When it comes to regulatory compliance, firms often focus on systems, frameworks and technology. While these tools are essential for managing complexity, it is important not to overlook the single most critical factor in any compliance programme: people.
Compliance is not just a box-ticking exercise or a set of policies; it is a culture. Regulators have made it clear that governance and accountability sit at the heart of effective compliance. That means the individuals within your firm, how they act, what they understand and how they uphold responsibilities, are as important as the processes and platforms that support them.
Why People Matter in Compliance
- Decision-Making and Accountability
Rules and systems can guide actions, but accountability rests with people. Whether under SMCR in the UK or equivalent regimes globally, individuals are expected to take ownership of compliance outcomes. - Judgement and Integrity
Automated tools can flag risks, but they cannot replace human judgement. Ethical decision-making, professional scepticism and integrity are all human qualities that regulators expect firms to foster. - Culture and Communication
A strong compliance culture requires effective communication across the business. When staff understand not just the “what” but also the “why” of compliance, adherence becomes embedded rather than imposed.
Technology as an Enabler, Not a Replacement
Platforms like ComplyPortal are designed to make compliance more efficient, transparent and robust. But even the smartest technology is only as effective as the people using it.
- Oversight tools empower compliance officers to monitor activities, but it is their expertise that interprets outcomes.
- Registers and workflows create clarity, but they rely on accurate inputs from staff.
- eLearning and monitoring modules improve knowledge, but leadership must champion their importance.
Technology should therefore be seen as an enabler, freeing people from repetitive tasks so they can focus on applying their professional skills where they matter most.
Building a People-First Compliance Culture
To strengthen the human element of compliance, firms should:
- Promote accountability: Ensure responsibilities are clearly defined and communicated.
- Invest in training: Regular learning opportunities help keep knowledge fresh and relevant.
- Encourage openness: Staff should feel comfortable raising concerns without fear of reprisal.
- Leverage tools: Use platforms like ComplyPortal to streamline processes and give people the visibility they need.
Conclusion
Compliance frameworks, registers and monitoring systems provide the structure for good governance. But it is people who bring these frameworks to life. By combining a strong compliance culture with the right technology, firms can build programmes that are not only effective but also resilient.
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