If your credit union's compliance officer still acts as little more than a watchdog, barking directives about what you can and can't do, he or she may be taking unintended bites out of your future member service capabilities and competitive positioning.
In an environment characterized by a plethora of new laws and burgeoning enforcement actions, compliance officers today must operate as business catalysts, helping their credit unions grow within the rigors of a rapidly changing regulatory landscape, according to Andy Greenawalt, founder and CEO of Continuity Control, a New Haven, Conn.-based financial technology company.
"Compliance officers must look at things with a critical eye and have a mindset of possibilities," said Greenawalt during his Dec. 12 webinar titled, "Compliance Officer 2.0 – Are You Ready?" "Changing your thinking is absolutely imperative to the survival of your institution and your industry."
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