Are you hesitant to hire a compliance expert because you are not sure if you need one? Listen as Yana discusses when it’s time to hire a compliance person into your FinTech team and what happens if you unnecessarily delay this decision. Hiring someone from your team that is not a compliance expert to write compliance documents takes forever, can make your company look immature and cause delays. Hiring a compliance expert can keep your company from making mistakes that can potentially get you in trouble and much more on this episode of Compliance That Makes Sense.

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Today’s episode:

• [00:34] Hello, my friends, and welcome back!
• [01:38] Yana speaks about the most common issue she sees happening with startups.
• [03:45] One of the common mistakes she sees a lot is using marketing slang and doesn’t describe details in the way it is expected.
• [04:55] Another strategy that isn’t working is to just do nothing about hiring compliance professionals.
• [06:31] Hiring consultants instead of a compliance expert is expensive and slow.
• [08:42] Yana says hiring a big four is not a safe bet if you want speed and progress.
• [10:08] Is crowdsourcing information a good way to bypass hiring a compliance expert?
• [12:13] Yana recommends hiring a compliance person when you have to do it by law or if you aren’t required by law, but you regularly need to submit documents to others.
• [13:43] It’s necessary to hire a compliance expert if you have 20 or more active customers at any given time.
• [15:17] Thank you for listening!

Show links:

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