Communication and relationships is increasingly critical for compliance teams

Compliance is increasingly in the spotlight as companies are tackling everything from artificial intelligence and other new technologies to risk management and mitigation. But it’s soft skills of communication and relationship building that are becoming the most critical tools for success.

Regardless of their industry or issue, speakers and attendees at Compliance Week’s Third-Party Risk Management Summit in Austin, Texas found that a consistent first step they all agreed on was increased communication outside their teams. For attendees from the tech sector, that meant connecting with typically siloed product teams. For others from finance, it was helping their peers understand fast-evolving regulatory changes. Attendees from manufacturing and retail companies discussed their responsibility to define standards for their industry.