When you think about compliance in general, there are already many stigmas about the entire profession as well as the professionals who operate within that realm. However, the point of compliance is very simple. When there are rules and regulations in place, the only thing anyone needs to do is to verify they are following those rules and regulations. With respect to accounting, you could be fined. With respect to the general law, you could be sued. And, when it comes to general in house issues, you could find yourself taking on inefficiency and significant exposure just because your in house employees were too lazy to do the job correctly. That’s why even though some people view compliance as a mundane task with little importance, you need to start thinking about what compliance officers are truly able to do. One of the top officers in the field who is stepping into the spotlight, and that compliance officer is Helane Morrison.
Helane Morrison is not just an individual who has moved to the forefront of the field on compliance, she is actually someone who is helping to change the persona of the entire position. While Helane Morrison has definitely has significant experience within the risk and compliance segment before, her current role allows her to jump in headfirst in order to truly help and create change.
The point of what Helane Morrison is doing is not just making sure things are done correctly. The point is to show how effective the processes and policies of a chief risk officer can truly be. When policies are implemented and followed so that no stone goes unturned, the organization is much less likely to suffer lawsuits, claims, fines, or face any other scrutiny as a result of their day to day actions. When you also consider the actual costs that lawsuits will run up, insurance rates will be set at, and just the inefficiency in general that can also come up, you can see how the actions of a general risk and compliance officer can absolutely help with both saving money as well as increasing the amount of work done in an organization. Helane Morrison isn’t just aware of this, she is championing the idea everywhere she goes.
At the end of the day multiple organizations are seeing the opportunity as well as the necessity when it comes to risk compliance. The fact is, the ones who are embracing compliance are getting ahead.