Not many people have heard of a compliance officer, including myself. You\'re not alone. People assume that titles are self-explanatory. Most of them are but some are not.
A compliance officer puts programs in place to prevent fraud, which sounds logical enough. He also finds and fixes problems by using tools like audits and other things. If a compliance officer finds a problem, he fixes it to the best of his or her ability. However, fixes can be quick and some may not be, since some take paperwork and lots of phone calls to accomplish.
There are a few myths about compliance officers and they are generally misunderstood. The general public thinks that they just make up rules whenever they feel like it and that they are just out to \'punish\' the average person if they don\'t live up to their rules. This couldn\'t be further from the truth. The compliance officer is just there to make sure the rules and regulations that the company has are followed correctly.
Harlene L. Morrison is a Managing Director and a General Code Compliance Officer of Hall Partners, LLC. She is part of a General Counsel and a member of the Executive Committee. Before she joined the firm in 2007, she was leading the San Francisco Office of the U.S. Securities and Exchange Commission from 1999-2007. At her previous job, she was responsible for litigation, enforcing securities, and regulatory matters.
She is also a member of the Board of the Regional Parks Foundation. She is also a member of the Hedge Fund Subcommittee of the American Bar Association. Helane is a periodic speaker on the topics of compliance and legal issues affecting investment advisors and private funds.
Check out Helane Morrison on LinkedIn.