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May 22, 2010 by Denise Valentine

I’m feeling sad today. In fact, I lay awake this morning reflecting on dozens of conversations I’ve had with compliance officers at asset managers, hedge funds, and broker/dealers. It’s difficult not to empathize. I don’t recall ever feeling this way after interviews in other functional areas…

Here are people with a job that is growing in range and responsibilities, in effect expanding into operational risk, yet they have few to no resources. Compliance is considered a cost center — in and of itself a death knoll in a time of cutbacks — not that compliance departments had a budget before the crisis. Instead, the compliance officer must build a business case and go hat in hand to management, timing a good day of course. Few are optimistic.

May 21, 2010 by Clark Troy

As the financial crisis and its aftershocks roll on, vigorous discussion continues about how America’s retirees, whose needs are more and more met by defined contribution plans like 401(k)s and 403(b)s, will be able to fund their retirement. Considerable hopes have been pinned on encouraging retirees to roll their savings into annuities.

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