Parting Shots at 2010

Posted by Anthony Demangone

NAFCU's offices are closed tomorrow, so this is my last chance to climb my personal soapbox in 2010 to preach.  As we look back on 2010 and look forward to 2011, here are a few thoughts. 

Who da man?  You be da man!  Always strive to increase your knowledge and to be as self-sufficient as possible.  My sincere hope as NAFCU's Director of Regulatory Compliance is that some day, none of you will need me.  Sure, we pass along compliance information, but I hope you see that we try to share out tips, resources and ideas so that you can become your own Compliance Guru.  I truly believe that the best compliance officers are those who take ownership of the responsibility of the position.  These compliance officers reach out to us for help from time to time, but their work product is theirs.  Their research is theirs.  And their conclusions are theirs alone.  Use us,  and other third parties, to leverage your own efforts. But never become completely dependent on some outside entity for your knowledge or analysis. 

Pat yourself on the back.  Your job is tough. But it is important.  Some folks may not like to hear this, but life has rules.  And those rules must be followed.  You keep your credit union on the straight and narrow path.  Our line of work is not easy, but it is rewarding.  

Embrace change. When is it going to slow down for me?  Perhaps in 2033, when I retire.  You'll then find me somewhere along the Appalachian Trail or working some counter with my wife in a National Park. Until then, I expect a constant stream of curve balls from NCUA, the Fed, the CFPB and others.  The more you can embrace change and manage it, the better (and likely happier) you'll be.

Organize your knowledge.  Knowledge is the name of our game.  You need to come up with a system to manage information.  You need to manage the new information that comes in, and you need to manage the information you've already amassed.  There's no silver bullet to solve this issue.  You'll have to come up with your own system.  But think about this: Is there something that you need that you currently don't have?  If the answer is yes, ask for that thing - whatever it is.  It could be a manual, newsletter, training course, or conference.  But if it helps you increase and/or manage your knowledge base, you should make a business case for why you need it. 

If you embrace these ideas, you'll be ready for whatever 2011 brings.  Or 2012, or 2020.  You'll be a better compliance officer.  And I bet you'll be a happier compliance officer as well.  

With that, it has been a pleasure working with you all in 2010.  Here's hoping your 2011 is filled with health and success.  And occasional periods of calm.

Comments

[Brian King]

Happy New Year, and I really look forward to reading your blog in 2011.

[Anita Mugg]

Thanks, Andy for helping us through 2010. Happy New Year to you and your family.

[Carol]

Thank you for all the help and information! You are the best. Happy New Year to you and your family!