In the intricate world of compliance, Jason Geers, Chief Compliance Officer (CCO) at Ancora Holdings Group LLC, unveils the layers of his professional journey, skills, and the unique challenges encountered while maintaining compliance standards.
In Jason’s symphony of compliance leadership, certain attributes take center stage—taking pride in work, being a keen listener, anticipating challenges, and making critical decisions with unwavering personal integrity. He views these qualities not merely as professional virtues but as the very keystones for a Chief Compliance Officer (CCO) to thrive in their role. The emphasis on these attributes is not arbitrary; it aligns seamlessly with Ancora’s mission and the high compliance standards set by the Chief Compliance Officer. For Jason, these attributes are not just skills but the very notes that compose the harmony of effective compliance leadership at Ancora.
Be an active participant in work and life, not a passive surveyor.
Navigating the Melody of Compliance Excellence
Jason Geers embarked on a compelling journey shaped by the harmonies of a family-owned piano rebuilding business. Growing up amidst the nuanced intricacies of this venture, Jason learned from his father and grandfather about the level of effort needed to build and sustain a world renowned reputation of a commitment to perfection and meticulous attention to detail. This education laid the bedrock for his future in the career in compliance. The echoes of dedication and precision resonating from the piano keys instilled in him a profound understanding of the relationship between effort and accomplishment. This early exposure sowed the seeds for his later role as a Chief Compliance Officer, where every note struck in the compliance symphony reflects the virtuosity learned from the family’s commitment to perfection.
Building a Strong Compliance Team: Lessons from Ice Hockey
Jason, drawing on his experiences in ice hockey, reveals universal truths that apply to building a strong and effective compliance team. He emphasizes the importance of a team speaking with one voice, ensuring a clear, unified, and strong message from the Chief Compliance Officer. This unity, Jason believes, is crucial to instilling confidence in the firm’s leadership and maintaining a consistent compliance approach. Moreover, Jason underscores the significance of the team’s belief in its mission or goal.
By setting both team and individual goals and passionately communicating the path towards achievement, Jason instills a sense of purpose in the compliance team. Finally, he recognizes the pivotal role that a leader of strong character plays within a successful compliance team.
“A leader who fosters a sense of unity, trust, and mutual support among team members creates an environment where the team can accomplish remarkable outcomes. The core element is that the team understands its strength lies in its collective efforts and mutual commitment to each other,” Jason explains.
Good leader’s see problems as an opportunity to test their abilities.
Integration of Compliance into Company Culture
Jason advocates for a proactive and integrative compliance approach, versus a passive and reactive approach, emphasizing the benefits of actively involving the compliance team in Ancora’s processes. In his view, active compliance goes beyond monitoring and becomes a hands-on engagement in seeking solutions and mitigating risks. This approach allows the compliance team not only to identify potential pitfalls but also to play a direct role in steering the firm toward client-centric solutions.
“While this active involvement adds strain to the compliance team, the tangible impact on client-facing employees and the satisfaction derived from shaping the firm’s outcomes make it a worthwhile voyage,” he states.
Jason believes that it is critical to understand if the leaders of your firm, like those at Ancora, will empower you with the ability to apply your style of compliance within the firm. Once you have that understanding and the unwavering support of leadership, it is your responsibility to create a culture in your own vision, often referred to as “the tone from the top.”
Dynamic Strategies Used to Adapt to Compliance Evolution
Jason delves into the evolving landscape of compliance over the past few years, highlighting a notable surge in government regulations, notably from entities like the Securities and Exchange Commission (SEC). He has observed a dramatic increase in regulations, heightened examinations, and a surge in monetary penalties, due to regulatory fraud and violations. In response to this changing tide, Jason emphasizes the essential role of a highly experienced, nimble, and skilled compliance team. According to him, firms must view the CCO role not as an impediment to growth but as a crucial driver of business success, especially in an era of heightened regulatory scrutiny across the financial industry.
In forecasting the future of compliance, Jason envisions a shift towards automation and outsourcing. Despite technological advancements, he underscores the irreplaceable role of skilled professionals in risk and compliance. Advocating for long-term partnerships aligning with Ancora’s client-focused approach, Jason contends that technology cannot substitute the critical thinking and questioning abilities of seasoned professionals in risk and compliance roles. His predictions provide invaluable insights for organizations steering through the dual challenges of regulatory adherence and nurturing client relationships.
