The increasing regulation on organizations in the recent past has boosted the demand for compliance officers in an incredible way. Various States in US are expected to hire more compliance officers in the coming years, with Utah, Colorado, and Florida States being among the top States that are projected to record the strongest demand for this little known but important career. Additionally, the increase in demand for compliance officers has been boosted by the wake of the global financial crisis as reported by the Wall Street Journal which recognized the career as among the hottest in America in January 2014. According to the Journal, the huge fines and penalties incurred by various companies have spurred the hiring rush for compliance officers.
What Do Compliance Officers Do?
If you are not sure about what a compliance officer does, you are not alone: I also came to know about the career not long ago. Generally, the career has been around for a very short duration and it is not that well known. Nonetheless, its ranks and prospects are constantly growing.
The role of a compliance officer is to promote compliance with standard processes, rules, and regulations that govern how organizations should conduct business. This involves using variety of tools such as risk assessments, audits, investigation, and education to investigate how an organization handles its financial transactions, how they maintain their clients’ accounts, and how it operates business in general. The job requires one to actively stay updated with the latest corporate laws, regulation, and trends, and to have the capacity to translate the requirements for smooth operation of an organization.
The Life and Work of Compliance Officer Helane Morrison
Among the top compliance officer in the US who have put the compliance officer career in the global limelight is Helane Morrison. Helane is the General Counsel, Managing Director, and the Chief Compliance Officer at the Hall Capital Partners LLC. Before she joined Hall Capital, Ms. Morrison headed the U.S Securities and Exchange Commission’s San Francisco office between 1999 and 2007. She represented the company in business, legal, and financial spheres as wells with news media and government agencies.
Ms. Morrison is a seasonal speaker on compliance and legal issues that affect private funds and investment advisers. With a solid background in business litigation law and defense of private securities, I believe that Ms. Morrison is among the handful females who have carved their niche in the compliance industry.