In this episode of the COMPLY Podcast, I sat down with my special guest Kristina Sacco to talk about what it takes to build a strong culture of compliance. Kristina shares some of her thoughts and best practices for getting everyone on board to partner together to make sure that the lines of communication are open and that everyone feels like they have some ownership in the process.
Discussion topics include:
- Compliance departments as the gatekeepers of the organization
- How the compliance team can help the organization shine
- The importance of networking with other compliance professionals
Show Notes:
- Driving Marketing and Compliance Collaboration with Technology: https://performline.com/blog-post/driving-marketing-and-compliance-collaboration-with-technology/
- Compliance Superhero Kristina Sacco: https://performline.com/blog-post/compliance-superhero-kristina-sacco/
- Upcoming Events: https://events.performline.com/upcoming-events
- Connect with Rhonda: https://www.linkedin.com/in/rhonda-mcgill/
- Connect with Kristina: https://www.linkedin.com/in/kristina-sacco-co/
- Listen to Part 2: https://performline.com/blog-post/episode-54-creating-a-culture-of-compliance-with-kristina-sacco-pt-2/
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About COMPLY: The Marketing Compliance Podcast
The state of marketing compliance and regulation is evolving faster than ever, especially for those in the consumer finance space. On the COMPLY Podcast, we sit down with the biggest names in marketing, compliance, regulations, and innovation as they share their playbooks to help you take your compliance practice to the next level.
Episode Transcript:
Rhonda:
Hey there COMPLY podcast listeners, and welcome to this week’s episode. I am always excited to sit down and talk to special guests on the podcast and over the last several months, I have had the absolute pleasure of having ongoing discussions with a couple of compliance professionals that are regular attendees at our mortgage roundtable, as we took a dive into their views on compliance culture. This week I sit with Kristina Sacco of Geneva Financial to discuss her views on the important role that compliance can play in the success of an organization. We also had an opportunity to chat a bit about the importance of having connections outside of the organization to stay on top of best practices and so much more. As always, thanks for listening and enjoy!
Rhonda:
Good afternoon, COMPLY Podcast listeners, today is a very special treat. I have with me today Kristina Sacco, one of the compliance professionals over at Geneva Financial. Kristina and I have been talking over the last few weeks on the topic of compliance culture as a whole. From that conversation, I thought it was a good time to step back from just talking about regulations and focus more on the culture—how we can really push and drive a strong, robust culture of compliance within our organizations. So, I want to thank Kristina for joining me today. Kristina, I’m going to turn it over to you to introduce yourself to the listeners.
Kristina:
Wonderful, Rhonda. Thank you so much for having me. It’s a pleasure to join the podcast listeners and PerformLine in this important conversation. I find compliance to be a very important topic and one that’s near and dear to my heart, so thank you for the opportunity.
Rhonda:
Absolutely. So, if you recall a few weeks ago, when we were talking, one of the things that came up was the culture of compliance. We always hear people say they want a strong culture of compliance, but what does that mean to you? I have my thoughts, but I’d love to hear what you see as driving a strong culture of compliance, especially in your role.
Kristina:
Absolutely, Rhonda. That’s a great question. Thank you. I’m excited to share. I think successful navigation in compliance, regardless of the industry, comes down to bridging an emotion-based message with regulatory requirements. There’s a lot of passion behind business and the messaging required to attract customers or consumers, and there’s a lot of emotion behind that. But we also need to stay within the guardrails to keep things on track. So, I think that’s a big part—bridging those fundamental pieces of business.
And the other part I find engaging about working with Geneva is that we’re encouraged to “be a good human.” Never be afraid to pick up the phone and talk to someone. I’ve had a lot of success reaching out to independent individuals directly and saying, “Hey, I need your help because the message isn’t getting through.” When there’s a human voice behind the compliance message, it tends to aid in the buy-in, don’t you think?
Rhonda:
I totally agree, and the buy-in is so, so critical. Like you said, it’s about the human voice versus messages just coming through email or someone simply shouting, “Do this, do this.” Sometimes, it’s as simple as picking up the phone and saying, “Hey, I’m not sure if you were aware, but this is something you should know.”
