By Adam Turteltaub
Shawn DeGroot is not a big fan of waiting for the regulators to knock. Instead, she advises compliance officers to reach out to regulators proactively, even before anything goes wrong. By establishing a relationship with the regulator, she explains, you can build trust and have a resource when you need one.
In this podcast she explains:
- The benefits of having a relationship with the regulators
- The need to remember that regulators are human and have a job to do
- The importance of honesty and transparency
- How you communicate can be especially important
- What to do after a conversation that went wrong
Listen in before you reach out to your regulator, whether for the first time or the umpteenth time.