Compliance is top of mind at many firms today. Here's what makes a great compliance officer, no matter who takes the role.

1. Be a student and a teacher. Know the rules and regulations that govern our industry. Remain current on changes that take place. Be able to train others in their compliance responsibilities.

2. Act as an advisor to top management on compliance matters. Rather than citing rules and putting the nix on marketing ideas, determine how best to implement them in a manner consistent with the regulations.

3. Analyze and resolve issues. Find the gaps in your firm and how to fill them. Develop processes to supervise for compliance.

4. Be empowered with full responsibility and authority to develop and enforce appropriate policies and procedures for the firm. Have a position of sufficient seniority and authority to compel others to adhere to policies and procedures.

5. Be assertive to request the proper resources. Be gentle in your assertiveness to get your message across and be heard.

Nancy Lininger is founder/consultant of The Consortium, providing compliance and marketing consulting to investment advisors and broker-dealers, and publisher of the CompliancE-News.