Member Login | Become a Member
Innovative Payments Association
  • About Us
    • Our Team
    • IPA Board of Directors
    • Our Members
    • Sponsorship
    • Contact
  • News & Events
    • Calendar
    • Newsroom
  • Podcast
  • Blog
  • Membership
    • Member Directory
    • Membership Application
    • Member Login
  • Member Resources
    • FCTF
    • GRWG
    • Government Update
    • State Legislative Tracker
    • Financial Crimes Investigators
    • Glossary & Resources
  • Advocacy
    • CFPB
    • Covid Response
    • Durbin Amendment
    • Earned Wage Access
    • FDIC & OCC
    • Fees
    • Payroll Cards
    • Privacy Legislation
    • Prepaid Rule Litigation
    • Reg E
    • Unclaimed Property
  • IPC 2023
    • Agenda
    • FAQ
    • Sponsorship Opportunities
    • Hotel & Travel
    • 2023 Maher Award
  • About Us
    • Our Team
    • IPA Board of Directors
    • Our Members
    • Sponsorship
    • Contact
  • News & Events
    • Calendar
    • Newsroom
  • Podcast
  • Blog
  • Membership
    • Member Directory
    • Membership Application
    • Member Login
  • Member Resources
    • FCTF
    • GRWG
    • Government Update
    • State Legislative Tracker
    • Financial Crimes Investigators
    • Glossary & Resources
  • Advocacy
    • CFPB
    • Covid Response
    • Durbin Amendment
    • Earned Wage Access
    • FDIC & OCC
    • Fees
    • Payroll Cards
    • Privacy Legislation
    • Prepaid Rule Litigation
    • Reg E
    • Unclaimed Property
  • IPC 2023
    • Agenda
    • FAQ
    • Sponsorship Opportunities
    • Hotel & Travel
    • 2023 Maher Award

Blog

How the FBI Fosters a Culture of Compliance

8/8/2022

 
Picture
Financial services companies are often advised to create a “culture of regulatory compliance” without anyone really discussing what that means or how to do it.

The Federal Bureau of Investigation has developed its own culture of compliance within its ranks. In the book, The FBI Way, Frank Figliuzzi, the former chief inspector for internal inquiries at the Bureau describes how it does that.

​Getting everyone involved, particularly FBI leadership, is critical to success, he writes.

“I am convinced the FBI’s practice of mandatory leadership participation in both the [Office of Professional Responsibility] and inspection processes forges more knowledgeable and accountable leaders. Many companies unconsciously send the message to their employees that compliance and ethics is someone else’s job. Corporations often make audit staff assignments optional for executive trainees or fail to properly incentivize or reward such roles. When it comes to addressing allegations of misconduct, most companies allocate that responsibility solely to human resources or legal departments. Yet, how can you trust your leaders to comply with standards if you don't trust them to enforce those standards?”

Companies that want to make sure their own regulatory work goes beyond just checking box can apply the FBI model to their own organization. Executives and founders should ask themselves where regulatory compliance fits into their organization and how is it viewed by the rest of the company.

Is the compliance group viewed as the “no department” to be avoided as much as possible? Are regulatory questions viewed as “the lawyers’ problem” by leadership? Is the legal department viewed as a separate but equal part of the company?
​
If the answers to these questions are ‘yes,’ then it might be time to reevaluate how the company approaches compliance questions. One way to fix the culture may be to have more employees spend some training time with the compliance department. Another is to get leadership more actively involved in compliance decisions. It does not mean that the CEO needs to approve every transaction exception, but letting leadership see the process from time to time will help everyone be ready for those times when things go awry. 


Comments are closed.

    Author

    Write something about yourself. No need to be fancy, just an overview.

    Archives

    March 2023
    February 2023
    January 2023
    December 2022
    November 2022
    October 2022
    September 2022
    August 2022
    July 2022
    June 2022
    May 2022
    April 2022
    March 2022
    February 2022
    January 2022
    December 2021
    November 2021
    October 2021
    September 2021
    August 2021
    July 2021
    June 2021
    May 2021
    April 2021
    March 2021
    February 2021
    January 2021
    December 2020
    November 2020
    October 2020
    September 2020
    August 2020
    July 2020
    June 2020
    May 2020
    April 2020
    March 2020
    February 2020
    January 2020
    December 2019
    November 2019
    September 2019
    August 2019
    July 2019
    June 2019
    May 2019
    April 2019
    March 2019
    February 2019
    January 2019
    December 2018
    November 2018
    October 2018
    September 2018
    August 2018
    July 2018
    June 2018
    May 2018
    April 2018

    Categories

    All
    Member Profiles
    Podcast
    Power Of Prepaid
    Prepaid
    Small Business
    Webinar

    RSS Feed

Home
​​About Us
Advocacy
Newsroom​
IPA News & Events
Payments Podcast
Blog​
​Events


Innovative Payments Conference
​Sponsorship Opportunities
FAQ

​Contact Us
© COPYRIGHT 2023 ALL RIGHTS RESERVED.