5 Things To Look For In A Compliance Director

3 min readJun 29, 2021

The role of a compliance director is key for any business that operates in regulated areas. The main responsibilities include ensuring that all areas of the business follow financial policy, reporting regulations, and the law, whilst implementing any changes accordingly.

This role is important within the FinTech industry as the regulations are ever-changing. Having a Compliance Director in place builds a solid foundation for a business’s growth whilst also creating peace of mind for investors. It certifies that the infrastructure of their potential investment adheres to regulations.

So, what skills should you look out for when hiring a Compliance Director?

1. Risk Management & Assessment

There are key steps a Compliance Director must take when managing risk, which involves identifying, analysing, planning, monitoring, reporting, and control. It is important that they are familiar with these steps and use them as a guide to tackle any potential risks.

A Compliance Director must have a base knowledge on regulation concepts and identify how it affects the business, to assess compliance risks and interpret them. This should then enable them to flag any legal, financial, business, or reputational issues that may occur.

2. Integrity & Honesty

Integrity and honesty are of course a must for any profession and a Compliance Director is no exception. The ability to uphold regulation standards can only be carried out by someone with a strong moral compass and honest quality. They must remain undivided and unbiased whilst executing their tasks and be trusted to highlight and solve problems in the organisations best interest.

3. Communication Skills

Written and verbal communication skills are essential to this role. Compliance Directors must be able to effectively communicate with colleagues at all levels to advise or update on their findings, clarify regulation topics, and make sure all sectors and resources are in line with the compliance process. This will instill the importance of the compliance process to the team thus allowing it to develop and grow.

4. Critical Thinking

Critical/analytical thinking is a desirable skill for a Compliance Director. It provides them with the ability to analyse data and strategically approach a problem. The role requires an independent thinker who understands the logical connection between business policies and compliance regulations.

5. Diplomacy and Negotiation skills

Making tough decisions is common in a Compliance Directors’ role. They are usually faced with issues such as how much time needs to be blocked out for team training or what disciplinary action the organisation needs to take following a compliance incident. It is important that the person can resolve these conversations and make them fair for all parties.

A Compliance Director is seen as a trusted partner that enables the business, whilst also protecting it from financial or reputational damage. Maintaining that balance can be difficult but it is up to the Compliance Director to keep a level head.

The future of this role will and already is beginning to see a shift towards ethics and data analytics. There will be more emphasis on behaviour models, values, and ethical leadership mixed with data analysis to detect and prevent compliance risks.

Are you on the hunt for a Compliance Director? Or looking for your next role as one? Get in touch. Our specialist Consultants can advise you on the process and connect you with their network of highly skilled FinTech talent.

Originally published at https://storm2.com on June 29, 2021.