Shifting the Image of Compliance by Incorporating Political Advocacy

In my work as Compliance Assistant, as well as in my Quality Control duties, I have often encountered employees who are not thrilled to see me walking down the hall. There seems to be a sense of disdain, apathy, frustration, or sometimes even fear, associated with Compliance in general. It is no secret that employees are apprehensive of my mere presence in their branches and are generally uninterested in the topics that I cover. I firmly believe that perception needs to change. Compliance should not be viewed as a necessary evil. Compliance is security, insurance, agility, and consumer protection for our members and the services that we offer them!

Compliance is Beneficial

Compliance is not just the oppressive “no” man of the credit union. I’m not going to lie; there are definitely some things that we simply can’t allow, but it is not because compliance officers want to arbitrarily stomp all over any differing perspectives or attempts to find innovative or creative solutions for our members. No, it is far more positive than that! It is in our best interest to obey the rules. In fact, compliance folks like me are called upon to maintain the safety and soundness of our institution and we must abide by the limitations that are imposed on our day-to-day business activities in order to accomplish that. The great thing about Compliance is that we play a crucial role in protecting our members from crimes such as identity theft, exploitation, and fraud, as well as detecting and preventing criminal activity including human trafficking and terrorist financing. Ultimately, we want to ensure that we are offering the best possible services and products to every member, every single time they walk through the door looking for a solution. We achieve this through well-defined, protective, fair, and non-abusive policies and procedures.

A Call to Advocacy

We are all aware of the fact that the financial services industry is highly regulated. There is a mountain of regulations to comply with (I know, I know – I can hear your collective groans of dismay already) and that regulatory burden is felt by the entire credit union movement. Believe me, I feel it myself! This is what has prompted me to begin advocating for us and for change to our regulatory requirements. I want to help alleviate that burden for all of us and reduce our workload. First, I need to better educate my co-workers about the regulations. It is helpful for employees to be informed so that they truly understand the regulations and the benefits of maintaining compliance. When they personally experience the impact, they will become more passionate about affecting change. Combining their understanding of the regulations and passion for change, with instructions on how to advocate for pro-credit union legislation, they will be equipped to advocate. Then when bills are coming up for votes in the legislative realm, they will be ready to make a phone call, send an email, or draft a letter letting their legislators know the pros or cons from the credit union perspective. We have the ability to tell lawmakers our stories and garner their support which can result in significant changes like we just saw with the historic, bipartisan passage of Senate Bill 2155. When we tell our legislators how an issue specifically impacts our day-to-day tasks, we convey the need for common sense regulation and change.

Cultivating a Culture of Compliance and Advocacy

My goal is to make life simpler for our employees by explaining regulations so that they are less scary and intimidating. Incorporating games and activities to make compliance topics more fun and interesting during branch visits, I will reap the benefits of a staff that is committed to the safety and soundness of our institution, rather than mere conformity to the rules. Furthermore, I want to reduce the workload for each of us by advocating for common sense regulation and change. We can work with our legislators and educate them about their ability to assist us, their constituents. They like to know when a piece of upcoming legislation (or their assistance drafting a specific change to an existing rule) would result in a real, tangible reduction to our daily workload! I will be using infographics and brief role-playing scenarios during my branch visits to teach advocacy to my fellow employees. 

Stay tuned for an update in the near future after I implement these new activities with our staff.

Aubrey Gallagher