As CEO of COFICERT, the global leader in financial certification that evaluates and certifies some of the most demanding and high-performing companies around the world, Souheil Skander’s ultimate priority is to lead by example and to preserve, protect, and strengthen the COFICERT name and signature. As part of a profession rooted in credibility and legitimacy, he believes that they are accountable, both in terms of resources and results, and holds himself and his teams to very high standards, applying zero tolerance for error and approximation. We impose high standards on ourselves to demonstrate and set as an example.
Championing Ethical and Financial Integrity Acros the Globe for a Sustainable Finance
COFICERT is an independent, non-profit, ethical, and eco-responsible NGO under French law. It specializes in financial and non-financial certifications, operating in nearly 40 countries over 4 continents, and historically with, and alongside, global certification leaders, international certification and standardization bodies.
COFICERT brings together experts in governance, financial crime, and sustainable finance to certify companies and institutions that comply with the most demanding standards in terms of good financial governance, extra-financial governance, the fight against corruption, money laundering, and the financing of terrorism.
Souheil notes that operating within a respected industry provides COFICERT with direct access to key decision-makers, a rare and valuable opportunity to be heard, convey meaningful messages, and drive change, provided one knows how to make a lasting impact on their interests.
“What I’m most proud of is the collective commitment we share in working alongside major stakeholders to combat the destructive forces of financial crime, illicit financing, and economic vulnerability. In today’s increasingly complex environment, marked by heightened exposure to financial risks, the sense of contributing to the common good remains an exceptional source of motivation and purpose,” he remarks.
Becoming a Global Leader in Financial Certification
Souheil shares that before becoming a leader in its field, COFICERT was a pioneer, as the first certification body to specialize exclusively in financial and non-financial certifications. Financial certification, which was initially intended for a niche market, gained prominence following the subprime crisis and continued to grow in relevance through successive global disruptions (revolutions, pandemics, wars, and more).
Given the nature of COFICERT’s work, demand for its services tends to increase in times of instability and uncertainty. Its role is to identify the most reliable economic and financial players within a given segment and certifying their compliance with established standards. This process helps reassure stakeholders, secure business operations, and enable continued development. As a third-party certifier, COFICERT is subject to a standard that governs its work: ISO 17021, which sets out the guidelines certification bodies must follow.
COFICERT operates under a regulated framework that prohibits it from providing consulting, support, or training activities. It is also restricted from conducting commercial prospecting in the traditional sense, and its marketing and communications efforts are subject to strict oversight. To preserve its independence and ensure full compliance with conflict-of-interest principles, certifiers operate solely in the area of evaluation to issue certificates of compliance.
Early Lessons in Work, Focus, and Observation
Souheil began his entrepreneurial journey early, working relentlessly from an early age. This strengthened his firm belief in the value of hard work and in the principle of accumulation, which involves engaging in multiple work tracks to reach a single target area or achieve business opportunities. But, he emphasizes, this must always be done while staying focused on one’s core business and avoiding dispersion. One of the values that had the greatest influence on his journey is observation.
Souheil quickly understood that entrepreneurship, combined with hard work, can lead to meaningful and remarkable achievements. Over time, through consistency, perseverance, and dedication, things begin to align and fall into place, ultimately yielding results or, at the very least, generating leads and insights that must be leveraged wisely. “It is through the succession of these stages, and your ability to adapt and refine your approach along the way, that you ultimately make a difference,” he observes.
Souheil committed himself early on, consistently and with determination, to a single goal: becoming number one in their field, with a focus on establishing these certifications as an essential catalyst for business activity. Through financial and non-financial certification, a new product emerged, and with it, a new profession. “Above all, it has been a collective achievement,” he insists.
Leading by Example Through Hard Work and Integrity
In terms of leadership, Souheil insists that there’s no real secret: the one true virtue that matters is hard work – the common denominator among all those who have succeeded, are succeeding, or will succeed, regardless of their field, expertise, nationality, background, age, or gender. “My leadership is built on a foundation of hard work. I often say: Lead by example through demonstration,” he muses.
Souheil points out that teams naturally look to their leaders for direction. They appreciate seeing and knowing that their leader is fully and professionally engaged. It reassures them and, often unconsciously, gives them direction. “I’ve always remained consistent in my commitment to working both intensely and intelligently, a discipline I’ve always held myself to, professionally,” he clarifies.
Through extensive reading about major corporations and observations of some of them from the inside through professional experience, Souheil quickly realized that before companies shape careers and people, there are always individuals who originally created and defined the story of the company itself. “From the beginning, my priority has been to build a strong, loyal core team: people who could develop a shared corporate culture and foster a genuine sense of belonging,” he reflects.
Souheil’s goal is also to bring together individuals who are not only highly competent but also complementary in their skills and perspectives. He sees this as one of the most challenging aspects of entrepreneurship, but also one of the most essential. “Over the years, and still today, I’ve learned that regardless of the industry, human resource management should never be underestimated. My approach is straightforward: recruit, test, give people the tools and conditions they need to do the job they were hired for, and then assess them fairly, based on what is expected,” he shares.
Souheil believes that while there’s no such thing as the perfect or complete person, in his view, there are two essential qualities that must go hand in hand: hard work and integrity. One cannot exist without the other. These qualities only reveal themselves through collaboration. As for skills, they can be acquired. “I actively encourage my teams to take part in the recruitment process. I value giving applicants a fair chance and enjoy discovering untapped potential. With this mindset, a selection process occurs, and over time, the right people rise to the top,” he observes.