Jason lays the groundwork for the future of Ancora’s compliance strategies by emphasizing collaboration among all business facets. He underscores the need for flexibility and intellectual agility within the compliance team to adapt to the firm’s innovations which are seeking optimal solutions for clients. Jason’s vision is rooted in a commitment to perfection, providing a robust foundation for Ancora to navigate future challenges effectively. The built-in partnership and dedication to excellence serve as the guiding stars for Ancora’s compliance strategies in the ever-evolving landscape of the financial industry.
Navigating Unique Compliance Challenges at Ancora
At the helm of Ancora’s compliance ship, Jason confronts distinctive challenges shaped by the firm’s unwavering commitment to tailoring client experiences and entrepreneurial spirit. Unlike many organizations, which trend towards limiting possibilities in the client experience, Ancora bends over backward to create bespoke solutions that align precisely with each client’s needs. Enhancing client satisfaction poses a unique challenge for the compliance team. Each client situation becomes a nuanced puzzle, requiring judgment based on individual merits rather than fitting into standardized processes. The compliance landscape at Ancora is a dynamic sea, demanding navigation through regulatory intricacies while respecting the individual currents of client relationships.
Amidst these unique challenges, Jason discusses the broader hurdles facing the compliance sector today. He highlights the surging complexity of regulations and emphasizes the need for successful Chief Compliance Officers (CCOs) to showcase the cost-benefit of a robust compliance culture. The evolving regulatory landscape demands profound knowledge and strategic adaptability, with CCOs navigating through escalating demands, resource planning challenges, and the imperative to minimize barriers to growth.
Jason posits that effective leaders in compliance will be those who can communicate the tangible benefits of a strong compliance ethos to the broader leadership team, ensuring a smooth voyage through the turbulent seas of regulatory requirements.
You alone know what you can achieve in life, do not let others tell you how far you can go.
Staying Ahead Amid Regulatory Changes
Jason suggests a proactive approach to managing the evolving regulatory landscape, focusing on proactive planning and strategic communication. He emphasizes the importance of building networks within the compliance community and staying engaged with the industry-specific trends.
Jason believes a CCO’s deep knowledge of organizational risks and operational processes is crucial for formulating effective strategies to address regulatory deviations. This combination of planning and proactive communication ensures swift adaptation and minimizes disruption to the client’s experience.
Navigating Uncharted Waters
Reflecting on a pivotal moment in his compliance career, Jason recounts the challenge of facing simultaneous routine but still full-scale exams, of Ancora’s many registered investment entities. This unique situation, typically rare in this magnitude, heightened the level of scrutiny on Ancora’s compliance measures. Despite the complexity and pressure, Jason successfully collaborated with the regulatory teams over several years, to achieve positive results, which included zero deficiencies, and placed Ancora in a distinguished category. We noted in our research, that only 2% of SEC exams resulted with zero deficiencies.
Jason emphasizes the satisfaction derived from providing Ancora’s clients and employees with a highly compliant infrastructure. “Achievements like these not only contribute to the firm’s growth and client relationships but also affirm the benefits of his proactive and integrative compliance philosophy,” he states.
Jason and his team’s achievement is significant in the competitive financial industry, where exams evaluate a firm’s compliance practices. Clients evaluate firms, like Ancora, based on these outcomes, before making investments with them. Having the right person at the wheel during these critical periods can change an organization’s path forward. Jason’s strong compliance leadership helped create positive exam results which position Ancora for future growth, creating opportunities for employees and fostering organizational success. Jason’s commitment to maintaining a robust framework is evident in his success.
Advice for Aspiring Professionals: Learn, Lead, and Legacy
Jason shares invaluable advice for those aspiring to enter the compliance field, emphasizing the significance of seeking out role models. He stresses that learning from the mistakes and successes of others is a priceless endeavor. In his view, having a mentor willing to impart wisdom and experiences can be more valuable than imagined, providing insights that contribute to building one’s legacy.
Furthermore, Jason encourages aspiring professionals to broaden their knowledge by understanding various aspects of the business. He suggests gaining insights into how the sales process operates, and how revenue streams are generated, then understanding how those acts trigger operational processes. Jason believes that a comprehensive understanding of these elements is essential for those aiming to understand a firm’s risks and controls which is key for those wishing to lead a compliance team someday.
In Conclusion: A Forward-Thinking Compliance Approach
Jason Geers’ journey as the Chief Compliance Officer at Ancora Holdings Group LLC reflects a forward-thinking and proactive approach to compliance. His insights shed light on the evolving landscape, challenges faced, and strategies employed to ensure a robust and effective compliance framework. As the compliance sector continues to transform, Jason remains at the forefront, steering Ancora towards sustained success in the financial industry.
