Abdulla Al-Fadli CCO
,, ,, Wealth consists not in havinggreat possessions, but in having few wants.
- Epictetus
Engineering Minds in Ac on
Theysay, "Success is where preparation meets opportunity." ForChiefCommercial
Officers(CCOs),thiswisdomringsparticularlytruewhenitcomestodeveloping andexecutingarobustcommercialstrategy.Awell-craftedcommercialstrategyis vitalforanyorganizationseekingtothriveinacompetitivedomain.
Thefirststepinthisjourneyinvolvesidentifyingmarketopportunities.Thismeansclosely analyzingindustrytrendsandunderstandingcustomerneeds.Byrecognizinggapsinthe market,CCOscanpositiontheircompanytomeetthosedemandseffectively.Once opportunitiesareidentified,definingtargetmarketsbecomesessential.Thisstrategicfocus allowstheorganizationtotailoritsofferings,ensuringthatproductsandservicesresonate withtherightaudiences.
Creatingactionableplansisthenextcrucialelement.Theseplansshouldoutlinespecific goalsandtacticstomaximizerevenueandincreasemarketshare.Bysettingmeasurable objectives,CCOscantrackprogressandadaptstrategiesasneeded.Collaborativeefforts withotherdepartments,suchasmarketingandsales,enhancetheexecutionoftheseplans, ensuringthateveryoneisalignedtowardcommongoals.
Intheversatileworldofbusiness,theabilitytopivotandrespondtochangingcircumstances isalsoimportant.Asuccessfulcommercialstrategyisnotstatic;itevolvesasnewinsights anddataemerge.Byfosteringacultureofinnovationandresponsiveness,CCOscanlead theircompaniestosustainedgrowthandsuccess.Embracingtheseprincipleswillultimately pavethewayforachievingremarkableresultsinthemarketplace.
Inthelatesteditionof The CIO World,titled"MiddleEast's10MostInfluentialCCOsto Know,"featuringleaderswhohavemadesignificantimpactsintheirorganizations,the spotlightisontheCCOswhoareredefiningcommercialstrategiesinarapidlyevolving businessenvironment.Theseleadersexemplifyhoweffectivecommercialleadershipcan driveorganizationalsuccessandinnovation.
Haveagreatreadahead!
08. Abdulla Al-Fadli
Groundbreaking Compliance in a Hastily Changing Financial Era
20. Hemanth Kumar
Integrating Compliance into Federal Exchange's Growth Strategy
28. Selin
Vural
Navigating Global Compliance with Cultural Acumen
ARTICLES
16. 24.
How to Develop a Compliance Program E ectively
What are the Career Paths for Chief Compliance O cers?
- Anand Mahindra
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Business Development Manager
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Mia
Richard
Featuring
Abdulla Al-Fadli CCO
Hemanth Kumar CCO
Javier Bertolá CCO
Mandy N. CCO
Nomonde Hlongwa CCO
Selin Vural CCO
The Commercial Bank (P.S.Q.C) www.cbq.qa Company
Federal Exchange www.federal exchange.ae
Miahona www.miahona.com
Suze e Els CCO
Yellow Card Financial www yellowcard.io
Standard Bank Group www.standard bank.com
Dorsch Gruppe www.dorsch.de/en
Standard Bank Group www.standardbank.com
Descrip on
Abdulla Al-Fadli drives strategic growth and innova on, enhancing customer rela onships and service excellence at a prominent financial ins tu on.
Hemanth Kumar excels in fostering partnerships and op mizing service delivery within a leading money transfer company
Javier Bertolá champions customer engagement and sa sfac on, ensuring seamless experiences in a dynamic financial services environment.
Mandy N. focuses on expanding market reach and enhancing user experiences in the cryptocurrency financial sector.
Nomonde Hlongwa leads ini a ves that priori ze customercentric solu ons, driving performance at a major banking group.
Selin Vural promotes innova ve strategies to enhance client sa sfac on and opera onal efficiency within a renowned engineering firm.
Suze e Els is dedicated to cul va ng strong client rela onships and delivering excep onal service in the banking industry
Velile Memela CCO
Sanlam www.sanlam.com
Velile Memela is commi ed to advancing customer engagement and financial solu ons at a prominent insurance company
Yurika Pistorius CCO
Clientele Limited www.clientele mobi.co.za
Yurika Pistorius specializes in enhancing customer experiences and driving growth within a leading financial services provider
Abdulla Fadli Al-
Groundbreaking Compliance in a Hastily Changing Financial Era
Abdullaboostsopendiscussionsabout compliancerisksandraisescollaboration bothwithinhisteamandacrossother unitswithinthebank,reinforcingthe “one team, one bank"spirit.
Abdulla Al-Fadli CCO
,Abdullabelievestechnology boostscomplianceinbanking byautomatingroutinetasks, monitoringtransactionsin realtime,andanalyzingdata tospotrisksearly.