Global Risks Are Rising and So Is the Need for Certification
While globalization offers undeniable benefits to society, the increasing interdependence of global actors can also heighten systemic vulnerabilities, making the entire system more susceptible to cascading crises. With so many players involved in the global economy these days, everything has become more connected, and that brings bigger risks that can affect everyone.
In recent years, the transformation of economic and financial systems has significantly accelerated, driven by successive global crises that have reshaped the context, its norms, and practices. Souheil recalls that a few centuries ago, major crises occurred roughly once every 50 years. Today, due to globalization and interconnectivity, a crisis arises approximately every decade, and all indicators suggest that the frequency may soon be reduced to one major crisis every five years.
Because these crises are becoming more frequent and intense, with the prevailing trend being one of acceleration, governments have to stay alert and tighten their oversight to keep things in check. But they’re not doing it alone, as international watchdogs are stepping up, too. This dynamic environment is driving greater demand for benchmarks and indicators, tools that can help structure oversight and support the continuity of economic and financial activity.
“This is precisely where standards come into play and, by extension, the role of certification becomes essential,” Souheil explains. “For companies, this means their responsibilities are shifting and growing; to keep pace, it is essential to understand their compliance position within the broader global framework through the application of shared international standards. Hence, the big jump in companies seeking certifications, whether voluntary or required, to show they’re on top of things.”
Harnessing Certification to Elevate Global Compliance
Souheil points out that the use of COFICERT’s certificates is both strategic and valuable for the continuity and development of its clients’ activities on a microeconomic scale. “Our statutory mission is rooted in evaluation and inspection. As a certification body, COFICERT does not have the authority to impose sanctions like a government might, but we hold another power, that of recognition and validation,” he explains.
COFICERT’s mission is to objectively and rigorously assess compliance with defined standards and issue certificates of conformity accordingly. These precious, high-value certificates, well-known and recognized by market participants, are used across international economic and financial ecosystems.
On a macroeconomic level, COFICERT plays an active role in promoting best practices and advancing the application of global standards of compliance. In doing so, it helps spread best practices in governance, in the fight against financial crime, and in the integrity of financial systems. “Our work contributes to improving the business climate in the short term and supports the pursuit of sustainable finance in the medium and long term,” Souheil maintains.
Regulatory Trends Aligning with COFICERT’s Mission
Souheil notes that regulatory trends are moving in the direction of COFICERT’s business for several reasons. As the global population continues to grow, the number of economic actors is also rising worldwide, a mechanically correlated phenomenon. This expansion drives the need for greater structure, while the multiplication of operators compels regulators to strengthen oversight to curb misconduct and prevent abuses.
This shift also benefits the markets, as it encourages differentiation among players, giving some a competitive advantage. The implementation of benchmarks and indicators to distinguish between operators, as well as the establishment of supervisory rules to better regulate them, directly contributes to improved risk management, allowing for the identification of high-risk actors and the recognition of those who are trustworthy.
Since its founding in 1947, in the aftermath of World War II, the International Organization for Standardization (ISO) has led this movement. Other international bodies have since joined this collective effort: for example, the International Group for Sustainable Finance (IGSF), based in Luxembourg. These organizations play a key role in developing the standards that will be made available to certifiers.
Balancing Specialization and Sustainable Success
As a CEO and leader, Souheil admits that balancing his professional responsibilities with his personal life while leading a globally influential company is one of the most difficult equations for any business leader to solve. “For me, entrepreneurship is not just a career choice: it’s part of who I am. That said, family life brings stability and balance. Entrepreneurs may have limited free time, but my principle is this: to dedicate quality time to my family. I make that time count,” he shares.
Looking back on his career, Souheil offers some key insights, namely a strong belief in specialization far more than in diversification, unless diversification serves a purpose of integration. “I believe one should dedicate all their energy and effort to a single cause, whatever it may be, to become the best in a clearly defined segment,” he insists.
Souheil notes that true differentiation only comes from deep mastery of a profession and a specific area of expertise. And if you’re not the first to offer a particular product or service, then you must strive to be among the very best through knowledge, skill, and expertise, or by transforming what already exists: improving it, adding value, and bringing something new to the table.
Souheil’s advice to emerging leaders who aspire to drive change is that, while people are often in a rush to succeed, and want to succeed fast and loudly, sustainable and meaningful success rarely comes easily. He maintains that healthy, real success is built slowly, over time, as the outcome of long and demanding periods of work, marked by a mix of setbacks and small wins, adding up to a form of relative success that must be gradually consolidated.
“I often say, somewhat ironically, ‘It takes ten years to succeed overnight.’ The only real catalyst is to get started, and then to improve based on field experience, feedback, criticism, and even rejection. There’s no point in waiting to have or build the perfect product or service before going to market, because we’re never fully or perfectly ready. This pursuit of perfection is, by nature, an illusion. You have to take the leap and learn from your failures to build something better,” he states.
Conclusion
Souheil Skander has positioned COFICERT at the forefront of global certification and compliance through vision, perseverance, and an unwavering commitment to integrity. His leadership not only strengthens trust between key market players but also advances governance, risk management, and sustainable finance, helping shape a more transparent and resilient global economy.
