Risk and compliance as strategic growth partners
Author: Maggie Chan
The current risk and compliance environment – an age of regulatory resets and rapidly evolving technology – is the best time to rethink the roles of risk and compliance in a bank of any size.
Risk and compliance can help a bank achieve strategic goals and efficiency, but they must move beyond their traditionally reactive roles and become proactive partners that help shape business strategy and support growth, according to Ryan Rasske, the ABA’s senior vice president for risk and client markets, who moderated a panel session on the topic at the 2026 ABA Risk and Compliance Conference.
Compliance: It serves as a protective fence and a green light
Compliance in today’s banking environment is a shared responsibility that is integrated across lines of business, providing compliance officers with incredible opportunities to serve as strategic partners for growth.
As bank leaders look for efficiencies and ways to cut costs, compliance can demonstrate that its function is as much a value-add to the bank as a hedge.
Compliance now has access to so much data — data that can be used to inform business strategies and help greenlight new areas of revenue growth.
“We can add real insight into what we’re doing well and what we’re not doing well,” comments Lisa Grigg, chief compliance officer at US Bank. With compliance data, we “can be a real strategic player as we think about what to do next.”
Data is not just about identifying weaknesses, Rasske says, but about showing where opportunities exist. With data, compliance can be the one to say, “We can help you achieve this.”
As an example of compliance data as a strategic asset, Renee Huffaker, executive director of business risk and compliance at Arvest Bank, says officers can assess the extent of manual controls in planning technology upgrades and implementations to improve the operational risk profile and overall efficiency.
“The more data we can use to talk to the company, that’s really their language and how they’re going to get value from us,” she says.
Risk: Quantify and communicate value to facilitate progress
For risk managers who want to support the bank’s strategic goals, it is crucial to be involved in the decision-making process from ideation to implementation.
To do this, risk managers must build relationships, credibility and trust within the bank so that their contribution is valued. Risk managers must also understand the bank’s business to determine the best and earliest risk management point to consider in making a decision, then communicate and demonstrate the value of the decision.
To get value, translate data into measurable benefits, says Nicholas Baxter, EVP and chief risk officer at First National Bank of Omaha. He says the risk should be asked, “Is this worth it?”
Risk is often thought of as a drag on operations, Rasske explains, but instead you should show up at the decision-making table and ask, “How can I help you achieve your strategic goals?”
“We have to fill in the gaps to move forward,” Baxter adds. “We’re not at the table necessarily representing risky infrastructure. We’re here to call some babies ugly when they are.”
Risk management has the advantage of history, and risk officers must use this to their advantage. “Bring the relevant facts to the table in a way that is seen as constructive, as moving forward, and then tie that back to corporate strategy,” advises Baxter.
Maggie Chan is a senior writer at ABA Banking Journal.
