Video | The Strategic Alliance of the CCO and CLO | Protiviti United States

In this engaging episode, we welcome a distinguished panel of experts who are at the forefront of compliance and risk management in the financial services sector. Moderated by Vanessa de Samame, founding partner of the executive search firm Hedley May, this discussion promises to provide invaluable insights into the dynamic relationship between legal frameworks and compliance strategies.

Meet Our Esteemed Guests

Joining us are two remarkable executives who have made significant contributions to the field:

Kate Ring, chief compliance officer at Stash Financial
- With over two million customers and approximately $100 million in revenue, Stash is a leading fintech company. Ring leads the compliance and risk management efforts across the organization, overseeing critical areas such as the broker–dealer compliance program, investment advisory bank offerings and anti-money laundering (AML) initiatives. Her extensive career includes nearly a decade at LPL Financial, where she honed her skills in compliance and legal roles.
Michelle Oroschakoff, board member at, and chair of the audit and risk committee at, Focus Financial
- Oroschakoff’s impressive résumé includes senior positions in legal compliance and risk management at Morgan Stanley and Fiser Investments. As former chief compliance officer (CCO) at LPL Financial, she has vast experience managing large teams and navigating complex regulatory landscapes.

Topics

Risk Management and Regulatory Compliance Legal Artificial Intelligence

The Journey from Legal to Compliance

In this episode, we delve into the transition between legal and compliance roles, highlighting the unique skills that each discipline brings to the table. Oroschakoff shares her perspective on how critical thinking — an essential skill for lawyers — translates seamlessly into the compliance realm. She emphasizes the importance of understanding compliance mechanisms and designing effective systems to address potential issues.

Ring complements this discussion by reflecting on her own journey from compliance to legal roles, underscoring the value of practical experience in shaping a more business-friendly approach to legal advice. Both guests agree that collaboration between legal and compliance functions is vital for organizational success.

Collaboration: A Key to Success

The conversation shifts toward the collaborative dynamics between chief compliance officers (CCOs) and chief legal officers (CLOs). Ring and Oroschakoff stress the importance of maintaining clear lines of communication and mutual respect between these roles. They discuss best practices for fostering collaboration, including regular meetings and joint initiatives that ensure that both departments work harmoniously toward common goals.

Oroschakoff draws on her experiences to highlight the pitfalls of poor collaboration, such as finger-pointing and blame-shifting, which can lead to disastrous outcomes for organizations. By establishing a culture of teamwork and shared responsibility, firms can mitigate risks and enhance their compliance frameworks.

Emerging Risks in the Financial Landscape

As technology evolves, so do the risks associated with compliance and legal practices. Ring and Oroschakoff explore the impact of artificial intelligence (AI) and regulatory uncertainty on their day-to-day operations. They discuss how AI can be leveraged to enhance compliance efforts while acknowledging the regulatory challenges that accompany its implementation.

The panelists also address the importance of staying ahead of emerging risks, such as cyber threats, by fostering a proactive compliance culture. They emphasize the need for continuous learning and adaptation to navigate the ever-changing landscape of financial regulations.

Key Takeaways for Aspiring Professionals

As the discussion concludes, Ring and Oroschakoff share their key takeaways for professionals looking to advance their careers in compliance and legal fields. They encourage listeners to seek mentorship and sponsorship opportunities that can provide guidance and support in navigating their career paths.

Communication emerges as a central theme, with both guests advocating for regular dialogue with business partners to ensure alignment and understanding. They remind viewers that collaboration should not be viewed as competition but rather as a shared mission to protect the organization and its clients.

Want to learn more? Listen to our other episodes from the Protiviti Legal Perspectives podcast to stay up to date on the latest trends and insights shaping the legal industry. For more information about Protiviti’s services, visit our website.