012 - How FinTech Founders Talk and Think About Compliance When Nobody is Watching

Dec 21, 2020

Do CEOs and founders worry about compliance too much? In this episode, Yana wants to discuss some things that are more fundamental, like problems, issues, or misconceptions that she believes have been around for a long time. She hopes that this conversation will show you a different way to approach and think about compliance. Yana will share her perspective on addressing some of these things and how to think differently in different areas like misconceptions or lies about compliance that live in many founders' mindset and belief system, plus much more on this Compliance That Makes Sense episode. 

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Today's episode:

• [00:34] Hello, my friends!
• [01:41] Yana will state a belief, misconception, or lie and then give her perspective.
• [01:54] Compliance is a big cost or a burden.
• [02:20] Yana shares her perception of this belief.
• [03:40] It is hard to find good people in compliance.
• [03:54] Yana gives her insight into this comment.
• [05:30] I don't have the money to invest in compliance.
• [05:52] Yana gives her view on this belief.
• [08:51] Have you invested enough in compliance? 
• [10:06] Founders look for a complete list of everything that is required to be compliant.
• [10:48] Yana addressed this issue in Episode 11.
• [11:45] Founders feel like they want to drive their compliance decisions by themselves.
• [12:39] Yana shares a warning for anyone who believes they can do it on their own.
• [14:13] Yana says they can learn compliance, but if they are a CEO or founder, they probably won't be doing your actual job.
• [16:04] Yana feels like many founders and CEOs worry about compliance too much.
• [18:46] Thank you for listening!

Additional Materials:

Is your compliance lean and agile? If you are not sure, go to www.competitivecompliance.co/lean-compliance-quiz and answer 6 questions to get specific recommendations on how to reduce your compliance cost.