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GRC Professional : GRC Autumn 2012
enD noTe 40 GRC Professional • Autumn 2012 My career » What was your first job? My first paying job was as an electrician’s labourer which Idid during schoolholidays. Being the smallest (and most junior) I got all the best bits, like crawling through roof cavities, burrowing under floors and generally doing allthe most unpleasant tasks. There is nothing more enjoyablethan crawling through the roof of afactory in the middle of summer. » how did you get involved in compliance? Like a number of people, I fell into compliance around the time of the Managed InvestmentsActin 1998–99 . Having previously been in an admin unit and spent a lot of time dealing with clients, I had a background in the product rules and requirements, and was asked to join the project team. This included applying for the relevant licences, drafting compliance plans and setting up all of the internal procedures. Once the project wound up, I moved into a real compliance role as part of the corporate team, and my career has moved on from there. » What was you hardest day at work? I’ve had plenty of hard days, especially when trying to meet the deadlines for Financial Services Regulation implementation. There were times when my wife would book time in my diary on the weekend so she could see me. But the most memorable work day started when I woke up and didn’t know where I was. Having arrived back in Sydney from a business trip in Europe, I jumped on another plane to Auckland on Sunday afternoon. My body clock was fried. Work on Monday was a fog, but Tuesday was just horrible, with the worstjetlagIhave ever experienced. » What was the best moment of satisfaction in your work? Closing off big projects always gives me satisfaction, but I still go back to my first-ever compliance project. Being completely new, there was a lot of guesswork, and even thevarious consultants we worked with were flying a bit blind since there were no precedents to work from. Having all of our compliance plans approved and getting the products out without a major problem was a great achievement. » What tips would you give to governance, risk and compliance managers to take their career to the next level? It’s important not to be too precious about things. My career has had its ups and downs, but in the end you have to enjoy what you are doing. And remember that sometimes the goodthingsteachyouless than the not-so -goodbecause they strip out all complacency. Accept and be receptive to the fact that anything can be used as a learning experience. For example, my work training four- and five-year-olds at Little Athletics helps reinforce that simple explanations are best; that repetition and learning by doing is critical (it’s not only kids who don’t understand theoretical concepts); and that everyone learns at a different speed and with adifferent capacity. ••• TroY DalY Head of Compliance and Permanent Control at BNP Paribas Investment Partners ACI member Troy Daly reflects on a varied career that has led him to his current role as Head of Compliance and Permanent Control at BNP Paribas Investment Partners.
GRC Summer 2012
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