AcomplianceandFinancial CrimesControlleaderissteering thecomplicatedregulatory environmentandfinancialcrimethreatsthatfintech companiesandbanksfacetoday.Thisstrategicleader developsandimplementscomprehensiveprogramsfor fraudprevention,know-your-customer(KYC)andantimoneylaundering(AML).
Byemployingadvancedanalyticsandcultivatinga complianceculture,thisleadercertifiesthatthe organizationcanproactivelyidentifyandmitigaterisks, safeguardcustomerassets,andmaintainitsreputation. Inanincreasinglydifficultfinancialenvironment,their expertiseupholdsintegrityandtrust.
AbdullaAl-Fadli,ChiefComplianceOfficerofatop commercialbank,isspearheadingprogramsthat improvetheorganization'scapacitytosuccessfullyfight financialcrimesinthiscrucialcapacity.
Abdullaisdedicatedtomakingsurethebanknotonly complieswithregulatoryrequirementsbutalsopromotes acultureofethicalpracticesandtransparency.Hehasa strongbackgroundincomplianceandriskmanagement.
Inaworldthatisshiftingquickly,hisleadershipis indispensablefornegotiatingthecomplexitiesof financialregulationsandpreservingthebank's reputation.
Come along as we explore his journey!
Leading Compliance andIntegrity
Abdulla,EGMandChief ComplianceOfficeratthe CommercialBankofQatar,isa leaderincomplianceandfinancial crimecontrolwith18yearsof experience.HoldinganMBAfromthe UniversityofHull,UK,heisknownfor supplementingregulatorycomplianceand buildingstrongrelationshipswithstakeholders.
Obsessedbyapassionforintegrityandtheright standards,AbdullahasledinitiativesatCBQtoimprove compliancesystems,streamlineprocesses,andreduce financialcrimerisks.CBQ’seffortsonthe5Cs—Client Centricity,Creativity,Collaboration,Complianceand CorporateEarnings—lineupwithhisvalues,certifying thebank'sreputationasatrustworthyfinancial institution.
APillarofInnovationandIntegrity
Sinceitsestablishmentin1975,theCommercialBankof Qatar(CBQ)hasbeenakeyplayerintheregion's financialsector.Overnearlyfivedecades,CBQhas evolvedtomeetchangingcustomerneeds,expandingits servicesandearningareputationforexcellence.
Recognizedforitsinnovativeapproachandrolein Qatar’seconomicdevelopment,CBQoffersawide rangeofservices,includingpersonal,business, government,international,andinvestmentservices.The bank'scorevaluesofintegrity,excellence,andcustomer satisfactionensureitscontinuedimportancein advancingfinancialprosperity.
CBQisalsooneofthefewQataribanksthat participatedintheFinancialActionTaskForce’sMutual EvaluationProcessbackin2022,successfullymeeting standardsforAnti-MoneyLaundering(AML)and CounteringtheFinancingofTerrorism(CFT).This demonstratesCBQ'scommitmenttothehighestlevelsof complianceandfinancialintegrity.
AParagonofLeadership
Heexemplifiesmethodicalexcellenceandgoal-oriented leadership.Hisdedication,commitment,andhardwork drivehispursuitofexcellenceanduniqueness, consistentlyupholdinghighstandardsofintegrity, efficiency,andinnovation.
AkeyexampleistheComplianceTransformation Strategy,basedonthe5Csprinciples.Collaborating withtheITteam,AbdulladigitizedFATCA/CRSforms andenhancedsanctionscreeningcapabilities,reducing falsepositivesandimprovingregulatorycomplianceand clientexperience.
Theseachievementsweremadepossiblethrough effectiveteamcollaborationandmeticulousproject management,showcasingAbdulla'smethodicaland goal-orientedmindset.
UsingAnalyticalSkillstoEnhanceComplianceat CBQ
Abdullaexcelsinidentifyingandaddressingcompliance issuesthroughhisanalyticalskills.Usingadata-driven approach,Abdullatackleschallengesbyunderstanding rootcausesandimplementinginnovativesolutions.
Akeyexampleishisleadershipinreducingfalse positivealertsfromAMLmonitoringsystems.By conductingthoroughreviewsandadjustingmonitoring parameters,Abdulla'steamachievedmoreaccurate alerts.Theintegrationoftechnologyandmachine learningfurtherenhancesriskmanagement,confirming highcompliancestandardsatCBQ.
CertifyingTeam
He’spromotingastrong cultureofcomplianceand riskawarenessthrough severalkeystrategies. , ,
Hecertifieshisteamremainscurrentoncybersecurity regulationsanddataprotectionlawsthroughastrong emphasisoncontinuouslearning.Heorganizesregular trainingsessionsandworkshopstoaddressnew regulatoryupdatesandsharesinformationpromptlywith theteam.
