Effective Communication With The Firm

The session started off with a few polls to explore how compliance teams communicate with the rest of the firm and if the number of queries impacts the ability to complete tasks. One of the points discussed was about how much value a query may hold. As the firm may suddenly realise the business as a whole don’t understand, a certain process or some rules/regulations that may have changed. For example a department may have a query and the compliance team may respond in a way where they are able to resolve an issue for the business, this would allow people to see the value, compliance, are bringing to the firm and enable a strong relationship. 

Good communication also enables the compliance team to embed the positive culture of compliance needed to get people thinking about their own decisions and behaviours. Through positive communication, the compliance team can effectively promote compliance and the benefit compliance brings to the business. If you want someone to approach you in relation to a compliance concern or query, then you have to promote approach-ability, give colleagues a reason to approach you. It is a hallmark of trust.  If people know they can count on you to communicate well, to articulate thoughts in ways that are understandable to any listener, then people will see you.

So how can you elevate your compliance communications? Here are some tips!
  •  Use multiple communication channels to ensure key messages are received by the business.
  • Communicate regularly about compliance requirements and updates.
  • Visit in person. Know when to write, call, or visit.  If you’re having trouble picking just the right words or phrases to use and to avoid misunderstandings, step away from the computer and go talk to them in person or on the phone.
  • Have an easy to read documentation/FAQ’s on common queries or new processes that are in easy access or reach. 

Here are some great sources you can read about the importance of communication.

 FCA Behaviour & Compliance in Organisations

Book by Cal Newport – Deep Work

If you have any questions about staff training or would like to be in the sessions, get in touch with us hello@e3ct.com

Say Hello!
Say Hello!
Let's talk CRUX
Let's talk CRUX