On September 3, the Worldwide Compliance Affiliation (ICA), in collaboration with LRN, hosted a webinar to highlight the winner of the ICA Compliance Tradition Initiative of the Yr Award — a class proudly sponsored by LRN. The award went to Wirex in recognition of its bold and transformative compliance tradition program, which has reshaped the way in which compliance is embedded throughout the group.
Meet the audio system
The session, moderated by Pekka Dare, introduced collectively Ty Francis, Chief Advisory Officer at LRN, and Dhanush Lodhia, EMEA Head of Compliance at Wirex to discover the challenges, methods, and outcomes that made Wirex’s program a standout success.
- Pekka Dare (President, ICA): Pekka led the dialogue, guiding the viewers by means of the important thing points on the coronary heart of tradition change and compliance effectiveness.
- Ty Francis (Chief Advisory Officer, LRN): A protracted-time thought chief in ethics and compliance, Ty introduced the angle of each a choose for the awards and a practitioner advising international organizations on tradition measurement and program effectiveness.
- Dhanush Lodhia (EMEA Head of Compliance, Wirex): Representing the award-winning program, Dhanush shared Wirex’s journey in reshaping its compliance tradition from siloed and reactive to collaborative, clear, and sustainable.
Why Wirex Stood Out
Wirex’s initiative was acknowledged as a transparent winner for a number of causes:
1. Addressing cultural challenges head-on: When this system started, compliance at Wirex was seen as a “departmental” accountability somewhat than a shared organizational worth. This led to siloed working, finger-pointing, and inefficiencies. Wirex got down to change this by making compliance everybody’s job, from senior management to front-line groups.
2. Management Purchase-In and the Danger Tradition Framework: Wirex launched its “Danger Tradition Framework” with robust assist from the board and senior executives. By bringing collectively stakeholders from compliance, HR, buyer assist, and different groups, this system embedded compliance into the agency’s DNA.
3. Information-driven strategy: The staff performed a tradition survey utilizing the Institute of Danger Administration framework, assessing components reminiscent of accountability, transparency, decision-making, and governance. This information helped prioritize efforts and supplied a baseline for measuring progress.
4. Constructing psychological security and engagement: Wirex inspired staff to boost points by celebrating, not penalizing, those that spoke up. Initiatives just like the “Good Information Channel” and small recognition rewards strengthened optimistic behaviors, serving to construct belief and psychological security throughout the enterprise.
5. Transparency and communication: Outcomes from surveys have been shared brazenly, each the positives and areas for enchancment. This transparency constructed credibility and confirmed staff that management was listening and performing on suggestions.
6. Measuring impression and sustaining change: Progress was tracked utilizing each arduous and gentle metrics—from elevated reporting of threat incidents (an indication of belief within the system) to stronger cross-functional collaboration. Importantly, Wirex embedded compliance tradition as a steady journey, not a one -off challenge.
Judges’ perspective
As an award choose, Ty Francis emphasised that Wirex’s program demonstrated vulnerability, transparency, and long-term dedication—qualities typically lacking in compliance initiatives. What stood out most was Wirex’s capacity to make tradition change each an inner driver of worker belief and an exterior aggressive benefit, strengthening relationships with regulators, companions, and prospects alike.
Key classes for compliance leaders
- Safe management buy-in early, however have interaction all the group.
- Use information to diagnose cultural gaps and monitor enhancements over time.
- Prioritize psychological security so staff really feel secure to talk up.
- Be clear about challenges and share progress, good or unhealthy.
- Assume long run—tradition change is a marathon, not a dash.
The Wirex story highlights how compliance can transfer past being seen as a “blocker” to turning into a driver of resilience, belief, and sustainable enterprise progress.
When you missed the session and wish to hear what was shared in additional element, you possibly can watch the on-demand model of the webinar right here.