Abdullaalsoguaranteesthatpoliciesand proceduresareconsistentlyupdatedtoalign withthelatestregulatoryrequirements. Heencouragesteammembersto pursuerelevantcertificationsand joinprofessionalorganizations likeACAMS,ACSS,and
CFE.Theseinitiativeshelptheteam stayproactiveandwell-informedabout theevolvingregulatorylandscape.
NeglectaCultureofCompliance
,
,
He’spromotingastrongcultureofcomplianceandrisk awarenessthroughseveralkeystrategies.Leadingby example,heprioritizescomplianceinallhisactions, settingastandardforhisteam.
Abdullaboostsopendiscussionsaboutcompliancerisks andraisescollaborationbothwithinhisteamandacross otherunitswithinthebank,reinforcingthe"oneteam, onebank"spirit.Additionally,Abdullaalignshisteam’s KPIswithCBQ’s5Csprinciples,confirmingthat commitmenttocomplianceisintegratedintodaily activitiesandsupportsthebank’slong-termsuccessand reputation.
LeadingDataPrivacyEnhancements
Hehassuccessfullyledapivotalprojectattentivetodata privacy.DespiteCBQ’salreadystrongdataprotection measures,newregulatoryguidelinesnecessitatedfurther improvements.
Abdullaspearheadedaprojecttoreviewandconducta gapanalysisofexistingdataprivacypractices.He organizedbiweeklymeetingswithstakeholderstoensure theprojectremainedontrack.
Theinitiativeresultedinupdatedpoliciesandprotocols, bolsteringdatasecurityandwarrantingcompliancewith thelatestregulatoryguidelines.Thisproject demonstrateshiscommitmenttosafeguardingcustomer dataandmaintainingrobustITgovernance.
MatchingOrganizationalGoalsandCompliance
Abdullaeffectivelybalancesorganizationalobjectives withstrictcompliance.Heintegratescomplianceinto strategicplanning,certifyingalignmentwithbusiness goals.
Throughcollaboratingwithseniormanagementand departments,Abdullaidentifiesobjectivesand compliancerisks.Thisteamworkallowsforstrategies thatmeettargetswhileadheringtoregulations.He prioritizeshigh-riskareasusingarisk-basedapproach forefficientresourceuse.
Hefeaturesstayingupdated withQatarCentralBank guidelinesandcommitting tocontinuouslearning.
EmbracingCBQ’sprincipleof“Compliance,”Abdulla leadsregulartraining,keepstheteamupdatedon regulations,andmaintainsatransparentreporting system,aligningdecisionswithbothgoalsand compliance.
ComplianceCommunication
Heexcelsatcommunicatingcomplexcomplianceissues tonon-technicalstakeholders.Heprioritizes simplification,usingrelatable,everydayexamplesto makeinformationaccessible.
Byputtinghimselfintherecipient'sshoes,Abdulla ensuresthatnon-technicalstakeholdersunderstandthe issueanditsbusinessimpact.Hisapproach,combined withopendiscussions,helpseveryonegrasptherisks andalignoncompliancematters.
ChampioningTechnologyinBankingCompliance
Abdullabelievestechnologyboostscompliancein bankingbyautomatingroutinetasks,monitoring transactionsinrealtime,andanalyzingdatatospotrisks early.Ithelpsbanksstaycurrentwithregulations, improvesduediligence,andkeepsthoroughrecords, makingcompliancemoreefficientandeffective.
LeadingGovernanceEnrichment
WhentheQatarCentralBank(QCB)introduced heightenedcorporategovernanceguidelines,Abdullaled theinitiativetorevamptheCommercialBankofQatar’s governancebasis.Heimplementedstricteroversight, improvedboardreporting,andregularcompliance reviews.Thesechangesnotonlycertifiedcompliance butalsoreinforcedCBQ’scommitmenttotransparency,
ethics,androbustriskmanagement,aligningperfectly withthebank’scorevaluesandgoals.
MensurationComplianceProgramEffectiveness
Abdullaemploysamultifacetedapproachtomeasurethe effectivenessofcomplianceprograms,particularlyinIT andcybersecurity.HemonitorsKPIsandKRIsacross thethreelinesofdefense,focusingonkeyindicatorslike responsetimetoincidentsandthenumberofsecurity breaches.
Regularreviewsbythecomplianceandauditteams, alongwithfeedbackfromthecybersecurityteamand end-users,certifythattheprogramsareeffectiveand adapttonewthreats.
NurturingCollaboration
Abdullaprioritizescollaborationandclear communicationtobuildandmaintainstrong relationshipsbetweenITandcomplianceteams.He holdsregularjointmeetingstoaligngoals,share updates,andaddresschallengescollectively
Bynurturingacultureofmutualrespectandintegrating complianceneedsintoITprocesses,Abdullawarrants seamlesscooperation.Additionally,cross-training sessionshelpbothteamsunderstandeachother’sroles andchallenges,strengtheningtheircollaboration.
