Compliance is No Longer Just About Checking Boxes: Yashwant Singh

Compliance expert Yashwant Singh opens up to Corporate World about the evolution of the field and why creating a culture rooted in ethics, transparency, and trust matters now more than ever

Over the past 25 years, Yashwant Singh has built a reputation as one of the most trusted names in the compliance and financial services space. Known for his calm leadership, deep regulatory insight, and unwavering commitment to ethics, he has played a key role in reshaping how compliance is viewed across industries—from a reactive checkbox exercise to a strategic, forward-thinking function. His journey is one of constant learning, mentorship, and a belief in doing the right thing, even when it’s not the easiest path. In this candid conversation with Corporate World, he reflects on the lessons he’s learned, the changes he’s witnessed, and the legacy he hopes to leave behind.

Q.    Give us an overview about your professional journey and how your experiences have shaped your unique leadership approach?

I started my professional journey 25 years ago and got the opportunity to work in some of the most prestigious organisations. The experience helped improve myself personally and professionally and gave me tremendous patience to handle tough situations and transform them into victory.

Time is life’s greatest teacher and no matter how challenging a situation can be, we can sail through it if we have patience. No obstacles last forever and what truly matters is the difference you have created in your own life and that of the others around you.

My leadership approach too is a direct reflection of the experiences that have shaped me both professionally and personally. The journey is ongoing, and I am continuously seeking opportunities to learn, grow, and refine my approach. I believe that the most effective leaders are lifelong learners who are committed to personal and professional development. 

Q.    With 25 years of experience in compliance and financial services, how would you describe the evolution of the compliance function during your career?

The compliance function in financial services has undergone a significant transformation over the past 25 years, driven by regulatory changes, technological advancements, and evolving business needs.

Initially, it was largely about ensuring compliance with basic regulatory requirements and managing risk after potential violations occurred. Now, it's about integrating compliance into the business strategy, fostering a culture of compliance, and actively monitoring and mitigating risks before they escalate.

Compliance is no longer just about checking boxes. It's about identifying, assessing, and mitigating risks across the entire organisation, from individual transactions to business strategy.

A strong compliance culture is crucial for effective compliance. Compliance departments now focus on training employees, promoting ethical behavior, and ensuring a culture of accountability. 

Previously, compliance was largely a reactive function—ensuring adherence to rules after the fact. Over time, financial institutions recognized the need for a risk-based approach, integrating compliance into strategic decision-making. Today, compliance teams proactively identify risks, anticipate regulatory changes, and provide strategic guidance.

Q.    You’ve earned certifications like NISM-Series-III-A—how important is continuous learning in your profession?

Continuous learning is crucial in the field of compliance as it helps professionals stay informed about evolving regulations, industry best practices, and emerging risks. This ongoing learning helps them maintain expertise, improve decision-making, and proactively mitigate compliance risks. It is also essential as regulations, risks, and industry standards are constantly evolving.  

Professionals must stay updated about new laws, policies, and global regulatory shifts and consistent learning ensures that. By staying informed, professionals can identify and address potential risks before they escalate into major issues.

Q.    As an Economics graduate with an MBA in Financial Management, how have your academic foundations supported your role?

An academic background in economics and financial management provides a strong foundation for the field of compliance in many ways. Economics equips one with insights into market behavior, financial systems, and macroeconomic trends, which are crucial for assessing regulatory impacts and compliance risks.

A financial management degree enhances one’s ability to analyse financial risks, implement compliance frameworks, and ensure regulatory adherence within financial institutions. Both disciplines emphasize quantitative analysis and financial modeling, helping leverage data for risk assessments, fraud detection, and compliance reporting.

Q.    How do you foster a strong compliance culture within your organisation, especially among non-compliance teams?

Fostering a strong compliance culture across an organisation, especially among non-compliance teams—requires a strategic approach that integrates compliance into daily operations rather than treating it as a separate function. 

Compliance should be accessible and understandable for all employees and it’s crucial to implement a robust training program, tailored to different roles and responsibilities. Regular training sessions, interactive workshops, and real-world case studies help non-compliance teams grasp the importance of compliance in their roles.

Rather than viewing compliance as a checklist, I encourage teammates to integrate it into workflows. This means designing processes that naturally encourage ethical decision-making and regulatory adherence. I also ensure that they feel comfortable to raise concerns without any fear. Establishing anonymous reporting channels and fostering a culture of transparency strengthens compliance efforts.

After all, compliance is not static—it evolves with regulations and business needs. Regular audits, feedback loops, and adaptability ensure that compliance remains effective and relevant.

By focusing on these key areas, I create a culture where compliance is not just a requirement, but a shared value that is embraced by all teammates.

Q.    What are your long-term goals as a compliance leader, and what legacy would you like to leave behind?

As a compliance leader, my long-term vision is centered on transforming compliance into a strategic pillar that supports sustainable growth. I aim to strengthen regulatory frameworks, foster ethical corporate cultures, and leverage technology for proactive risk management. It's about building systems that not only adapt to evolving regulations but also enhance operational efficiency.

I believe compliance should go beyond ticking boxes—it should be a forward-looking function that empowers organisations to act with integrity and resilience. A key part of this journey involves mentoring the next generation of compliance professionals, instilling in them the values of ethics, accountability, and innovation.

Engaging with regulators and industry peers is equally important to me, as it allows us to shape best practices and bring greater consistency and clarity to compliance standards across the board.

Ultimately, my goal is to leave behind a legacy rooted in integrity, transparency, and inspiration—a foundation others can build upon to achieve even greater success.