Articles
The power of trustworthy relationships
October 3, 2024
Building trustworthy relationships is a cornerstone of success for regulatory compliance professionals, particularly when working with operations, maintenance, engineering, and other key departments. These relationships are not just beneficial; they are essential for creating a culture of compliance and ensuring the smooth implementation of regulatory requirements across an organization.
The power of relationship building
As a regulatory compliance professional, the biggest reason I've achieved success in my career is because I consistently dedicated time each day to nurture relationships with colleagues across various departments. This intentional effort has paid dividends in ways that extend far beyond mere professional courtesy.
Benefits of Strong Relationships
Enhanced communication
Having strong relationships with operations, maintenance, and engineering teams, compliance professionals can:
- Facilitate open and honest dialogue about compliance challenges
- Gain deeper insights into day-to-day operational realities
- Ensure compliance requirements are communicated effectively and understood clearly
Increased cooperation
When trust is established, departments are more likely to:
- Proactively seek compliance advice before making decisions
- Share potential compliance issues without fear of repercussion
- Collaborate on finding practical solutions to regulatory challenges
Improved implementation
Strong relationships lead to:
- Smoother rollout of new compliance initiatives
- Greater buy-in from affected departments
- More effective and sustainable compliance practices
Strategies for Building Relationships
Dedicate daily time
Set aside time each day specifically for relationship building. This could involve:
- Brief check-ins with key personnel
- Informal conversations over coffee
- Attending departmental meetings to understand their challenges
Show genuine interest
Take the time to understand the roles, challenges, and goals of other departments. This demonstrates that compliance is not just about rules, but about supporting the organization's overall success.
Offer value
Look for ways to make other departments' jobs easier through your compliance expertise. This could include:
- Providing training tailored to specific departmental needs
- Offering compliance-related insights that could improve processes
- Helping to streamline compliance-related tasks
Be approachable and responsive
Ensure that colleagues feel comfortable approaching you with questions or concerns. Respond promptly and helpfully to build trust and reliability.
The impact on compliance effectiveness
By investing in these relationships, compliance professionals can:
1. Gain early awareness of potential compliance issues
2. Develop more practical and effective compliance solutions
3. Achieve higher rates of compliance across the organization
4. Foster a culture where compliance is seen as a shared responsibility
The importance of building trustworthy relationships as a regulatory compliance professional cannot be overstated. It's not just about enforcing rules; it's about creating partnerships that make compliance an integral part of organizational success. By dedicating time each day to nurture these relationships, compliance professionals can significantly enhance their effectiveness and value to the organization.
Remember, compliance is not just a department; it's a collaborative effort that thrives on strong, trust-based relationships across all levels of the organization. Investing in these relationships is not just a nice-to-have; it's a critical component of successful compliance management and career advancement in the field.
Citations:
[1] https://www.auditboard.com/blog/creating-a-positive-relationship-with-your-compliance-stakeholders/
[2] https://www.philvenables.com/post/regulatory-relationships
[3] https://www.nordcheck.com/relationship-between-compliance-professionals-and-business-teams/
[4] https://www.forbes.com/sites/katevitasek/2024/03/20/why-compliance-is-important-for-building-and-maintaining-strong-business-partnerships/
[5] https://www.metricstream.com/insights/nurture-relationship-with-regulators-four-steps.htm
[6] https://corpgov.law.harvard.edu/2015/10/22/building-effective-relationships-with-regulators/
[7] https://www.swca.com/news/2016/09/an-ounce-of-prevention-swppp-and-spcc-plans-explained
[8] https://www.rmagreen.com/rma-blog/what-is-an-spcc-plan