StayingInformedonMarketAdvances
Abdullakeepsinformedaboutmarketdevelopmentsand theirimplicationsforcomplianceandriskmanagement byreadingindustryreports,followingQatarCentral Bankupdates,attendingconferences,andjoining professionalnetworks.
Thisapproachhelpshimstayaheadofemergingrisks andregulatorychanges,confirmingthatCBQ’s strategiesremaincurrentandalignedwithmarkettrends andQCBinitiatives.
AdviceforAspirantComplianceProfessionals
Headvisesaspiringcomplianceprofessionalsto thoroughlyunderstandregulatorystandardsandindustry trends.HefeaturesstayingupdatedwithQatarCentral Bankguidelinesandcommittingtocontinuouslearning.
Buildingstrongskillsinriskmanagementandeffective communication,whilealigningeffortswith organizationalcorevalueslikeCBQ’s5Csprinciples, supportsinnovationandexcellence.Abdullaalso reassuresseekingguidancefromsuperiorsandstriving toachievepersonalgoals. CIO
How to Develop a Compliance Program Effectively
Acomplianceprogramis
essentialforanyorganization thatwantstoadoptgoodethics andcomplywithlawsandregulations. Awell-thought-outcompliance programmayservetominimizerisks butalsopromotestheorganizational cultureofintegritytowork responsibly,makingthosekindsof decisionsthatareresponsible, responsibleforthecompanyandvaluebaseddecisions.
Some of the general guiding steps and considerations involved in building a comprehensive compliance framework include:
ComplianceUnderstanding
Atitscore,complianceistheprocess ofensuringanorganizationis complyingwithrelevantlaws, regulations,andinternalpolicies. Theseguidelinesvarygreatly dependingonanorganization's industry,location,andspecific activities.Acomplianceprogramhelps organizationsidentify,manage,and mitigaterisksstemmingfromnoncompliance,importantnotonlyfor legalreasonsbutalsotoretaintrust withcustomers,stakeholders,andthe communityatlarge.
AssessingRisks
Developingacomplianceprogramis furtherenhancedbyassessingrisks. Thismeansidentificationofpotential areaswherecompliancechallenges maybeincurredwithinthe organization.Ingeneral,riskscan comefromdiversifiedsourcessuchas generalfinancialpractices,data protection,employees'behavior,and industry-specificregulations.The analysisprocessshouldengageall sectionsoftheorganizationtobetter understandtherunningofthebusiness.
Theevaluationofprobabilityand impactsoftherisksduringtherisk assessmentwillguideorganizationson wheretofocustheircompliance efforts.Itwillalsohelpdetermine whichareasneedinterventionor policiessetrightaway
EstablishingPoliciesandProcedures
Oncetherisksareidentified,policy andproceduremustbesetupto achievethatrisk.Thepoliciesshould beexplicit,practical,andoriented towardstheorganization'sobjectives. Itsmaingoalsshouldincludeethics; fraudprevention;properworkplace behavior;andsecurity,especiallyof data.
Itisessentialtocreatepoliciesthatare easilyunderstandable.Employees shouldnotfeeloverwhelmedbylegal jargonorcomplexlanguage.Clear guidelineshelpensurethateveryone understandstheirresponsibilitiesand theimportanceofcompliance.
TrainingandCommunication
Trainingisoneoftheessential componentsofaneffectivecompliance program.Employeesshouldbetrained incomplianceexpectationsandthe consequencesofnon-compliance.This trainingprocesscanhelpemployeesto internalizeadherencetopoliciesandto currentknowledgeonregulationsthat aremodifiedovertime,aswellas organizationalpractices.
Additionally,communicationisvital. Themanagementoftheorganization shouldfosteradialogueoncompliance issuesandprovideopen communicationwithoutfearof retaliation.Acultureoftransparency encouragesotheremployeestoadhere tocompliancestandardsaswellasalert otherfolksinadvancetoavoid deterioratingproblems.
AssigningResponsibilities
Aneffectivecomplianceprogram requiresclearrolesand responsibilities.Designatinga complianceofficerorteamisvitalfor overseeingtheimplementationofthe programandensuringitseffectiveness. Suchanindividualorteammustbe well-versedintheareaofcompliance andhavetheauthoritytoenforce policies.
Inadditiontoadedicatedcompliance team,allemployeesmustbeeducated ontheirroleinmaintaining compliance.Thisensuresthatthe organizationbecomesaccountablefor compliance,makingeveryoneliveby thisprinciple.
MonitoringandAuditing
Monitoringandauditingarethereforea prerequisitefortheevaluationofa complianceprogram.Organizationsare requiredtoassess,periodically, whetherpoliciesareindeedbeing followedornot,orifthereisanareaof improvement.Checksarebasedon reviewsofprocesses,interview,and analysisofreportsconcerning compliance.
