Share these talks and lectures with your colleagues
Invite colleaguesPractice paper
The compliance and ethics officer of the future: What skills are necessary?
Journal of Financial Compliance,
3
(3),
255-261
(2020)
Abstract
This paper discusses the attributes of and the skills necessary to achieve an effective compliance and ethics programme. In doing so, it explores how and some of the reasons why the role of compliance has evolved over the past 20 years and how the role of a Compliance and Ethics Officer has expanded from being a knowledgeable, technical expert over legal and regulatory requirements to leading a corporate-wide programme containing several disciplines. The paper may help regulatory and supervisory agencies guide the institutions they supervise to understand the valuable role and appropriate organisational position of Compliance and Ethics Officers to encourage a full seat at the executive table. It may also help institutions of higher education develop curricula to help better prepare the Compliance and Ethics Officers of the future.
Keywords: compliance and ethics programme elements; skills needed for compliance and ethics programme; leadership skills; importance of communicating inspiring messages
The full article is available to subscribers to the journal.
Author's Biography
John Krenitsky has been the Chief Compliance Officer (CCO) of The Federal Home Loan Mortgage Corporation (‘Freddie Mac’) since 1st June, 2018. As CCO, John oversees and provides board-level reporting on Freddie Mac’s Compliance & Ethics Programme. John joined Freddie Mac after having acquired over two decades of experience in legal and compliance leadership roles in the financial services industry. He served as the Chief Compliance and Ethics Officer at Three of the top 25 US bank and bank holding companies including Discover Financial Services, BancWest Corporation and Bank of the West (US subsidiaries of BNP Paribas) and M&T Bank Corporation. Prior to that, John served as Deputy General Counsel for M&T Bank Corporation and practiced as a commercial litigation attorney with Hodgson Russ in Buffalo, New York, where he primarily represented banks and commercial creditors. John is a graduate of Hamilton College and the State University of New York at Buffalo Law School.
