Accra: Barbara Dede Ama Okai-Tettey, a lawyer and Senior Compliance Manager at Stanbic Bank Ghana LTD, has urged risk and compliance professionals to evolve beyond a prescriptive mindset and embrace a more strategic, solution-driven approach that enables business growth and unlocks competitive advantage.
According to Ghana News Agency, speaking at Risk Summit 2025 on the topic: 'Compliance as a Catalyst: Unlocking Competitive Advantage Through Resilience', Ms. Okai-Tettey emphasized that the traditional model, focused solely on directives, is no longer effective in today's complex risk landscape. She noted that while risk professionals often prescribe specific actions, they frequently fail to provide the necessary context, which can lead to their being perceived as obstacles rather than enablers of business.
Ms. Okai-Tettey stressed that providing a rationale must be coupled with practical guidance. She pointed out that the true opportunity for competitive advantage lies in guiding businesses through both the reasoning and practical application of compliance measures. This approach, she argued, can significantly impact how compliance is perceived within an organization.
She advocated for a transformation in the engagement between compliance professionals and businesses, suggesting a collaborative approach that adds value. By shifting from a gatekeeping role to a supportive one, compliance teams can help businesses achieve their objectives within regulatory frameworks, thus changing the perception of their role.
Ms. Okai-Tettey encouraged compliance teams to step beyond traditional boundaries and contribute to resilience and innovation. She emphasized that to be recognized as strategic partners, compliance professionals must guide businesses in effective risk management, moving beyond mere identification of risks.
Addressing the role of leadership, she urged executives to reframe compliance as a tool for growth rather than viewing it as a cost center. By embedding compliance into business strategy, it becomes a driver of resilience, innovation, and long-term trust. Leaders, she argued, should integrate compliance into decision-making processes from the beginning.
Concluding her address, Ms. Okai-Tettey emphasized that the shift towards a proactive compliance mindset must start within the compliance function itself. By adopting this new mindset, compliance can transform into proactive business partners, shaping leadership and delivering value.
The 2025 Risk Summit brought together industry leaders, policymakers, and governance experts to explore the evolving role of risk and compliance in fostering business resilience, enhancing oversight, and navigating a rapidly changing regulatory landscape.