Auditingalsohelpstoidentifyany weaknessesinthecomplianceprogram andallowsorganizationstomake necessaryadjustments.Itisalsoan opportunitytocelebratesuccessesand recognizeareaswhereemployeesare adheringtocompliancestandards effectively
ReportingMechanisms
Establishingeffectivereporting mechanismsiscrucialforasuccessful complianceprogram.Employees shouldhavemultiplechannelsthrough whichtheycanreportcompliance concernsorviolationssafelyand confidentially Thiscouldinclude anonymousreportinghotlines,online platforms,ordesignatedpersonnel.
Encouragingemployeestoreport issuesnotonlymitigatesrisksbutalso fostersacultureofintegrity Thishelps inbuildingthetrustofemployeesin thecomplianceprogramandthe organizationasawhole,since employeesfeelthattheirconcernsare takenseriouslyandaddressed promptly.
ContinuousImprovement
Acomplianceprogramisaprocessthat requirescontinuousevaluationand improvement.Theregulatory landscapeisconstantlychanging,and organizationsmuststayinformedabout newlawsandregulationsthatmay impacttheiroperations.
Regularlyupdatingpoliciesand trainingprogramsbasedonthese changesisveryvital.
Anothersourceoffeedbackonthe complianceprogramissoliciting feedbackfromemployees.Knowing theirperspectiveontrainingand resourceeffectivenesswillguide improvementstotheprogramtomake itrelevantandeffective.
Creatingacomplianceprogramthatis efficientrequiresmultipledimensions ofhardwork,teamwork,and dedicationtoethicalbehavior.Therisk assessment,clearpolicies,proper training,andopencommunicationall contributetoacultureofcompliance thatbenefitseveryoneinan organization.Periodicmonitoringand ongoingimprovementensurethatthe programadjuststonewcircumstances andremainseffectiveovertime.In conclusion,agoodcompliance programprotectstheorganizationfrom riskswhileatthesametimepromoting itsreputationandtrustamong stakeholders. CIO
Leadership is not about titles, positions, or owcharts. It is about one life inuencing another.
What are the Career Paths for Chief Compliance Officers?
ChiefComplianceOfficershavebecomean
extremelyimportantroleinthecorporate worldtoday.Becauseofthefactthat businessenvironmentsaresubjecttointricaterules andconstantlychanginglandscape,CCOsare increasinglybecomingmandatory.
This article discusses various career options to become a Chief Compliance Officer and has particular emphasis on their role and responsibilities and how they may change in a career stream.
DutiesofaChiefComplianceOfficer
AChiefComplianceOfficerwouldessentiallybe responsibleforensuringthatanyorganization meetsregulatoryrequirements,policies,andethical standards.Thethreesectorswheresuchan individualismostcriticalarethefinance, healthcare,andmanufacturingindustriesdueto strongregulatoryrequirements.CCOsworkon developingcomplianceprogramsdesignedto safeguardtheorganizationagainstaprobablelegal riskaswellasassureintegrityandaccountability.
TheCCOisresponsiblefordevelopingcompliance strategies,makingriskanalyses,andcompliance monitoringreportstotheseniormanagementand boardofdirectors.Additionally,theyalsotrainthe employeestobesensitivetoissuesofcompliance andethicalpractices.
EducationalBackgroundandSkillDevelopment
Essentially,mostjobsarerepresentativeofastrong educationalfoundationblendedwithexperience. Mostchiefcomplianceofficersholdabachelor's degree,whichmaydifferinfieldsthatrangefrom businessadministration,finance,law,orsomething withinitsrelateddisciplines.Manyevenobtain advanceddegrees,suchasanMBAoraJD,which furtherhelpstodivedeeperintoaspectsofbusiness operationandtheirownlegalframeworks.
Relevantprofessionalcertificationsmayalsobe included.Forexample,beingaCertified ComplianceandEthicsProfessional(CCEP)ora CertifiedRegulatoryComplianceManager (CRCM)willmakeoneunderstandmuchmore aboutthesubjectandisofgreatvaluetohiscareer prospects.Riskmanagement,analyticalskills,and
communicationskillsalsoplayavery importantroleincareersuccess.
Entry-LevelPositionLeadingto CCO
AtypicalChiefComplianceOfficer willbeginfromentry-levelpositionsin compliancedepartmentsorrelated fieldsofbusiness.Mostpopular startingpositionswillbelikea complianceanalystorrisk managementassociate.Theseoffer foundationalknowledgeconcerning regulationsandcomplianceprocesses aboutthecompany'sownoperations.
Asoneprogressesinlifeand experience,onemaymoveintomore seniorpositionslikecompliance managerorregulatoryaffairsmanager Atthisstageofthecareer, professionalstakemoreresponsibility toadministercomplianceprojects, developpolicies,andleadteams.The progressivecareerdevelopmentwill havegiventhenecessaryskillsand experienceleadingtoaCCOrole.
