As a risk and compliance manager, over time, I’ve found developing an informal network at the companies I’ve worked for has been invaluable. While formal processes and structured compliance programs are essential, it is often the informal relationships that provide the early insights and collaboration necessary to manage risk effectively.
Why is an informal network so valuable? First, risk and compliance management is not a siloed function—it touches nearly every department, from finance and IT to operations and HR. Having an informal network allows for the flow of information in a way that a structured reporting system sometimes cannot. Colleagues are more likely to share emerging concerns, regulatory shifts, or operational challenges in casual conversations than in formal meetings. These early signals can help risk and compliance teams act proactively rather than reactively.
Second, trust is a cornerstone of effective risk management. By building relationships across departments, compliance professionals can create an environment where employees feel comfortable raising potential issues before they become full-blown problems. A strong network fosters a culture of openness and cooperation rather than fear of repercussions.
Third, an informal network enhances agility. When an unexpected compliance challenge arises, having established relationships across departments makes it easier to find solutions quickly. Instead of navigating bureaucratic red tape, you already know who to call for guidance or immediate action.
So, how can you build an effective informal network across company departments?
- Engage Beyond Your Department – Attend team meetings outside of your immediate compliance function. Volunteering for cross-functional projects or committees provides natural opportunities to connect with colleagues in different roles.
- Be a Connector – Introduce people across teams who could benefit from knowing each other. When colleagues see you as someone who facilitates communication, they will be more likely to turn to you when they need compliance guidance.
- Leverage Common Spaces – Casual interactions in break rooms, hallways, or company events are excellent opportunities to engage with colleagues informally. A simple “How’s your project going?” can open the door to valuable insights.
- Build Rapport Over Time – Relationships aren’t built overnight. Regularly check in with colleagues, whether it’s a quick chat about a shared interest or offering to help with a challenge they’re facing.
- Use Technology to Stay Connected – With hybrid work environments becoming more common, digital connections are just as crucial as in-person ones. Utilize company chat tools, virtual coffee meetings, or internal social platforms to maintain and strengthen your network.
- Be a Trusted Resource – Share relevant insights, industry updates, or compliance tips in an approachable way. When people see you as knowledgeable and helpful rather than purely as an enforcer of rules, they will be more inclined to keep you in the loop.
Building an informal network doesn’t mean bypassing formal processes—it means complementing them with a human approach. In the fast-evolving landscape of compliance and risk, relationships can often make the difference between catching a risk early or dealing with a crisis too late.
By proactively developing connections across departments, compliance professionals not only make their jobs easier but also contribute to a stronger, more resilient organization. A well-connected risk and compliance team is an effective one—so start building those bridges today.