Book provides strategies for success in compliance

Now adding author to her list of titles, Tanya McCartney, chief executive officer and executive director of the Bahamas Financial Services Board (BFSB), is seeking to help compliance professionals navigate the sometimes contentious sector in her new book “Strategies for Success: A Roadmap for the Compliance Professional in Financial Services”.

The book aims to help cultivate leadership skills in compliance risk management and mitigation and can be a “secret weapon” for new or budding compliance professionals, McCartney said.

“If you’re interested in being a compliance professional or if you’re already in the field and you want some tactics to engage with the business in a harmonious and effective way and to be a leader in your profession, I think it’s something you should read. It’s not a big book and I like to say it could be your secret weapon on the job to help you navigate some of the dilemmas you may be faced with,” McCartney said in an interview with Guardian Business.

In most financial institutions, McCartney explained, compliance officers are the ones reminding executives of the laws, policies and procedures by which they must abide, sometimes at the risk of losing business.

“So, there’s sort of a natural tension between the need for business growth and the need to adhere to policy. So, I thought I would give a book that would speak to compliance leadership for one, being a partner with the business for the growth of the financial services sector. So it speaks to leadership principles and it also speaks to some practical scenarios that compliance professionals may be faced with,” she said.

“For example, you are being asked to sign off on opening an account but you think that there is more information that you need. How do you handle that and be a business partner and not a business blocker? People have said to me that while the book focuses on financial services, the principles that I speak to around effective leadership can be applied across the board for anyone.”

Published in December, McCartney said the book has been ruminating around in her brain for a while as she climbed the corporate ladder, becoming a distinguished finance professional.

“I am an attorney and a compliance professional by heart and by profession. And so, for a while,” she said of her long endeavor to pen the book.

“I entered the compliance profession in 1999, just before the 2000 rollout of bills and all of the black listings that sort of changed the landscape for the way that we deliver financial services and the need to address money laundering and terrorist financing. So, I joined this area very early on and I thought it would be good to share my experiences with young professionals who work in this space.”

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Paige McCartney

Paige joined The Nassau Guardian in 2010 as a television news reporter and anchor. She has covered countless political and social events that have impacted the lives of Bahamians and changed the trajectory of The Bahamas. Paige started working as a business reporter in August 2016. Education: Palm Beach Atlantic University in 2006 with a BA in Radio and Television News

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