Name: Wendy Fraulo
Title: chief financial officer
Time with COMPLY: One year
Walk us through a day in your life. What are some of your biggest projects at the moment?
Every day I think about three things that are interconnected — cash, key metrics and this year’s strategy. Cash is king — if you don’t focus on cash, you could lose it all. And our two key metrics are the guides to measure our success in achieving our strategy.
Over the last year, I’ve been working on transformation projects from our recent acquisitions. I’ve been impressed with our ability for the teams to come together so quickly and keep driving great products and service to our clients. Our culture has been the rocket fuel for the 2022 strategic journey.
What is your strategic vision for your department? How has your prior experience shaped your vision?
My strategic vision is to build a team focused on finance excellence. This is our ability to produce relevant, timely and accurate business which is reliable and usable internally and externally. We convert data to information and make it powerful.
My foundation came from Big 4 accounting, which is focused on being technical and compliant. I started learning how to be a good business partner during my first chief financial officer (CFO) role and I took advantage of opportunities to take courses at Harvard, Stanford and Columbia to help me grow. I am a life time learner and always want to find new ways for the finance team to contribute more to our organization’s growth.
Given your role as CFO, you have a unique view of the company. How have the acquisitions bolstered COMPLY and its long-term goals?
Our mission is to be the first call for compliance teams. Each acquisition plays a unique part of that mission. Technology is in our DNA and each acquisition added modules and functionality to the help compliance teams who use our SaaS platforms to operate with a higher level of confidence in their roles.
We also added more subject matter experts and thought leadership from our acquisitions and expanded our market reach within the financial service industry. We want to meet our customers where and how they need our services.
What have been some of the biggest accomplishments in the first half of 2022? And where do you see the most opportunity as we close out the year?
My biggest accomplishment of 2022 to date has been converting six accounting systems to one. It was incredibly difficult and I’m so grateful to my team and consultants who put in tremendous effort and long hours over the last eight months. I still giggle when I’m able to run repots in one place. The rest of the year is focused on developing our 2023 plan and delivering my vision of finance excellence.
In terms of company-wide accomplishments, we are scaling (read in my best Oprah impression). We are meeting some incredibly difficult financial goals and have hired almost 100 new team members through the first half of the year. This is in the face of strong macro economic headwinds. Our focus is on growth.
Switching gears, COMPLY is known for its diversity, especially in its executive leadership team where 50% are women, notably high for an industry where according to Deloitte only 25% of leadership positions in Fortune 500 companies are held by women. Can you speak to that aspect of the COMPLY culture?
Amy is an amazing torchbearer for diversity and inclusion at COMPLY and she sets the tone for our amazing and unique culture. I believe diversity in race, gender, mindset and perspectives are drivers of higher growth through better communication.
Finally, what’s your go-to coffee order?
I love coffee. Lately, my go-to order is a red eye.