ICQ Log - Angela Rumley

The Impact of the Compliance Institute
on the Development of the Compliance Profession in Ireland

 

Last Updated:  08 June 2022 

Twenty years ago the precursor to the Compliance Institute/ACOI was founded in order to support Compliance Officers.

The new Association had ambitions to provide opportunities for Compliance Officers to network and to learn and develop in their careers. It sought to cater for Compliance Officers working in all areas of financial services, working in organisations large or small and those who had a desire to work in compliance. It also sought to ensure that the role of the Compliance Officer was appropriately recognised.

From the outset, the Association benefited hugely from the support provided by educational partners, The Institute of Bankers, UCD, Life Insurance Association, Insurance Institute of Ireland, professional consultancy firms, and the Central Bank of Ireland. These organisations and key individuals ensured a programme of events was launched and an educational framework developed quickly. From the outset, the founding Chairman Niall Gallagher ensured ethics was a key area of focus and this focus remains as evident in the Institute’s ‘Better Business Ethics’ tagline.

The Compliance Institute has succeeded in its ambition to provide opportunities for members to learn and develop. The Professional Diploma in Compliance has been recognised for some time now as the benchmark qualification for those wishing to pursue a career in compliance in Ireland. As compliance and regulation have evolved, the Institute met the challenges head on expanding the educational offerings to include qualifications in specialist areas including Data Protection, Financial Crime and Fintech, Leadership programmes and the Master’s Programmes in Compliance and Ethics. The Compliance Institute is recognised in Ireland as being at the heart of promoting and maintaining professional standards in the profession. The Institute is also actively engaged at an international level with other compliance associations.

The Institute provides opportunities for members to network through the many and varied CPD events throughout the year and the annual conferences. Friendships have been forged through attendance at CPD or social events and through working together on Committees or Working Groups. Finally, I must acknowledge the huge work done on member communication, the website, library and newsletters are hugely important in keeping members up to date. The Compliance Institute has certainly had a big impact in its first 20 years and has an important role to play in the future.

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AUTHOR: Angela Rumley

Former Compliance Institute Director and Honorary Fellow.

ICQ Special Anniversary Edition 2022

This article was taken from Compliance Institute's ICQ Special Anniversary Edition 2022