Compliance officers’ job has been around for a short time, and not many know about it. However, this profession is growing at an increasing rate. The work of a compliance officer is to enforce compliance programs pragmatically. This aims at preventing, finding, and fixing ethical and regulatory issues with the help of tools such as audits, education risk assessment, and investigations. This profession has grown from zero to thousands of compliance officers for over 20 years each with different functions.
The demand for compliance officers is intended to rise with more and more state and federal rules being effected on businesses. Compliance is one of the most rapidly growing career paths in the world. Executing the day-to-day compliance involves not only abiding by federal and state rules but also following keenly the internal controls. The rules followed by compliance officers are considered punitive by many and are said to be made-up rules. However, that is not the case as there are set controls and regulations guiding a compliance officer.
Compliance officers primarily help a company in ensuring the employees follow the company’s rules to avoid punitive measures being undertaken. A prospecting compliance officer requires people skills and technical skills in addition to being able to influence a company’s leadership. Problems pile up in a company due to lack of an influential person in the management. Several universities have incorporated a formal degree program targeting potential compliance officers. The growth in regulating controls and the need for enforcement have led to significant growth in this sector.
This profession has experienced significant growth both locally and internationally. There are very successful compliance officers out there all with excellent qualifications. One outstanding compliance officer is Helane Morrison, who is a lawyer. Ms. Morrison is the Managing Director, Chief Compliance Officer and General Counsel of Hall Capital Partners LLC. Ms. Helane is also a member of the firm’s Executive Committee.
Helane had been directing enforcement programs of the Securities and Exchange Commission before joining the Hall Capital Partners LLC as a Regional Director. As a Regional Manager for Securities and Exchange Commission, Helane was responsible for litigation, securities enforcement, and regulatory matters. Ms. Morison practiced law at the San Francisco law firm previously.
She is also a member of the Board of Regional Parks Foundation. Ms. Helane is also a periodic speaker on topics mostly concerning legal issues and compliance matters that affects private funds and investment advisors.