Compliance field is new and not well known. Roy Snell give a clear meaning of what a field officer does. He says that a compliance field officer implements a program to prevent, find and fix regulatory and ethical issues using the normal tools of auditing, investigation, education and risk assessment. When a problem is identified, mitigation procedures are effected and disciplinary measures implemented to the delinquents.
Snell notes that the profession has been on the raise in the last 20 years to having tens of thousands of compliance officers. The field is projected to grow even more as more and more federal and state rules and regulations on businesses keep coming up. Snell said that people who become compliance officers had technical and people skills plus the ability to influence the company’s leadership.
Helane Morrison is a Managing Director, General Counsel and Chief Compliance Officer at one of the largest investment advisory firm in San Francisco, Hall Capital Partners LLC. She is an excellent example of a smart and diligent compliance officer with a vision. Morrison is also a member of the firm’s Executive Committee. Ms. Morrison’s mission is to establish accountability, regulatory and integrity compliance in all investment dealings that the clients undertake.
Before joining Hall Capital Partners LLC, Helane was the Head of San Francisco Office of the U.S. Securities and Exchange Commission from 1999 to 2007 (“SEC”). She was responsible for securities enforcement, regulatory matters and litigation in Northern California. She represented SEC in legal, government agencies, news media, business, and financial communities.
In 1986-1996, Helane Morrison practiced law at the San Francisco Law firm Howard, Rice, Canady, Nemerovski, Falk, and Rabkin. In these years, she was focused on business litigation and defense of private securities actions and SEC matters. Morrison is a member of the Board of the Regional Parks Foundation and Hedge Fund Subcommittee of the American Bar Association. She is also a speaker from time to time on topics of compliance and legal issues that arise in investment advisers and private funds. Morrison holds a degree in Journalism from Northwestern University and a J.D. from the University of California at Berkeley, School of Law.
Snell says that in today’s world compliance officers are paramount to multinationals to handle cultural differences and language differences in many countries. A compliance profession is not only growing domestically but also internationally. The professional organization has about 1000 members outside the United States and from 75 countries.