A compliance officer’s job is not the most popular type of position that a person can have but it is extremely important. Compliance officers are needed within the business and financial industries to ensure that organizations and independent workers are using legal and ethical practices in their dealings. A top level compliance officer named Helane Morrison knows the kind of corruption that takes place within the world of business and finance. She has spent a great deal of her career fighting against this type of corruption.
Financial institutions and individuals are given a certain level of trust by default. Many people honestly believe that if a person works within this type of field that simply means that they are naturally going to do the right thing. Unfortunately, this is not always true.
One of the biggest reasons as to why the Great Recession of 2008 happened was due to the greed of business and financial workers. Many organizations and individuals who worked in these field used unethical practices to issue bad loans and to carry out bad business.
Even before the 2008 recession had taken place, some CEO’s, investors and financial officers were not doing the right thing. Investors were allowing people to put their money into faulty ventures that they knew were going to fail, bankers were securitizing loans that were flat out bad and fraud was being committed by many companies because there were no laws in place to keep it from happening.
Sometimes, a business will do things that are not ethical. They are not necessarily trying to be deceptive or get over by breaking the law; their actions could result out of frustration, bureaucratic restrictions or they see loopholes that will allow them to get ahead in an impractical manner. While all of these factors come into play that does not mean that an organization can do whatever they desire to make a profit.
Compliance officers enforce government, state and local laws pertaining business practices or operations. They ensure that financial records are well kept and maintained. They also make it a point to ensure that clients are not being cheated against by the companies that they do business with.
Helane learned a lot about ethical integrity during her time with the SEC. She was the first woman to be appointed to the head of the organization and was lauded for her time there in this WSJ article.
Helane Morrison was a rare compliance officer that was able to motivate her fellow workers to do good while they carried out their duties every day. This woman worked hard to ensure that everyone underneath her command performed with excellence. Helane Morrison’s work ethic and compliance management style is outlined in the article How Helane Morrison is Shattering the Glass Ceiling in the Corporate World.
Learn more about Helane by visiting her Crunchbase or connecting with her on LinkedIn here >> https://www.linkedin.com/in/helane-morrison-739aa1110