Compliance is a polarizing field. Either you love it, or you can’t stand it. Fortunately, when he was tapped by his employers to become a compliance officer, Ferol Hettick found that he loved the field. Since that time, he has taken on additional responsibilities and become the director of compliance for Trustmark National Bank. Although compliance as a field has had its ups and downs over the years, Mr. Hettick stresses to newcomers that the key to success is not knowing all of the answers, but rather, knowing where to find them.
Mr. Hettick is a believer in the power of teamwork. He does not truly feel successful unless his team is successful, and his confidence in his employees is such that he would pit them against any other team in the country and be confident in their success. Mr. Hettick encourages his staff to find ways to work with the needs of the bank, rather than simply turning down every request that seems unfeasible. This requires additional diligence, to be sure, as every angle of a proposal must be carefully scrutinized in order to find the necessary leeway to implement the requested changes. Nevertheless, Mr. Hettick feels that this can-do spirit and refusal to accept what seems impossible to be one of the hallmarks of his management style, and it is one of the aspects of his personality that he feels separates him from the majority of his competitors.
Though Mr. Hettick greatly enjoys his work as a compliance director for a bank, he is also aware of a major series of changes on the horizon that may drastically impact Trustmark National Bank’s success. In January 2014, eight regulatory mortgage changes will be made to the bank’s mortgage lending policies, which could limit mortgage lending. These added requirements, Mr. Hettick explains, could drive away lenders and cause them to drop out of the market. With this in mind, Mr. Hettick is looking to ride out the changes and groom a successor so that Trustmark National Bank’s compliance staff is left in capable hands upon his retirement. Continue reading