Compliance & Conduct: the most interesting department in the bank

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"In 2015, everybody will want to be a Compliance Officer," predicted Van Beusekom and Raaijmakers in 2010 in Tijdschrift voor Compliance, a compliance journal. The authors envisaged a role for the Compliance Officer as protector of a company’s value creation and identity. They believed that this role would make the position so attractive that Compliance Officer would become one of the most popular jobs in 2015. How does Deborah ter Beek, Senior Compliance & Conduct Advisor at ABN AMRO, view this prediction? interviewed her.

“The banking sector was already strictly regulated, and that has only increased in recent years. The introduction of new legislation and regulations – like Basel III, EMIR, AIFMD, the European privacy directive, rules for preventing money laundering and terrorism financing, the Bonus Prohibition Act and the Banker’s Oath – has put us in a key position in the bank. Global, European and national legislators and regulators have created a highly dynamic environment, which I believe makes Compliance & Conduct one of the most interesting departments in the bank. Since 4 November 2014 the ECB has been ABN AMRO’s supervisor, as part of a joint supervisory team with members of many nationalities and in collaboration with De Nederlandsche Bank. With all of these developments, Compliance & Conduct is right at the heart of the organisation!”


“The field has moved from incident-driven to proactive, and from enforcement-based to behaviour-based. And the main theme nowadays is client centricity. At ABN AMRO, we engage in an active dialogue with the businesses. Our goal is to inject compliance into the DNA of every employee – to make compliance part of the culture. To achieve that, we are doing our best to raise awareness. We are organising workshops to make the goal underlying the rules more tangible, we teach training courses, for example about dealing with integrity issues, and we advise management – solicited and unsolicited.

That makes the role of Compliance Officer at ABN AMRO an attractive one. You perform risk assessments and maintain an open and constructive relationship with the supervisory authorities. In short, it’s a great job where you experience the dynamics of a changing environment every day and can make a big contribution to restoring trust – a crucial job in the wake of the financial crisis."


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