I believe that the job of a Compliance Officer brings about immense dislike by CEOs and company employees in every corporation and business nationwide. I think that this thankless job carries with it a love/hate relationship between firms and the higher powers that oversee these companies abide by certain rules and regulations. A Compliance Officer considered a whistleblower, reports on any issues where that the corporation is not abiding by the rules and regulations set forth for the protection of everyone involved, CEOs, boards, employees, and the consumers.
As an example, a Compliance Officer on Wall Street makes sure that the traders and staff abide by the laws and regulations set up for everyone’s protection. There is always a fine gray line, and this Officer makes sure no one crosses this line in daily dealings.
If the Compliance Officer does not do the job expected and reports made show mistakes and the collection of incorrect data their actions come under the scrutiny of higher officials and even the law on possible negligence charges.
I feel that every company has the responsibility of showing compliance, and this is accomplished through the efforts of an experienced Compliance Officer.
This investigation is useful because it seems to be the driving force for keeping even the most experienced Compliance Officers within their company accountable for deliberate and negligent actions in regards to financial crimes, schemes, and unlawful activity.
Companies frown upon the Compliance Officer and the responsibilities they are in charge of, just because it makes companies accountable for illegal actions leading to prison time and hefty fines. A person qualified to accept the position as a Compliance Officer thinks twice these days whether or not to take such as precarious love/ hate position, even though salaries have skyrocketed upwards to millions a year.
Helane Morrison formally from Brooklyn, New York and former regional director of the United States Securities and Exchange Commissions. She is a lawyer and keen businesswoman, serving in the field of company compliance since 2007. She received her bachelor’s degree from Northwestern University in journalism, then went on to earn her law degree and Juris Doctor from the University of California.
The Compliance Officer began a career in law over 20-years ago. Morrison held a position as Regional Director of the SECoverseeing enforcement programs in Northern California, Montana, Idaho, Northern Nevada, Alaska, Oregon, and Washington. Currently, she serves as chief compliance officer and general counsel for a private investment company Hall Capital Partners LLC.
Connect with Helane on LinkedIn to learn more about her career.