8 episodes

This is a place where FinTech compliance, regulations and risks are made simple and fun. Your host, Yana Afanasieva, corporate dropout turned entrepreneur, introduces you to pragmatic risk acceptance and agile compliance that scale, challenges financial industry conventional wisdom, and wholeheartedly believes that dashboards and automation often make much better job than humans.

Compliance That Makes Sense Yana Afanasieva

    • Entrepreneurship

This is a place where FinTech compliance, regulations and risks are made simple and fun. Your host, Yana Afanasieva, corporate dropout turned entrepreneur, introduces you to pragmatic risk acceptance and agile compliance that scale, challenges financial industry conventional wisdom, and wholeheartedly believes that dashboards and automation often make much better job than humans.

    How Compliance Experts Can Make More Money

    How Compliance Experts Can Make More Money

    Are you looking for ways to make more money in compliance? Listen, as Yana discusses how people working in compliance, risk, internal control, or audit professionals who work in FinTech can make more money. Yana shares the pros and cons of three different ways she believes you can make more money as a compliance expert. Changing jobs, becoming an independent board member with another startup, and becoming a paid advisor or a co-founder of a new startup. Listen to Yana's opinions and see if you agree on this episode of Compliance That Makes Sense. Want more - subscribe to Yana’s super popular newsletter everyone is talking about!
    If you enjoy this episode, please share it with friends, leave comments and reviews, and join the conversation. 
    Today's episode:
    [00:34] Hello, my friends, and welcome back! [01:15] Yana shares the first way she believes you can make more money. [04:00] They like to believe that the next opportunity will allow them to stay for a long period. [05:39] Yana discusses her main objection to changing jobs. [07:39] Becoming an independent board member with another startup is the second way you can make more money. [11:08] There might be some exposure and liability if you don't have good oversight, but the experience can be a learning opportunity. [13:34] Yana believes compliance know-how is not always on the list when looking to grow a startup, you must argue how you can add value. [16:24] The third way is to become a paid advisor or co-founder for a new startup and help them grow. [17:09] Yana shares the pros and cons of this option. [19:56] Yana says that compliance experts don't normally have a lot of free time, making the time count. [22:39] Thank you for listening. Show links:
    Follow Yana on Instagram and check out our new training calendar for the latest workshops and trainings.

    • 23 min
    007 - How PayPal is Offering Crypto to Customers

    007 - How PayPal is Offering Crypto to Customers

    Have you been thinking about investing in Bitcoin? Listen, as Yana discusses the announcement that PayPal recently made in Europe about their partnership with bitFlyer. Yana also explains what that another announcement means for PayPal customers in the U. S. and how it affects you if you want to buy cryptocurrency. Yana also explained why this announcement is a good thing for PayPal customers interested in getting involved with cryptocurrency but never knew where to start and for the FinTech industry, so listen to her discussion on this episode of Compliance That Makes Sense.
    If you enjoy this episode, please share it with friends, leave comments and reviews, and join the conversation. 
    Today's episode:
    [00:34] Hello, my friends, and welcome back! [01:15] Two months ago in Europe, Paypal announced that they would partner with bitFlyer. [02:43] Yana says that PayPal will not be buying and selling any cryptocurrencies. [04:04] Yana explains what will happen if a PayPal customer wants to buy bitcoin. [05:30] This is good news because many customers of PayPal will now be able to hold bitcoin inside of their account. [06:31] It's limited news because the only way to sell what you buy from PayPal, you can only sell back to them. [07:02] This also applies to deposits and withdrawals of bitcoins. [08:22] Yana speaks about the limits per day, per month, and per year that PayPal has issued. [09:57] Are smaller players going to be squeezed out by larger players? Or is there still room for smaller companies? [12:07] Yana discusses the statement PayPal has made that through PayPal, their merchants will accept bitcoin for merchant transactions. [13:53] Yana talks about how this is a huge opportunity for the FinTech industry. [15:38] Thank you for listening! Show links:
    Follow Yana on Instagram and check out our new training calendar for the latest workshops and trainings.  

    • 16 min
    Central Bank Digital Currency: Good or Bad?

    Central Bank Digital Currency: Good or Bad?

    Do you know what CBDC is? Listen as Yana discusses what has happened recently in the CBDC space, what the powers that be have determined, and whether cash would still be distributed. Yana speaks about the issues the CBDC and international authorities have with distributing digital money, the need for some kind of stable coin that will allow people to pay and get paid instantly, and what it would mean for FinTech. Yana has great insight into this issue, so listen to her discussion on this episode of Compliance That Makes Sense.
    If you enjoy this episode, please share it with friends, leave comments and reviews, and join the conversation. 
    Today's episode:
    [00:34] Hello, my friends, and welcome back! [01:28] Listen as Yana shares what has happened recently in CBDC. [03:50] Yana speaks about the issues governments had getting money to people during the pandemic. [05:55] Central Banks and other international authorities don't like cash payments because they're a heavy operation to manage. [07:05] Yana shares its biggest issue with giving people digital money. [10:11] Yana explains what this means for FinTech. [13:16] Yana believes that regulatory attention to stable coins will grow, and she will expand on it in a different episode. [13:53] Thank you for listening! Show links:
    Follow Yana on Instagram and check out our new training calendar for the latest workshops and trainings.  

