How can a modern compliance professional stay ahead of the knowledge curve and advance their career without falling behind in their day-to-day responsibilities?
There is a knowledge gap among compliance professionals, and it’s not due to a lack of information. In fact, the main culprit may be too much information located in too many disparate places. Our industry is continuously changing. Recent political events around the world only serve to magnify the uncertainty and make it difficult to keep up with the demands this job places on those who choose it.
In their 2016 Cost of Compliance report, Thomson Reuters echoes this concern. The report states:
“One of the main challenges firms face is the continued scarcity of skilled compliance personnel, forcing firms to do more with less and putting a focus on the development of existing staff.”
All of this begs the question: how can a modern compliance professional stay ahead of the knowledge curve and advance their career without falling behind in their day-to-day responsibilities?
This question intrigued us here at NAVEX Global enough to warrant some research of our own. Over the last 18 months we’ve asked thousands of compliance professionals about what it takes to stay adequately informed and how they learn what’s needed to keep moving ahead. We heard two things: it requires a lot of effort, and it’s more difficult than it should be.
In a recent survey conducted among compliance professionals in the U.S. and Europe, more than two thirds (68%) said they do not have a preferred, go-to information resource for career advancement and direction. When asked about the quality of career-accelerating ideas and guidance available online, more than 40 percent said they are not very satisfied with what they find. Another 15 percent said they do not even bother to look for career advancement information online. A deeper investigation of this issue reveals that while there is a wealth of E&C-related information out there, it is spread out across dozens of media websites, blogs, association portals and various other locations – many of which restrict access – and offer little in the way of practical advice about excelling at your job. This is a problem for our profession. So we decided to do something about it. We created Compliance Next.
Rapidly growing risk and board-level visibility means E&C executives must rise to new levels of execution.
Compliance Next is both an online membership community and state of mind for innovative compliance professionals. The site is equal parts library, tool box and peer-to-peer sharing network. It’s a place where E&C executives, managers and those just starting their careers can network with peers, share best practices and learn from experts about what’s next in compliance and how they can be even more effective in their jobs. Content developed for Compliance Next includes practical how-to video tutorials, advice from experts, white papers, sample policies as well as tools and templates designed for immediate use.
And while NAVEX Global is the principal sponsor of Compliance Next, we are only one of many partners who support the site. Other participating sponsors include Baker & McKenzie law firm, the Association of Corporate Counsel, the Society for Human Resource Management, CREATe.org. and American Hospital Association to name a few.
At NAVEX Global, we believe compliance industry leaders must invest in ways to help the profession meet the new demands of running complex global programs successfully and sustainably. Rapidly growing risk and board-level visibility means E&C executives must rise to new levels of execution. Compliance Next is all about helping modern compliance professionals meet this challenge.