Compliance Officers: Doing vs. Managing
A compliance officer’s job is to oversee the compliance function and “manage” compliance, not “do” compliance. For example, when a customer opens a new account, the compliance officer is not the one that discusses the available options, provides necessary disclosures, or explains other account-related information. But the compliance officer needs to ensure those “doers” that are responsible for these tasks have the knowledge to carry out their duties and if/when mistakes are made (and mistakes will be made), that there is a process in place to train these team members and help ensure they do it right next time. Completely eliminating errors, while an admirable goal, just isn’t very realistic and the focus should be on mitigating errors.
David explains more in the video.
2024/12/03
David Dickinson
David’s banking career began as a field examiner for the FDIC in 1990. He later became a Compliance Officer and Loan Officer for a small bank. In 1993, he established Banker’s Compliance Consulting. Along with his amazingly talented Team, he has written numerous compliance articles for prestigious banking publications and has developed compliance seminars that Banker’s Compliance Consulting produces.
He is an expert in compliance regulations. He is also a motivational speaker and innovative educator. His quick wit and sense of humor transforms the usually tiring topic of compliance into an enjoyable educational experience. David is on the faculty of the American Bankers Association National Compliance Schools and has served on the faculty of the Center for Financial Training for many years. He also is a frequent speaker at the ABA’s Regulatory Compliance Conference. He is also a trainer for hundreds of webinars, is a Certified Regulatory Compliance Manager (CRCM) and has been a BankersOnline Guru for many years. The American Bankers Association honored David with their Distinguished Service Award in 2016.
David and his wife Karen have three adult children, four grandchildren (none of whom live at home!) and two cats (of which Dave is allergic … the cats, not the children!). They recently moved to an acreage outside of Lincoln, Nebraska where he gets to play with his tractor. When possible David can be found fishing, making sawdust in his shop, or playing the guitar and piano. He also enjoys leading worship at his church.