From my experiences, compliance with the finance sector requires vigilance, preparation, and teamwork collaboration. Here is how I ensure that projects maintain alignment with regulatory requirements while maintaining deadlines:
Proactive planning: Right at the beginning of the project plan, I take compliance as its core part of the project and make sure all the regulatory requirements and integration into scope and timelines will be done under the close monitoring of the compliance and legal team.
Ongoing Monitoring: Throughout the project, I follow regulatory updates closely and make sure the team is aware of changes that might affect the project. Regular compliance team check-ins can catch potential issues early on.
Clear Documentation: All compliance actions, decisions, and communications are properly documented to aid in audits and to provide clarity within the team.
Cross-team Collaboration: One must work closely with compliance officers, legal teams, and finance experts. Regular meetings and open communication are good for keeping everyone on the same page.
Balancing Deadlines and Compliance: Deadlines can be very tight at times, but compliance comes first over speed. Experience shows that spending more time upfront on alignment is always better than waiting for delays or penalties later on.