LateralMovesandSpecialization
Otherthanastep-by-stepprogression, horizontalmoveswithinthecompany orindustrywouldalsobeextremely beneficial.Transferintoother departmentssuchasthelegal,auditing, oreventheinternalcontrol departmentscanbroadlyexposea persontocompliance-relatedissues thatarenotnecessarilygivenbyastepby-stepcareerpath.Thevarious functionsofanorganizationbetter equipapersonwiththoughtsastohow thevariousdepartmentsinterconnect andcorrelatewithcompliance initiatives.
Otherusefulareasofspecializationare specificareasofcompliance,likedata protection,AML,orhealthcare-specific compliance.Themorespecialization occursintheregulations,theeasieritis foranindividualtospecializeina
nicheareaandbemorevaluabletothe companywhileopeningfurthercareer channels.
NetworkingandProfessional Development
Networkingisamustdoformoving towardsaChiefComplianceOfficer role.Professionalorganizations, industryconferences,andworkshops aresomeofthebestsourcesof informationandcontacts.Networking isasourceofknowledgeaswellasa meansofaccesstoemployment opportunities.
Careeradvancementisalsoguidedby mentorship.Acompliancementorcan givedirection,guidance,andeven insightsonskillsthatwillhelpin achievingsuccessinmorechallenging positions.Amentorcanshare experienceandsupportonethroughthe toughtimesintheroleofcompliance.
ImportanceofContinuousLearning
Giventhedynamicnatureofregulation andstandardsforcompliance,an aspiringChiefComplianceOfficer shouldbeacontinuedstudent.Assuch, currentmarketpractices,regulatory updatesandmodifications,andbest industrypracticesshouldbereviewed periodicallysothatthecompliance programadoptedinanorganization remainseffective.Throughanyoneof thetrainingprograms,subsequent furthercertifications,orself-studying byattendingwebinarsonthistopicand readingpertinentliteratureinthe industrywouldalsosuffice.
Equallyimportantistodevelopthesoft skillsinleadership,negotiation,and conflictresolutionasallinteractionsin thislineofworkarewithadiverse varietyofstakeholdersandonecannot beaneffectiveCCOifheorsheis uncomfortablecommunicatingand leadingteams.
Thesewouldgreatlyenhancethe individual'sabilitytodischargethe compliancerole.
AfteryearsofbeingaChief ComplianceOfficer,many opportunitieslieinbeingplacedat higherlevels.TheChiefCompliance Officercanbeelevatedintoevenmore generalexecutiverolesoreventothe levelofChiefExecutiveOfficer.Most oftheskillslearnedfromthese compliancefunctionstranslatewellto thosefunctions,suchasstrategic thinking,riskmanagement,andethical leadership.
TherestoftheCCOsgotoconsulting. Thisisbecausetheyknowthe complianceindepth.Theyare, thereforeinagoodpositionto illuminatequiteafeworganizationson howtocreatepracticalcompliance programs.
Conclusion
AcareerasaChiefComplianceOfficer isbroadandpromisingtosomeone whofindsaninterestwherebusiness andthelawoverlap.Peoplebecome complianceleadersbymovingfrom entry-levelworkandservingthrough inexperiencerelevanttotheposition andacquiredskillsandexposure.
Tothatend,one'sroutetoadvancing qualificationsaswellaspreparationfor tacklingthechallengesofcompliance leadershipgoesalongway,including lateralmovements,specialization,or furthereducation.TheroleofaChief ComplianceOfficerwilldefinitely remainoneoftheverychallengingand worthwhilecareersinthisagewhere thereisanever-growingneedfor compliance. CIO
Navigating Global Compliance with Cultural Acumen
Strategic Leadership in Global Trade and Approach to Multicultural Challenges in Business!
Managingthecomplexsectorofglobalbusiness
complianceposesaformidablechallengefor manyorganizations.Asregulationsevolveand thedigitallandscapeexpands,companiesriskfallingbehind iftheyfailtoadapt.MeetSelinVural,theGlobalHeadof ComplianceatDorschGlobal,whoseuniqueblendof architecturalinsightandbusinessstrategyisredefininghow organizationsapproachcomplianceinanincreasingly intricateworld.
Withover22yearsofexperience,Selinisnotjusta complianceexpert;sheisavisionaryarchitectofinnovative
solutions.ArmedwithanMBAandprojectmanagement credentials,sheseamlesslyintegratestechnicaldesign expertisewithstrategicbusinessacumen.
HerroleatDorschGlobal,aprominentGermanholding companyoperatinginover50countries,placesheratthe forefrontofcorporategovernanceandriskmanagement, wheresheimplementsrobustenterprisePMOsthatensure compliancewhilefosteringinnovation.
