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Foundations of engaging with Compliance Officers

By August 16, 2021August 24th, 2021No Comments
Compliance Officers

Every day, the Gungho team has the honour & privilege to speak with a global community of Compliance Officers.  These are diligent professionals, carrying a demanding burden of responsibility for their organisation.

By understanding the responsibilities and challenges faced by this community, the Gungho calling team has built a global reputation assisting RegTech vendors to have more meaningful conversations with their target audience.

What your target persona – the Compliance Officer is responsible for…..

Compliance Officers are one of the most important members of the management team and are primarily responsible for overseeing compliance within an organization, and ensuring compliance with local & international laws, regulatory requirements, policies, and procedures.

Just a few examples from the myriad of their responsibilities;

  1. Understanding the existing & emerging regulatory compliance requirements & threats across the organisation.
  2. Overseeing and monitoring the implementation of the compliance program.
  3. Providing guidance, advice, and training.
  4. Providing strategic direction & reporting on compliance, regulations & risk.
  5. Interacting with regulators on compliance, regulatory & risk related issues and monitoring external review processes.
  6. Coordinating efforts related to audits, reviews, and examinations.
  7. Developing policies and programs that encourage managers and employees to report suspected FinCrime, Fraud and other improprieties, without fear of retaliation.
  8. Coordinating internal compliance review and monitoring activities.

The compliance leader and subject matter expert is responsible for establishing standards and implementing procedures to ensure compliance programs are effective in identifying, preventing, detecting, and correcting noncompliance with applicable laws and regulations.  With this in mind, RegTech vendors can accurately build a picture of their target buying personas, and start to plan engagement programmes to drive interest, brand awareness and create valuable revenue opportunities.

Not only does the Compliance Officer carry huge responsibility across their organisation, but they face several complexities which makes their role, frequently challenging.  Here are the two most common challenges the Gungho team regularly come across;

  1. The Compliance Officer is lacking in the financial and human resources necessary to do the job.
  2. The Compliance Officer is confronted with ineffective monitoring tools and inadequate reporting of policies & procedures.

Gungho are considered experts at identifying revenue opportunity amongst Compliance Officers, Money Laundering Report Officers, Bank Secrecy Act Officers, Heads of Third Party Risk and heaps of professionals with similar job titles.  Our mission is always the same: to have unscripted, intelligent conversations that lead to well-qualified appointments for our RegTech clients.  We’ve gotten to know the role of the Compliance Officer, their challenges, and concerns, and what makes them tick – making us successful in the conversations we have and appointments we secure.

Click here for more information about the Personas behind the Compliance Function.