THE COMPLIANCE OFFICER - BIGGEST BADASS IN THE BUILDING

Commodities Compliance Officer

E1vis.Eth

1/13/20231 min read

The Compliance Officer in a Trading environment needs to be the most respected and feared individual walking the floors of Front, Middle, and Back officers across industries.

The role and responsibilities that sit on their shoulders are enormous. Especially when they miss something or when more often than not, their presence saves the company from any legal or financial repercussions.

Like the 'Head of Tax' and the Head of Audit ', the Compliance Officer is one the most important and underrated roles within our field

In the commodities industry, there are strict regulations in place that govern how companies can operate and do business. Failure to comply with these regulations can result in significant fines, legal action, and even the loss of a company's license to operate, which is why the compliance officers within the commodities industry are FIRST CLASS.

So what makes a solid Compliance officer?

  • Strong Character. - Personality is so important in this role, especially when there are times when they would have to confront the strongest of personalities in the highest of positions in a company. Hence solid, Strong leadership skills.

  • Ethical behavior. - An individual committed to upholding the highest standards of integrity and professionalism. This individual can make difficult decisions fairly and transparently and resist pressure to compromise the company's compliance efforts.

  • Excellent communication skills. - How they communicate internally is how they will represent the firm externally, be mindful of that.

  • Attention to Detail. - The internal Police need to be able to identify holes in policies, processes, and procedures and spot inconsistencies, errors, or other red flags that could indicate a compliance issue.

  • Knowledge. - Of relevant laws, regulations, and industry standards. Everyone gains respect quicker than someone who hasn't versed themselves in the business at hand, especially understanding the laws, regulations, and industry standards that apply to the company and its operations, including knowledge of relevant federal and state laws, as well as industry-specific rules and guidelines.

    While more and more Compliance Consultancy Firms are operating than ever, nothing is more reassuring than having in-house representation.

    If you think Compliance is expensive, wait until you experience NON-COMPLIANCE.