I read Jo Ann Barefoot's Enron article and I had a sad chuckle when I read her comment about the number one complaint of Compliance Officers - lack of support from management?

Does anyone else get sick and tired of having their opinions brushed aside as unimportant, or too reactive, or not respected?

At the point you feel that your just a scapegoat for compliance problems that you have no authority or control over, do you just stick it out or do you start looking?

Does it ever get any better, or are compliance officers doomed to be the Rodney Dangerfields of banking?

Is it sad that I have to post this as anonymous?

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Is it sad that I have to post this as anonymous?

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You forgot the part about these views may not be shared by your employer.

The pendulum swings both ways and compliance will be a bigger deal at some point. It gets more respect then, and then it swings back the other way. We just do what we do, because we like it.

There are CEO's and Presidents out there that are supportive and understand the importance of compliance. I know they're few and far between - but they do exist.

I know this may be a surprise to many of you but I can't complain. Our company takes compliance very seriously and supports it well. We are currently centralizing many processes and compliance is included in the planning from day one of each. When we went to an online version for compliance training and the CEO saw how well it was received by the test branches we received nothing but high praise from him. Believe it or not some banks find compliance very important.

I once wrote an article for the ABA's compliance magazine titled something like, "The Sales Prevention Department?" I talked about ways to overcome the perception attributed to us that we always kill great ideas and products. Most of the regs out there tell us what we can't do. The secret to changing the perception we have is our figuring out how to do the things the folks who sign our paychecks want to do. Not an easy feat.

that was me above. Why I get logged out so posts become anonymous puzzles me.

I agree! And having that attitude, whether you're successful in figuring out a way management can do what it wants to or not, makes things easier. It also helps if you let management know that some of these regulations frustrate you as well, but nevertheless, you'll keep looking for ways for the bank to comply and still make money!

Compliance officers are like referees. When they do their job well, nobody notices them because everything is running smoothly. When they make a mistake, EVERYONE notices them. Very few people like them, but almost everyone will grudgingly admit that they are indispensable to the operation.

By the way, I am not a compliance officer. But I respect what compliance officers do, because I would not want that job.

Opinions expressed are not understood by my employer.

"We don't kill great ideas, we execute them..."

I too must post this anonymously. Unforturnately I feel exactly the same way. I've been doing compliance for the same company for over 12 years and I steadily feel like I'm losing ground each day.

I would have to agree with "Really Anonymous". Compliance, like being a mom, is a thankless job!!! And, since I happen to be both, life can get a little depressing at times. I also agree with "Sahooq" in that when a compliance officer is doing a good job nobody notices, and when things go wrong, EVERYONE notices. But, like Andy said, "we just do what we do because we like it!" That goes for me with both of my "jobs". Hang in there "Really Anonymous". You're not alone!!!!

VickiRae

It sounds like I am very fortunate, my bank values my services and always includes me in any discussion before a change is made. I guess being a former examiner helps. I always tell my management how the examiners would look at our procedures.

Yes, it helps if you have supportive management. Like the mom who is a compliance officer (me too), they can't live with out you, but then they are not always excited to hear what you have to say. It really really helps if you have a supportive board that takes compliance seriously and who supports senior management's position on doing things right. Hang in there! Like I heard Katie Ogle say at compliance school last year "my mom told me to find something that nobody likes to do and learn to do it really well." Since so few people really like compliance (except the nuts purusing this website daily-well, okay, sometimes hourly), you have some security knowing that just not everyone is good at or even likes dealing with this stuff. Okay, I'm preachin to the choir now, but hang in there. And prayer is even helpful!!

I have yet to meet someone who grew up wanting to become a bank compliance officer. Most of us in this craft were drafted in as well with few of us volunteering for the duty. You're right, the ugliest job that nobody else wants to do is where one can shine. I look at compliance as a necessary resource. The key is making ourselves that resource.

One other thought. Every reg we deal with came into existence because somebody was doing something out there that bothered someone in an agency or consumer group. In every reg is the kernel for an idea for the bank to do something that someone else did for the purpose of making money. Look at the regs not only as rulebook but as a guidebook on new ways to make money or to do things differently.

I may not have grown up wanting to be a CO, but after 18 years of retail banking, doing this full time was a dream job! Andy is right, that we do it for the fun of it. Just think of the impact you can have on proposed regulations and the implementation of procedures in your Bank. You get to work with all levels of staff and personalities, make time to read and converse with other compliance professionals. It is an ever changing job with new challenges every year. Who could ask for a better job?? It is ten million times better than working with a nasty customer (not that we have any of them ). When you put forth your best effort to do a great audit, the thoughts and opinions of others don't mean as much as long as you know deep down that you've done well.

Marcy, it's been my dream job, too. For many of the same reasons. I feel good about what I do - - I'm proud to have a special set of skills and knowledge that my bank values. I'm fortunate there, too, to have the full support of senior management. In 29 years, I've had 5 different banking employers. Some were not supportive or were just plain not good places to work. But a good compliance officer always has a set of marketable skills. If a compliance officer is unhappy, they really can find a better gig!

Over time I have come to realize that a genuine Compliance Officer is someone who:

Carries On Mightily, Promotes Lasting Integrity, & Advances Noble Causes Enthusiastically;
Overcoming Fear, Frustration, Ignorance, Confusion, Exhaustion & Relegation

I am proud to be a Compliance Officer and count them among my friends!

Amen Tyrone!

I also am proud to be a Compliance Officer. Didn't grow up wanting to be one but just kinda migrated in this direction. My bank supports Compliance but it is always an uphill battle when my job "squashed" plans for new products management wants to introduce. I try to offset any dislike I may feel over things like this with managements patience when I make a stupid mistake. Hope I can do this until I get ready to retire but with many more of these examiners from hell, some days I can't help but wonder!

Ken, I agree with you completely. I once worked for a bank and was told in my evaluation that I would not receive as big a raise as everyone else in management because I was not a profit-center. I wonder what they thought the compliance function was - certainly didn't look at it as cost savings in lieu of fines and penalties. Fortunately, I now work for a bank that gave me more than I asked for as a beginning salary and after our first compliance exam they gave me a BIG raise. It is so nice to feel wanted!

I feel very fortunate to work for an organization that recognizes the value of compliance. But even in the strongest compliance environments, it is inevitable to be looked at as the sales prevention department from time to time. But I truly think of myself more as a bridge builder than a wall builder. After all, compliance is simply doing what we are all supposed to be doing. So let's just figure out the best way to do things right!

I also like to refer to the compliance personnel in our organization as our "Income Preservation Specialists". We may not be bringing the dollars in the front door, but it is our job to see that they don't walk out the back door in the way of fines, penalties and settlements!

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I truly think of myself more as a bridge builder than a wall builder

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Excellent! I think many compliance officers do play "gotcha" and that isn't what this is about. Instead of being the "nay-sayer", figure out how something can be done within the regulatory guidelines, system requirements, and profitability requirements of the bank.

This leads to a team concept and one which is in compliance.