    • 14 min
    When Does it Make Sense to Hire a Compliance Professional?

    When Does it Make Sense to Hire a Compliance Professional?

    Are you hesitant to hire a compliance expert because you are not sure if you need one? Listen as Yana discusses when it's time to hire a compliance person into your FinTech team and what happens if you unnecessarily delay this decision. Hiring someone from your team that is not a compliance expert to write compliance documents takes forever, can make your company look immature and cause delays. Hiring a compliance expert can keep your company from making mistakes that can potentially get you in trouble and much more on this episode of Compliance That Makes Sense.
    If you enjoy this episode, please share it with friends, leave comments and reviews, and join the conversation. 
    Today's episode:
    [00:34] Hello, my friends, and welcome back! [01:38] Yana speaks about the most common issue she sees happening with startups. [03:45] One of the common mistakes she sees a lot is using marketing slang and doesn't describe details in the way it is expected. [04:55] Another strategy that isn't working is to just do nothing about hiring compliance professionals. [06:31] Hiring consultants instead of a compliance expert is expensive and slow. [08:42] Yana says hiring a big four is not a safe bet if you want speed and progress. [10:08] Is crowdsourcing information a good way to bypass hiring a compliance expert? [12:13] Yana recommends hiring a compliance person when you have to do it by law or if you aren't required by law, but you regularly need to submit documents to others. [13:43] It's necessary to hire a compliance expert if you have 20 or more active customers at any given time. [15:17] Thank you for listening! Show links:
    Follow Yana on Instagram and check out our new training calendar for the latest workshops and trainings.

    • 15 min
    True and Fake Reputational Risks in Fintech

    True and Fake Reputational Risks in Fintech

    Do you know what constitutes reputational risk? In this episode of Compliance That Makes Sense, Yana discusses reputational risk, and she believes her view on this topic might not be very popular. Listen, as Yana shares some examples she has seen and some examples of what others might call reputational risk, but she disagrees with them. At the end of the episode, she plans to give some clarity on both spectrums, so sit back and listen to Yana's insights and see if you agree with her take on reputational risk.
    If you enjoy this episode, please share it with friends, leave comments and reviews, and join the conversation. 
    Today's episode:
    [00:34] Hello everyone, and welcome back! [01:22] Yana defines what she believes is a true reputational risk. [04:21] She also gives an example of what she doesn't believe is reputational risk. [04:33] Yana shares some potential reputational risks some companies make. [06:08] Yana speaks about the point she is trying to make. [07:35] What about controversial figures? Yana shares her views on this question. [09:41] Listen as Yana gives an example of what she doesn't believe is reputational risk, but others do. [13:13] If you look at Yana's example from a purely legal perspective, all the people violated their financial provider's terms, but the intention was good. [15:17] Reputation is something that may have a long-term impact, negative or positive. [17:22] Yana thinks in the absence of the profound and clearly defined reputational risk; the moral and ethical consideration is personal. [18:16] The first question a compliance person should ask themselves is whether this is legal. [19:33] See you next week, bye for now! Show links:
    Follow Yana on Instagram and check out our new training calendar for the latest workshops and trainings.

    • 20 min
    Why Are Compliance Professionals Underpaid?

    Why Are Compliance Professionals Underpaid?

    Today Yana discusses why she believes that compliance professionals are paid less than other people in the company. Often, compliance is put in a category with things you must do because the government requires it, like paying taxes. It then puts the burden on the compliance officers to prove their value and how they can add to the company's bottom line. Listen as Yana shares how she priced her services and showed her value when she got into compliance, plus much more on this episode of Compliance That Makes Sense.
    If you enjoy this episode, please share it with friends, leave comments and reviews, and join the conversation. 
    Today's episode:
    [00:34] Hello everyone, and welcome back! [01:24] Yana believes that companies often pay compliance people less, and she shares why. [02:13] It's hard to quantify how much value compliance adds. [03:46] You end up triggering different incentives and logic about compliance if you try to compare it to something people have to do, like paying taxes. [04:33] Yana discusses how she priced her services when she got into compliance. [05:39] Yana shares an example of how she can quantify her value with the company. [07:35] Bye for now! Show links:
    Follow Yana on Instagram and check out our new training calendar for the latest workshops and trainings.  

    • 8 min

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