Vincent Salzinger, Marie Bourlond and Laurent Moser (ALCO): collaboration and compliance

According to Vincent Salzinger, Marie Bourlond and Laurent Moser, co-presidents of ALCO, compliance officers must demonstrate versatility in order to respond to an ever-changing regulatory framework. Interview.

 

Could you introduce ALCO in a few words?

 

ALCO is the association of Compliance Officers, created with the aim of bringing together professionals in the Compliance or Conformity profession and provide assistance in compliance-related tasks. This year, the association will celebrate its 20th anniversary. This milestone allows us to measure the progress made to date. Today, ALCO is made up of over 1000 professionals, mainly from the financial sector, who work together and reflect on the best answers in the face of increasing regulatory complexity. These exchanges are absolutely essential for all compliance officers, because they bring about aligned market practices and ultimately better solutions. The defining feature of ALCO is that it also leaves room for the small players, of which there are many in Luxembourg and who require responses on an appropriate scale.

"The working groups are the real heart and soul of the association."

How is the profession of Compliance Officer evolving?

 

The function of Compliance Officer has evolved significantly in recent years, and will most likely continue to do so in the future. It is a relatively new profession, which has adapted to regulatory changes in order to provide support to management and boards of directors. The aspect which most characterizes the profession these days is that there now exist multiple Compliance professions. The Compliance Officer is often a lawyer in charge of regulatory monitoring. They can also be a specialist in detecting money laundering mechanisms or fraudulent actions. They may have the role of communicator and educator in charge of awareness and training activities. And they may even be an IT specialist in charge of installing and configuring increasingly sophisticated IT solutions. They are sometimes also product specialists, and indeed this can go far beyond the simple regulatory and legal borders of Luxembourg.

 

What measures does ALCO put in place to facilitate their activity?

 

ALCO supports the activity of Compliance Officers by offering them access to information via its publications or events, by providing them with certification training - a long-standing partnership with the House of Training - and by offering them multiple forums for reflection and discussion through working groups. These groups remain the real heart and soul of the association. They have multiplied in line with the needs expressed by the members. For example, there are sectoral groups - a group representing the insurance sector or one which comprises Chief Compliance Officers from banks - or thematic groups – such as ones based on crypto-money, outsourcing or the fight against money laundering. In addition, ALCO maintains regular contacts with the authorities, such as the CSSF or the FIU. It also sits on the ABBL's Professional Obligations Commission and on the National Anti-Money Laundering Committee, with the aim of representing its members and keeping them informed at all times.

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