What is the #1 Secret to

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What's the number one secret to having a healthy compliance program? Hi, Dave Dickinson with Bankers Compliance Consulting. One of my passions is to talk about organizational health or culture, and that is the secret to an effective compliance program. In fact, the regulators have picked up on this several years ago and started evaluating your culture. It's very difficult to, you might say, to walk in and see all the things. I can tell you, we can walk into a bank and we can feel it typically, if it's very healthy or very dysfunctional, you can feel that very quickly. Culture is the foundation of everything that goes on in your institution. Not just compliance but everything else as well, and it affects how profitable you are, because the health of your culture also talks about how well people communicate with one another, and how information gets transferred around and how teams work together.

Think about the analogy of a sports team, a basketball team or a football team. They all have great athletes on them, what makes this team better than that team? And oftentimes it comes down to how much they trust each other, how well they communicate, it's their culture. So what really is culture, is what I want to talk about. One author and consultant named Alan Weiss said, "Culture represents that set of beliefs which governs behavior." In other words, it's behavior. It's not posters on the wall, it's how people behave. So you can have core values and mission statements and rah rah speeches and things up on the wall that say we're awesome, but if people don't behave that way, then it's not really happening, and your culture is not like what you think.

We're often concerned about our branding, and I love this quote that says that, "If the brand is the face of your organization, then your culture is your soul." I don't know if that helps you clarify, but to me it's just ... that's who we are. It says what defines us. This is our culture.

And last, a lot of times as compliance professionals, we like to think through checklists. Give me that checklist and I'll do it. When it comes to culture, it's not something that you can check off. It's not something that you can just say, "I've done it and now we can move on to the next thing." In fact, the analogy I like to give, is that I want my wife to know that I love, that I honor, that I cherish her. So every morning I wake up and I lean over and I say, "Babe, I love you." And then I grab my checklist and I mark that off, as task done for the day. Probably doesn't go very far if that's how it really worked.

So, culture is not something that you just do, it's who you are, how you operate, and there are very effective ways to increase culture, but they're not something that you're going to just be able to accomplish in a short amount of time. Are you interested in improving your culture? If so, I'd love to visit with you about it. It's a very much of a passion of mine, and I absolute believe it is the foundation of your house of compliance, as well as the foundation of your entire organization. I hope you'll work on your culture. Thanks for watching this video.

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