Compliance: A dynamic process

I am looking forward to meeting with compliance colleagues at ARK’s Regulatory compliance for small law firms and alternative business structures conference on 17 March. 

One thing I have learned on my personal compliance journey is that the ability to create beautifully crafted systems and processes, or attaining and retaining membership to accreditation schemes, is only half the story and there is so much more which is needed to create the compliance culture in which the firm and its members can thrive. 

This stands to reason when you consider that much of the compliance professional’s work is based on risk evaluations and many conversations start with the statement “It depends…..”.

I would argue that compliance is a dynamic process, the compliance professional’s task is never completed and their knowledge requirements are not finite. In fact compliance is a team effort and the compliance professional needs support both from work colleagues within their business and from an external network which will support their own personal development.

Being a compliance specialist can sometimes be a solitary role with many challenges: Internally, how do you win over hearts and minds of colleagues who have not yet bought into the benefits of working in a business with deep-rooted and non-negotiable professional standards? Is there a need for a cultural change and how can this be made to happen? Outside the firm, how do you locate trusted sources of expertise; and where is your forum for sense-testing the “it depends” judgement calls?

ARK’s conference, designed for smaller law firms, is an opportunity to share compliance experiences with like-minded colleagues and with subject experts who will share their experiences of the challenges of the task you have taken on.

Tracey Calvert
Director, Oakalls Consultancy Limited