Episode 46: Meet James L. Smith

On episode 46 we’re joined by Core Compliance’s newest team member Senior Compliance Consultant James L. Smith. We'll get to know the newest asset to the team and learn a bit more about his own journey in the compliance industry. 

 

(GUITAR INTRO)

CCO Buzz: Hello and welcome back to the CCO Buzz! This week we are in for a treat, we have the newest member of the Core Compliance team Senior Compliance Consultant James L. Smith. James joins our team with years of experience in compliance, specifically in the broker-dealer sphere.

I’ve got a couple questions for you Jim, so let’s get started…

Compliance is an intricate industry and it’s a unique industry to break into, what drew you to the compliance as a career?

James Smith: So, to be honest, it wasn’t made by choice but more by necessity. An opportunity was presented to me at a small firm and at the time I was thinking about going to law school. And I thought, I’d do compliance for a little bit and kind of test the waters and see how I liked it. And as it turned out, I- I liked it (laughs) a lot. I was pretty successful at it and I just continued and decided that I didn’t want to go to law school.

CCO Buzz: Ok, you’ve got quite the professional background when it comes to compliance, do you mind telling us more about your professional journey?

James Smith: You know what – I’d be happy to. So, when I started in compliance I was working on distribution and administration and then I moved into portfolio compliance. And the thought around that was that I wanted to try and be as well-rounded as I could. And there were various avenues of compliance, whether its broker-dealer, investment advisor, [and/or] mutual fund compliance – and so really understanding the whole picture. I have made career choices in order to expand my knowledge, as well as experience a variety of firms, both large and small, to get an overall experience.

CCO Buzz: So, in all your years of work in the industry is there a specific area of compliance that has become a passion or specific focus for you?

James Smith: So, there’s really two answers to your question. I found that I enjoy educating people – whether it’s other compliance professionals or sales people about the risks that are involved in our industry, best practices, as well as good skills. And that’s become a passion over the years.

I’ve also found that you also want to continually enhance your knowledge and so sharing that knowledge with other professionals is also a passion.

CCO Buzz: OK, now lastly if there is anything you could leave our listeners with as a piece of advice for their own compliance programs?

James Smith: What I would say is to make sure you continually understand your business and understand if your business is looking to create new products [or] looking to enhance products, because what that will do is affect your compliance program. You may have to add additional policies and procedures. You should also stay in touch with your regulators and also understand the regulatory change that it is coming down the pipeline and be proactive.

CCO Buzz: Awesome, thank you so much for joining us today, Jim.

James Smith: Thank you.

CCO Buzz: Well that’s it for this week’s episode. If you’d like additional information, please check out our website at www.corecls.com. You can also follow us on Facebook, LinkedIn or Twitter @CoreCLS. Thank you and we hope you tune into next week’s episode of the CCO Buzz.

 

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