Kristina:
Yeah, making it more relatable and less about quoting statutes like “as per statute dot number number dot J, or R.” Let’s have a conversation about what that actually means in relation to what you’re doing and how it can support others in the industry. I think that’s what’s allowed me to be successful in compliance—I’m always looking for ways to support forward progression, not to halt it.
Rhonda:
I love that. It also brings a level of respect and ownership that’s required for people to really understand why doing their part and working collaboratively is good for the organization as a whole. It builds trust, and trust is so critical when you’re trying to explain why certain actions, like not doing X, Y, and Z, are necessary. At the same time, you can help them find alternative avenues to achieve the same goals.
Kristina:
Exactly. It really oils the gears of what they’re trying to accomplish, making their movements more fluid and intentional. This ultimately supports customer satisfaction, which brings in more customers. What I find interesting, and a path I personally go down, is that it fosters collaboration. I love working with others, learning from them, and finding better ways to do things. There’s so much experience in any given room, but sometimes we just need to talk about it.
Rhonda:
Absolutely. That leads me into the next question: why is compliance so critical for organizations? You’ve already touched on some great points, but let’s delve into how compliance better equips organizations and helps protect their brand. Why is that such a crucial element?
Kristina:
Brand protection is everything. A company wants to be known by its name, its brand. I prefer to be known as Kristina, not “that compliance girl,” for example. Both are true, but one is obviously preferred and supports my business as a professional. It’s just as important for a business’s brand as it is for a person’s name. Your brand is what you’re presenting to your customers and consumers—that’s why we’re all here.
Rhonda:
Absolutely. And I don’t think you can be too big or too small to understand the critical importance of compliance. Organizations should take that aspect seriously. I’ve seen—and I don’t know if you’ve noticed this as well—post-COVID, during some of the economic downturns, a lot of layoffs start in compliance. I always think, “Oh my God, that’s the worst place to start layoffs!” Compliance professionals are the gatekeepers, protecting the brand and the organization’s reputation. So, I find it alarming when that happens.
Kristina:
It is tragic.
Rhonda:
Right.
Kristina:
And I think compliance is really our brand as compliance professionals. It’s our job to get that word out, and that’s part of my motivation for being on this podcast with you and spreading the word because we’re profit savers. That’s huge. If you’re making a profit, I’m really trying to help us as an organization, retain that, and not only retain it, but take it further and and go deeper. Go further, go longer.
Rhonda:
Yeah.
Kristina:
Making people happier—isn’t that why we’re all here?
Rhonda:
I think it is. Absolutely. I don’t know how large your team is, but could you talk a little bit about how your team works across different departments within your company to really help drive that compliance culture?
Kristina:
That’s a great question. Our team is very small here at Geneva. And that’s great because we’re small and mighty; that gives us all that name recognition. So I am known across a lot of departments within the organization as a compliance support, someone who is supporting the compliant behavior of the organization and helping us put our best foot forward with states, agencies, and investors. Anyone who is looking at us or our organization, I’m really trying to help us shine.
Rhonda:
Yes, so compliance used to be more of a legal function, and in some organizations, it still is. Do you all fall under the legal side of the business, or are you more on the risk measurement side?
Kristina:
I would say a bit of both. We definitely have legal professionals within Geneva, as well as compliance professionals. I kind of bridge both areas—I rely on my partners in legal and compliance to succeed in many of my initiatives. Whether it’s examination management or advertising compliance, both can be very time-sensitive and specific to the communication or messaging we’re providing—or not providing.
Rhonda:
That’s great.
Kristina:
Yeah.
Rhonda:
Or not, or not.
Rhonda:
I always see compliance as consisting of three main parts: identifying risks, implementing processes to observe and monitor those risks, and then the ongoing work of mitigating them. It’s about ensuring that anything that could potentially cause reputational damage is being monitored, updated, and managed. How does your team go about doing that?
