Tito Pombra, and Adam Reback—to share their stories. In the attached article, originally published in Practical Compliance and Risk Management for the Securities Industry by Wolters Kluwer, they discuss unique, as well as common, views and experiences with a great deal of candor, humility, and—most importantly—humor. Their diverse backgrounds illustrate that aspiring compliance professionals can start their careers in many places— operations, accounting, trading, or law—and can develop the skills necessary to be successful. We thank these talented and busy executives for their candor and encouragement of other compliance professionals.
Clink Link for Full Article
CCO Insights: Career Paths and Key Skills
The National Examination Program (“NEP”) of the Securities and Exchange Commission (the “Commission”) recently published its examination priorities for 2013, including those related to investment advisers, investment companies, and broker/dealers.
We have summarized their priorities for your use in the attached article, originally published in Practical Compliance and Risk Management for the Securities Industry by Wolters Kluewer.
To the extent that the NEP provides this transparency, we find it useful to incorporate it into our planning on behalf of clients as we conduct risk assessments and annual reviews, and as we assist firms in adjusting their internal compliance priorities.
The NEP based their priorities on a variety of sources, including information reported by registrants in required filings with the Commission, information gathered through examinations conducted by the NEP and other regulators, and comments and tips received directly from investors and registrants.
Click link below to read full article.
Short Interest: A Summary of SEC Examination Priorities for 2013
ReGroup is proud to present IMPORTANT VOICES 2011, a full day leadership conference that brings together investment industry visionaries and practitioners to discuss practical insights and the increasing importance of interdisciplinary risk management and problem-solving.
The demand for forward-thinking professionals has never been greater. Through an interdisciplinary approach, IMPORTANT VOICES 2011 will educate, inspire and engage attendees that are looking for fresh ways to balance operational efficiency within their organization with regulatory restrictions and fiduciary duty. We will provide practical tools designed to help you and your organization succeed in today’s challenging business environment.
Join us on August 4th and 5th in beautiful San Francisco for get educated and participate in the conversation designed to help you and your organization optimize performance.
Click here to read more about this exciting summer event.
Mastering how you manage your time does more than reduce your stress and help you get your job done. It demonstrates that you can manage your most important resource (you) against the risks and opportunities that your firm faces.
Critical Skills – Time Management.pdf
How do you know you’re facing an ethical issue? Why do professionals in our industry do bone-headed and unethical things that put all our jobs at risk? How do you partner with the CEO to create a culture that is conducive (that demands!) ethical conduct? We’re passionate about ethics, but we find that so many of our clients – especially CCOs – are overwhelmed with their day-to-day obligations that they haven’t taken time to educate themselves on their ethical role in their firm. The attached presentation was designed to give you a foothold on ethics.
Critical Skills – Professional Ethics for Compliance Professionals.pdf
Too much to do and not enough time? It sounds like the perfect time to ReThink your strategy. More than ever, getting compliance done requires planning skills that no one taught you in college – or law school. We have translated classic strategic planning into regulatory risk management language for compliance professionals to get a leg up on planning. Most importantly, it’s a battle tested skill that really works. As an added benefit, your other C-Level colleagues will appreciate how you think and communicate about your priorities…which all wraps up into a nice package called Credibility.
Critical Skills – Strategic Planning for Compliance.pdf