Tracey Calvert reflects on what is needed for harmony between a compliance team and the wider firm.
Compliance has been one of the major areas of growth within the legal profession in recent years, particularly throughout the covid-19 pandemic. Firms now hire compliance specialists to provide support to their compliance officers, the owners and employees in the firm. However, simply having a compliance team is not enough. The function and the role-holders need to be effective.
In order to be effective, a firm’s compliance team must complement the business in which it operates. This, in turn, requires everyone in the business to work in a supportive manner with the compliance team rather than fighting against them or not involving them in decision-making. Easy for me to say! How is this achieved in practice?
My r...
“…the role of the compliance team is to facilitate the right behaviours within the firm which make this longevity achievable.”
