What does an amateur dance workshop have to do with AML compliance? More than you’d think — and it starts with learning the right steps.
A friend of mine recently joined a local dance group. They’re amateurs and do it for the love of the dance, the friendship, and the sense of community.
I recently attended an open workshop they hosted and had the privilege of watching a group of over thirty people learning a new dance. It was a wondrous sight, seeing these diverse people meld themselves into a cohesive unit as they added new, complex steps to their routine.
Three things stood out to me regarding what I observed, and I’ll share each one, then detail the connection I see to AML compliance.
Shared Vocabulary in AML Compliance
In particular, I noted that they have a shared dance step vocabulary. They learned this vocabulary which facilitates group cohesion. Building a strong culture of compliance requires that same ingredient.
A team struggles when they don’t understand each other, or misinterpret what’s shared. If you’ve been involved in AML, you’ve probably already absorbed the vocabulary. We also need to remember that anyone new on the team may need some time to get a firm grasp on what is being discussed. Show that little bit of patience it takes to explain, one more time, what “third party” means in a money laundering context. Clear communication makes everyone’s work easier and more pleasant.
Personal Investment
On top of the shared vocabulary, their personal investment in applying what they were learning stood out. They don’t get paid to do this. Their reward is being a contributing member of the group.
How can I be a contributing member of my team? Part of it is your personal interest and investment in learning the field. I see personal investment as your ‘why’. Maybe you’ve never put it into words, or even thought much about it. Why is AML compliance important to you? It needs to be more than, “Because it’s part of my job.”
Let me get the thoughts churning as it were, by sharing why I think it’s important. I don’t like that a scam artists are conning people out of their hard-earned money and getting away with it. I want them arrested. I want criminals that prey on seniors, stealing their life savings caught and put behind bars. Take away their illegal gains. Return it to the victims.
I also don’t like that people are making money by getting people hooked on drugs or by human trafficking. I would like to help stop them, but I’m not in law enforcement. I’m not a judge or a law maker. How can I contribute?
Part of your contribution is through AML compliance. It’s not just ‘more paperwork’. It contributes to the identifying, arresting, and charging of criminals. You may not see it directly, but that form you filled in may have been that last, crucial piece that breaks the case. Be personally invested in the process, believing your observations and insight will make a difference. Don’t forget! Your work has real value.
Enjoy the Process
Furthermore, all the people learning the dance enjoyed what they were doing. It’s tough to do a job you don’t enjoy, so develop your own enthusiasm for learning and doing. This is why your ‘why‘ is important. I was taught, many years ago, that learning is an exciting adventure. I still feel that way today.
I know, this sounds like a tall order, but it makes a huge difference. Enjoy being one of the good guys. You know who the good guys are, right? They’re the heroes of the story.
Building a Culture of Compliance
What does it take to build a culture of AML compliance at your workplace? We’ve all heard the phrase, ‘the tone starts at the top.’ Leaders have great influence on an enjoyable workplace. That’s different from a frivolous workplace, or a lax workplace. It’s a workplace where everyone can contribute and be valued.
As you step back into your daily routine, remember ‘the dance’. Embrace the shared vocabulary, invest personally in your role, and find joy in the journey. Your efforts in AML compliance are part of a larger, meaningful performance. You’re not just filling out forms; you’re helping to catch the bad guys and make the world a safer place. Remember – your work matters, and so do you.
We have both American and Canadian training. Our American catalogue is here, and the Canadian catalogue is here.