Kristina:
We have a very experienced team of compliance and legal professionals who are subject matter experts in their respective areas. For example, some individuals focus on vendor management and contract reviews, while I’ve been deeply involved in advertising compliance for a long time. I’m also quite organized, so I handle a lot of the examination management. This setup has allowed me to introduce myself to many people across the company, which helps us manage our responsibilities more effectively.
As for identifying risks, it’s a team approach. We each focus on our specific areas. In my case, I stay engaged in advertising compliance by paying attention to industry trends and maintaining professional relationships. Staying connected with my peers in the industry and being involved in networks and industry groups keeps me informed and helps us all progress together. We’re all rowing in the same direction.
Rhonda:
Absolutely. When I was in compliance years ago, I found it hard to find groups that were focused specifically on areas like advertising compliance. There weren’t many spaces where you could connect with others and have meaningful discussions about what’s keeping you up at night. That’s one of the reasons why I started the mortgage roundtable when I came to PerformLine. It’s been going on for four years now, and a lot of the same folks have been attending because it’s one of the few places where marketing compliance professionals can get together and discuss industry concerns and know that their conversations are not being broadcast publicly.
Kristina:
And that is what is so refreshing about your roundtables, and that was awesome. I loved that about the roundtable. It was full of people virtually who are champions of the same opportunities I’ve encountered over the years. It’s an excellent resource, and I’m happy to be part of it. There are definitely gaps in the industry sometimes, but as a professional, it’s my job to fill those gaps; no one is going to do that for me. If the resources aren’t there, I’ll do the research, talk to people in my network, raise my hand, and say, “I want to be part of this,” and push and push it. And before you know it, there’s more opportunity.
Rhonda:
Absolutely. And as we wrap up this episode, one of the things I always like to drive home the importance that there are major compliance failures that happen, and this is why connection and having this opportunity to speak with others is so important. However, we also know that the failure to take necessary steps can result in massive fines, penalties, reputational damage, and even more concerning—criminal exposure. Regulators are starting to hold individuals accountable, which is why what we do and the conversations we have are so crucial. It helps us all mitigate potential risks.
Kristina:
Yes, absolutely. That’s why networking is so important. We need to keep communicating and have open forums, because, in my opinion, that’s where change happens. Someone hears an idea, brings it back to their board, and the next thing you know, big changes are being made within that company. That’s what sows the seed for innovation.
Rhonda:
Exactly. So, Kristina, thank you so much for being part of this first episode on the “Culture of Compliance” discussion. We have two more episodes planned, and I think you’ll be joining us for those conversations. But I really wanted to thank you for being a part of the first “Culture of Compliance” episode and helping us lay down a foundation for our listeners—whether they are new to compliance or new to their organizations—about the importance of building a culture of compliance without fear. It’s about working with internal departments to ensure strong and robust policies to drive a strong culture of compliance. So, thank you so much for being here. Do you have any parting words for our listeners about what it means to have a culture of compliance?
Kristina:
Well, Rhonda, thank you so much. It’s truly been a pleasure to join you and have this conversation about the culture of compliance. As I mentioned earlier, it’s a topic very near and dear to me. There are some amazing compliance professionals out there, and it just takes continued engagement to foster that culture. Like you said, with your roundtable, which has gained a lot of popularity, it’s a very welcoming group. I was taken aback the first time I attended—it was great to feel part of a specific group focused on compliance behavior.
There are also many industry groups that support compliance activities, and while I don’t need to name specifics, there are entire conferences dedicated to it, but that is also a great way to grow your network and expand your knowledge in compliance. It’s been a pleasure to discuss this with you, and I’m excited to see where this conversation goes in the future.
Rhonda:
Awesome. Thank you so much again. And to our COMPLY Podcast listeners, thank you for joining us today. We look forward to having you join us for our next discussion, where we’ll talk about how you build a solid compliance culture. Until next time, thanks for joining us!
Rhonda:
Thanks for listening to this week’s episode of the COMPLY Podcast! I hope that you found it enjoyable. As always, you can find the latest content on all things marketing compliance by heading over to performline.com/resources. And for the most up-to-date pieces of industry news, events, and content be sure to follow PerformLine on LinkedIn. Thanks again for listening and we’ll see you next time!
Gianna Kennedy 