Join us on "The Future Focused CXOs" podcast as we sit down with Netspend’s Chief Compliance Officer, Jason Honeycutt, for an exclusive interview. Hosted by our very own Founder & CEO, Jayant Umrani, this is one episode you won't want to miss! Tune in now to hear from one of the industry's most accomplished leaders.

Highlights:

- The importance of leveraging data and technology in compliance: Jason Honeycutt emphasizes the critical role of data in compliance work, highlighting the need for access to data, data proficiency, and the ability to work with data effectively. He shares his experience using Excel as a powerful tool to retrieve and manipulate data, urging compliance officers to become data proficient.

- Continuous improvement and documentation in compliance: Honeycutt emphasizes the need for continuous improvement in compliance programs and the importance of documenting these improvements. He stresses the significance of being able to prove the effectiveness of a compliance program when facing regulatory scrutiny, emphasizing that having the best compliance program is futile if it cannot be demonstrated.

- Staying ahead of compliance challenges: The podcast explores how Compliance Officers can stay ahead of compliance challenges, which are constantly evolving. Honeycutt recommends staying updated through reliable news sources, reading general business and political sections to understand regulatory influences, and pursuing hobbies or areas of personal interest that foster learning outside of the compliance realm.

- The value of diversity in compliance: Honeycutt highlights the importance of diversity in compliance teams in terms of backgrounds and experiences, and cultural perspectives. He explains how different cultural attitudes toward money and diverse approaches to financial transactions can significantly impact compliance practices, making a case for the inclusion of diverse viewpoints and knowledge within compliance teams.

- Data-driven approach for efficiency gains: The podcast underscores the advantages of a data-driven approach in compliance, particularly in terms of efficiency gains. Honeycutt shares an example of how automating and streamlining data processes for anti-money laundering analysts significantly reduced the time required for analysis. The ability to quickly extract and analyze relevant data improves the efficiency of compliance operations and allows for better allocation of resources.

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