Compliance Institute AGM 2023

Diarmuid Whyte, President of Compliance Institute address to members


Date: 11 January 2023

Compliance Institute's 2023 AGM took place in-person on Wednesday, 11th January 2023.  It was preceded by an address to members delivered by Úna Butler of the Competition and Consumer Protection Commission (CCPC).   Outlined below is President Diarmuid Whyte's remarks. As part of the official proceedings the President welcomed the two new Council members, Áine Hickey, Head of Risk & Compliance for Crestbridge Ireland and Mary Colhoun, Director in the Office of the Data Protection Officer at Meta Platforms Ireland Limited (formerly Facebook Ireland Limited).

Ladies, Gentlemen, Members,

Let me wish a happy 2023 to everybody in attendance. Thank you for attending today’s Compliance Institute Annual General Meeting which is our first official event of 2023 and it is great to have our AGM in person.

Firstly, I would like to say a big thank you to Kathy Jacobs who will retire by rotation this year who I am sure you all are familiar with through her contributions to the Compliance Institute and specifically the vision and direction in her term as President. Kathy has made fantastic contributions adding to those Presidents and Directors that have gone before her. I am sure that the impact Kathy has made will be carried through to the future.

I would now invite Ciara Lambe to provide a small token of our gratitude to Kathy.

Now to reflect on 2022 I have been pleased with a number of aspects:

·       Membership offerings.

·       Establishment of the Diversity and Inclusion Committee.

·       Update of the Compliance Institute Strategy.

·       Recognition of the Compliance Institute Anniversary.

Membership Offerings

In 2022, our education mission continued with a phased reintroduction of in person events while still retaining the successful online model. Over the year we had 34 events, 27 online, 6 hybrid and 1 in person. The online, hybrid and in person events is something that has worked well and with our cross country membership base it is something that we will seek to retain.

Ten further podcasts were produced with over 2,000 downloads and we would hope to continue these into 2023.

We continued our involvement in the International Federation of Compliance Associations, the global umbrella organisation for compliance professional bodies and participated in their three day conference.

One of the most significant developments in 2022 was the launch of the Professional Diploma in Sustainable Finance for Compliance Professionals which was launched during Climate Finance week with Minster Simon Harris and developed in conjunction with IFS Skillnet, and Institute of Banking.

Establishment of the Diversity and Inclusion Committee

This is something very key to my heart and something I am delighted to see in place. As some of you may have heard from me already Diversity and inclusion promotes differing thought processes with people from diverse backgrounds bringing different influences and an alternative outlook. We can all be different for a variety of reasons be it race, ethnicity, gender, and much, much more. While diversity is much more than gender today brings with it positive additions of two strong Directors in Aine Hickey and Mary Colhoun which I know will bring with them a wealth of experience which will help the Compliance Institute continue to grow and develop. I look forward to working you both and your support in driving and challenging the strategic direction of the Compliance Institute.

Update of the Compliance Institute Strategy

During 2022 we reviewed our strategy for the next three years taking account of the feedback of the membership survey. Our key strategic objectives continues to be to raise the profile of Compliance Institute to become the ‘voice of compliance’ in Ireland and represent our membership base through the provision of education and professional development. I personally believe we have represented our compliance community well but recognise also there are areas where there is scope for further support. I and the Board wish to see further coverage in our offerings across the Financial Services sector to ensure we can service our membership base bringing further educational programmes and CPD events.

Recognition of the Compliance Institute Anniversary

The 20th Anniversary represented a considerable year for the Compliance Institute. It was appropriate to recognise the contributions of all those that have made the Compliance Institute what it is today. Those that have been involved from the start please recognise that the Compliance Institute wouldn’t be where it is today without your involvement and the legacy of your involvement is in the membership organisation we have today.

To conclude, I believe 2022 has been a success and much credit must go to the executive in terms of coordination and organisation of all activities. As I have referenced in terms of the 20th Anniversary the voluntary contributions of our membership base are key via the Committees, Working Groups and also on Council. I would encourage those interested in being involved to reach out and put your name forward. As I touched on earlier your vision and differing views can add huge value to other Members and can allow further development of programmes, events benefiting the entire sector.

Thanks, and have a good year.