FORMER MILITARY ARE A VALUABLE ASSET IN ANY COMPLIANCE DEPARTMENT

We have made no secret of our preference for attorneys as compliance directors; the benefits of a legal education, as well as their development of issue perception make them effective leaders, which is essential in any compliance department. The fact that many large financial institutions have lawyers at the helm of their compliance divisions would seem to confirm that many bank executives share my vision.

Now, as to who makes the best frontline compliance officer remains an open debate, but as problem solving ability under time constraints is one of the qualifications I believe most critical, let me suggest that there is a specific category of applicants which compliance departments should always consider when seeking to expand their staff: individuals who are former military. You probably know of a few compliance officers with that background, and this might be a good time to consider why they are consistently successful in our chosen field.

1.TRAINING: The military, whether it be military intelligence, military police, or other branches, extensively schools its members in investigative techniques, awareness of potential resources, networking with others in the field, and a host of other subjects, in depth, all of which give them a perspective on approach to tasks that one rarely sees in the civilian field, other than in experienced compliance officers, Your civilian applicants generally have no equivalent experience. Service schools are often several months in length, and demand results from their students. 

2. DISCIPLINE: Rather than"check the box," the military approach to problem solving is mission-oriented, not clock punching. The military trains its people to stick to their tasks until they have been accomplished, and not to render excuses for the inability to succeed. Former military have had this can-do attitude instilled in them over a period of their service, which  has created work habits which will serve them in good stead in the civilian sector. Call it self-discipline if you must.

3. ATTITUDE: Spend a couple of years aways from your comfort zone, in a faraway location, under sometimes difficult and stressful conditions, and individuals in the military develop positive, no-nonsense attitudes about work that are instilled in them as a culture, which they bring to the civilian workplace. They also become ideal team members, as they understand the concept through working together to achieve goals, and have gone the extra mile, including after hours, to get the job done. 

Therefore, when you see that an applicant for an entry-level compliance position is former military, regard that as a valuable quality as important as prior experience in the financial field, for this individual brings to the job attributes that you want in a compliance officer. They can get the job done.