By Blandine CORDIER-PALASSE, Revue RH&M
Insights from the human resources partners at BCP Executive Search.
RH&M: How did companies react when this law came into force?
Blandine Cordier-Palasse, Managing Partner : Companies that are already aware of compliance issues, operate in regulated sectors or face fines or sanctions, have set up a compliance team. This team meets the requirements of the French and international authorities.
Others are slow to realise the need, indeed the importance, of putting in place a real, robust, efficient programme not only to meet legal requirements but above all to ensure their long-term survival and preserve their image and reputation. The entry into force of the law has reinforced the emergence of a new function based around risk management and compliance.
RH&M: New jobs mean new resources?
Angélique Budin, partner : Yes, that's true, but here again, not all companies seem to be at the same stage of development! It is undeniable that the awareness and experience of managers has a real impact on the organisation of the Compliance function.
We are seeing two trends. Firstly, companies are drawing on internal resources. These are mainly from the legal department, the internal audit department and the finance department. Others are turning to law firms and consultancies to set up a programme in the first instance.
Blandine Cordier-Palasse : Then they realise that to bring it to life and infuse it throughout the company, they need an in-house conductor and relays to structure actions, get buy-in, provide training, raise awareness among managers and operational staff, and stick as closely as possible to the issues faced by everyone in their day-to-day work.
This local presence is essential to running, rolling out and monitoring the efficiency and development of the programme on the ground. And you can't improvise.
Angélique Budin : So they may tend to recruit a profile with 5 to 6 years' experience. Then they strengthen the function with one or more more more senior profiles, and experts, depending on the case, in corruption prevention, antitrust, personal data, cyber security.... These profiles are capable of deploying and monitoring an efficient programme with legitimacy and credibility.
RH&M: So you think this change in the way compliance is organised is necessary?
Blandine Cordier-Palasse : I would even go so far as to say that it is essential. The organisation of this cross-functional role varies according to the company's sector of activity, culture, governance, strategy, geopolitical exposure and the risks involved.... These parameters call for a variety of profiles that, over and above technical skills, are adapted to the challenges faced by each company.
Mature groups appoint a Compliance Director at the highest level. This gives credibility to a Tone from the Top approach, without forgetting the bottom-up symmetry.
He or she is the conductor of an orchestra, instilling the compliance culture throughout the company in an agile manner. He or she is responsible for changing the modus operandi of management and operational staff on a day-to-day basis.
We see this development clearly in our discussions with managers. They have gone beyond the regulatory constraints and turned it into a competitive advantage, a source of performance and long-term value creation for the company. They now have no hesitation in recruiting.