Selin’sinfluenceextendsbeyondhercorporaterole.Asa mentorandadvisoryboardmemberforvariousgovernment organizations,shechampionstheethicalgovernanceof artificialintelligence,ensuringthattechnological advancementsalignwithregulatorystandards.Her commitmenttonurturinginnovationanddeveloping exponentialstrategiesforbothstartupsandestablished businessessetsherapartasathoughtleaderinthefield.
Selin’s path to becoming a Chief Compliance Officer has been shaped by a diverse set of experiences and a deep commitment to ensuring that business growth aligns with regulatory standards, par cularly in a mul cultural, mul -industry environment spanning different regions.
Let’s know more about her journey:
Couldyoupleasebrieflyintroduceyourcompanyand itsinceptionstory?
DorschGlobalisrecognizedasaleadingconsultingand engineeringcompanyprovidingsustainableinfrastructure solutionsforpresentandfuturegenerations.Asasubsidiary ofRSBGSE,aholdingcompanyoftheRAG-Stiftung,the companycontributestothenoblepurposeofthe foundation.Thispurposeistofundtheperpetual obligationsfromGermanhardcoalminingandthe protectionofanintactenvironment.
Addressingtheinfrastructuralandsocialchallengesofa dynamicworld,thecorebusinessareasofDorschGlobal
aretransportationinfrastructure, water&environment,innovative planning,architecture&urban development,energy&industry,and developmentcooperation.
Withateamofapproximately7,200 employeesinmorethan50countries, DorschGlobaliscurrently supportingmorethan12,000projects inalllifecycles;responsibletowards peopleandnature,withregionally rootedexpertisethatstemsfrom morethan70yearsofcompany history.In2023,DorschGlobal designedandmanagedprojectswith avalueofover30billionEuros.
Canyoutellusaboutyourjourney tobecomeaChiefCompliance Officer?Whatmotivatedyouto pursuethiscareerpath?
Myjourneytobecominga ComplianceOfficerhasbeenshaped byadiversesetofexperiencesanda deepcommitmenttoensuringthat businessgrowthisbothstrategicand compliantwithregulatorystandards, especiallyinamulticultural,multiindustryenvironmentwhere operationsspanacrossdifferent regions.
Selin Vural Global Head of Compliance
Dorsch Global
Startingasanarchitect,Idevelopeda meticulousattentiontodetailanda strongunderstandingofhowcriticalitistoadheretostrict guidelinesandstandardsineveryproject.Mytransitioninto aPMOrolefurtherhonedmyabilitytomanagecomplex projects,wherecompliancewithtimelines,budgets,and regulationswasparamounttoachievingsuccess.
PursuinganMBAexpandedmyperspectiveonbusiness strategy,riskmanagement,andthecriticalimportanceof aligningorganizationalobjectiveswithregulatory requirements.Inagloballandscape,wherebusinessesmust navigatediverselegalandculturalenvironments,itis essentialforcompaniestohaveaunifiedunderstandingof doingbusinesstomaintainaconsistentvoiceof compliance.
Selin ensures that data-driven insights are integral to the decisionmaking process, enhancing compliance efforts and proac vely addressing poten al issues across all regions and opera ons.
MymotivationtopursuetheroleofGlobalCompliance Officerstemmedfromadesiretoleveragethisunique combinationofskills,technicalprecision,project managementexpertise,andstrategicbusinessinsight,to drivesuccesswhileensuringthateveryaspectofthe businessoperateswithinlegalandethicalboundaries.Iam passionateabouttheroleofcomplianceinfostering sustainablegrowth,andIamcommittedtoleadingteamsin awaythatnotonlyachievesobjectivesbutalsoupholdsthe higheststandardsofintegrityandregulatoryadherence acrossdiversemarkets,ensuringthatthecompanyspeaks withonevoice,nomatterwhereitoperates.
Howdoyouapproachbuildingandmaintaining relationshipswithkeystakeholderswithinandoutside theorganization?
AsaGlobalComplianceOfficer,Iprioritizebuildingand maintainingstrongrelationshipswithkeystakeholdersby fosteringopencommunication,transparency,andtrust.I engageregularlywithinternalandexternalpartnersto understandtheirneedsandconcerns,ensuringthat compliancestrategiesalignwithbroaderorganizational goals.
Ialsoemphasizetheimportanceofcollaboration,actively seekinginputandfeedbacktoaddresschallengesand implementeffectivesolutions.Bymaintainingconsistent, clear,andrespectfulinteractions,Icreateafoundationof mutualrespectthatsupportslong-termpartnershipsand effectivecompliancemanagementacrosstheorganization.
Whatisyourleadershipstyle,andhowdoyouadaptit todifferentteamdynamics?
Myleadershipstyleiscollaborativeandadaptable,focused onempoweringmyteamwhileprovidingclearguidance andsupport.Ibelieveinleadingbyexample,fosteringan environmentofmutualrespectandopencommunication.
