Concentrating on compliance

An enthusiasm for compliance? Some may find that odd. But not Jill Stowe.

“I really enjoy compliance issues and being able to help make my co-workers’ jobs easier, which I hope ultimately makes processes or transactions easier and more valuable to our members,” says Stowe, vice president of compliance and fraud at VSECU.

Regulations exist for consumer protection, and Stowe notes that by protecting members, staff can also protect the credit union from costly fines and reputation risk.

To stay current, Stowe constantly researches regulations, reads disclosures and documents, attends conferences and webinars, and actively networks with compliance professionals across the country. She brings that knowledge to bear at the $680 million asset credit union in Montpelier, Vt., improving practices and procedures to keep the credit union on track.

“I count on my co-workers to alert me to issues, too,” she says. “They can help take a pulse on issues, and each department has a lot of expertise to draw on.” 

Stowe enjoys the variety her position brings. “My hands touch multiple areas of the credit union each day; I’m never working on just one thing,” she says. “I like to stay busy. This is something I’ve always loved about the compliance field: It’s not boring, contrary to what many might think.”

As the first full-time compliance professional at VSECU, she initially found compliance acceptance “a culture shock.” Stowe understands that not everyone likes the impact rules and regulations might have, but “everyone here takes compliance seriously and makes a good faith effort,” she says.

Stowe has embraced the challenge of working with staff and exchanging ideas. She appreciates the relationships she has developed with other staff.

“Regulations are not going away,” Stowe says. “It helps to have a sense of humor and not take things personally when frustrations with regulatory burdens run high.”