Share The Wear And Tear

This has been an incredibly busy year for compliance. Those of us who have the luxury of working in compliance full time (and don't have to put on other hats such as loan officer, quality control or human resources, to name a few) have found keeping up with 1996 developments to be a challenge. For part-time compliance managers, the effort can be overwhelming.

So how does a compliance manager survive in a year like 1996? We survive with a little help from our friends. Obviously, this is a good time for me to thank my friends, the Board of Advisors. Their support for Compliance Action and their many other activities illustrates how important it is to work together to find solutions and ways to get the work done.

These compliance pros discovered long ago that networking is critical to your success as a compliance manager. That's why one of our goals is to provide you with a resource for your questions and problems. Remember that you can call our toll-free number, (888) 347-7347 for answers to your questions.

But you should also network with other compliance managers. Compliance is a non-competitive skill. Bank's don't usually compete with other banks by having the best compliance program around. This means that you are able to talk with compliance managers at competing banks, without revealing any trade secrets or marketing strategies, to discuss how to handle problems.

You can also work with compliance managers you meet at schools and conferences. Talk with people during breaks, collect lots of business cards and stay in touch. One of those people you met at compliance school may have already done what your CEO just asked you to do by 4:00 today!

Another important resource is the internet. In our feature, "Wired for Compliance," Richard Insley is providing you with information about what you can find and how you can find it in that new dimension, cyberspace. More and more compliance managers are moving there. Even regulators are found on the 'net with increasing frequency.

Sharing the wear and tear make you a better compliance manager and make your life much easier. Don't be shorn and worn, pick up the phone or log onto the internet for help.

Copyright © 1996 Compliance Action. Originally appeared in Compliance Action, Vol. 1, No. 15, 10/96