Dependingontheteamdynamics,Iadjustmy approach—whetherit'sbeingmorehands-onwithteams thatrequireclosedirectionorgivingmoreautonomyto experiencedandself-driventeams.
Iemphasizetheimportanceofcontinuouslearning, encouragingmyteammemberstodeveloptheirskillsand takeownershipoftheirwork.Byremainingflexibleand responsivetotheuniqueneedsofeachteam,Iensurethat weworktogethereffectivelytoachieveourgoals.
Canyoushareanexampleofasuccessfulinitiativeyou ledthatsignificantlyimprovedemployeeengagement?
OnesuccessfulinitiativeIledtosignificantlyenhance employeeengagementwastheimplementationofa comprehensivecomplianceawarenessprogramacrossour globaloperations.
Recognizingtheimportanceofmakingcomplianceboth relatableandengagingforemployees,Iintroducedaseries ofinteractiveworkshopsande-learningmodulestailoredto thespecificculturalandregulatorycontextsofeachregion.
Additionally,Icontinuouslystayupdatedontechnological advancementsandintegrateinnovativesolutionsintoour company-widecomplianceframework.Forinstance,I introducedasoftwareplatformthatenablesrelated departmentstoconductbusinesspartnerduediligencewith 100%accuracyandperformriskmanagementbasedon preciseinformation.
Selin advises to focus on developing strong stakeholder management skills, cultural understanding, regulatory exper se, and technological awareness.
Howdoyouprioritizecompetingdemandsandprojects withinyourrole?
InmyroleasGlobalHeadofCompliance,Iprioritize competingdemandsandprojectsbyfirstassessingthelevel ofriskandimpactassociatedwitheachtask.Ifocuson projectsthathavethehighestpotentialtoaffectthe organization'scompliancepostureandlegalstanding.Ialso considertheurgencyofregulatorydeadlinesandthe strategicimportanceofeachprojecttothebusiness.
Effectiveprioritizationinvolvesclearcommunicationwith stakeholderstounderstandtheirexpectationsandaligning projecttimelineswiththeorganization’soverallgoals.Iuse astructuredapproach,suchasaprioritymatrix,toensure thatmyteamandIallocateresourcesefficientlyandaddress themostcriticalissuesfirst.
Additionally,Iregularlyreviewandadjustprioritiesasnew informationemerges,ensuringweremainagileand responsivetochangingcircumstances.Thisdisciplined approachallowsmetomanagemultipleprojectseffectively whilemaintainingtheintegrityandeffectivenessofour complianceefforts.
Howdoyoumeasuresuccessinyourrole,andwhatkey performanceindicatorsdoyoufocuson?
InmyroleasGlobalHeadofCompliance,Imeasure successbyfocusingonkeyperformanceindicatorssuchas thereductionofcomplianceincidents,positiveregulatory auditoutcomes,andhighemployeeengagementin compliancetraining.Ialsoprioritizethetimelinessof compliancereportingandtheeffectiveintegrationofnew regulationsintoourexistingframeworks.
TheseKPIsensurethatourcomplianceprogramnotonly meetsregulatorystandardsbutalsoactivelysupportsthe organization'sbroaderobjectivesbymanagingrisksand fosteringastrongcultureofcompliance.
Whatadvicewouldyougivetosomeoneaspiringto becomeaChiefComplianceOfficer?
ForthoseaspiringtobecomeaComplianceOfficer,my adviceistofocusonafewkeyareasthatareessentialfor successinthisrole.First,developstrongstakeholder managementskills.Buildingandmaintainingrelationships withinternalandexternalpartnersiscrucial,aseffective compliancereliesoncollaborationandmutual understanding.
Culturalunderstandingisanothercriticalarea,especiallyif you’reworkingonaglobalscale.Beingawareofand sensitivetoculturaldifferenceswillallowyoutoimplement complianceprogramsthatarebotheffectiveandrespectful oflocalpractices.
Strongregulatoryknowledgeisthebackboneofany compliancerole.Stayinformedaboutrelevantregulations inyourindustry,andcontinuouslyupdateyourknowledge aslawsevolve.Thiswillensurethatyourcompliance strategiesarebothcurrentandeffective.
Finally,stayaheadoftechnologicaladvancements, particularlyinareaslikeAI,andunderstandtheirregulatory implications.Embracingthesetechnologiescanenhance yourcomplianceefforts,butit’sessentialtoremain compliantwithemerginglawsandstandards.
Byfocusingontheseareas,stakeholdermanagement, culturalunderstanding,regulatoryexpertise,and technologicalawareness,you’llbewell-preparedtoexcelas aComplianceOfficerinacomplexandever-changing environment.
,, ,, Success is not the key to happiness. Happiness is the key to success. Ifyou love whatyou are doingy , ou wi be successful.
- Epictetus
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