Vanessa van der Does

Maarten: Vanessa van der Does, thanks for taking the time to talk to us in the run-up to the Leaders in Finance Compliance Event on the 18th of September. Could you tell us a bit about yourself?

Vanessa: Yes, of course. I’ve been in financial services for nearly 25 years. I never planned to stay that long, but new opportunities kept sparking my interest. I’ve worked across various areas, including business and IT, and was Head of Compliance at Delta Lloyd. After the merger with NN, I became Chief Procurement Officer there. About a year ago, I returned to the role I enjoy most: Chief Compliance Officer.

Maarten: It’s probably hard to summarize, but if you had to try—what makes your current role as Chief Compliance Officer at NN so interesting?

Vanessa: The financial services industry is at the heart of everything happening in society. And within that, compliance sits at the heart of the company. Whether it’s geopolitical tensions triggering sanction laws, or issues like sustainability, greenwashing, or Personal misconduct, it all falls under compliance. That’s why working in compliance means being right at the centre of society. You’re not just advising; you’re actively engaging with the business on various issues. And that’s exactly what makes it so interesting for me.

Maarten: So NN Group operates in insurance, pensions and banking. A financial institution of this size sounds like a complex place. You’ve already mentioned a few things, but what are the biggest challenges right now in your role in compliance?

Vanessa: I think, just as you described, it’s the broadness of the role and the sheer volume of legislation and regulatory scrutiny on the financial services industry. At the same time, there is a need for cost efficiency. You can’t just keep adding staff. So yes, addressing those challenges while building a bridge to the business and explaining the value of compliance and the regulator’s expectations—that’s the real challenge.

Maarten: You mentioned you worked in the business before moving into compliance. Do you think that experience is important for others in your team too—and more broadly, for the future of compliance?

Vanessa: Yes, I believe so. You need a balanced team. Not everyone has to know everything, but a strong connection with the business — and a real understanding of the impact of the controls we design — is absolutely essential. You can create the most brilliant policy, but if no one implements or understands it, it’s useless. Realistically, you’ll never have enough people to check every detail. And I don’t want to be a policewoman anyway. So, you have to make sure that the first line knows what’s expected of them.

If you understand what they’re dealing with daily, you can advise in developing controls and policies that actually work and fit into their routines. In the end, compliance isn’t the second line’s responsibility — it’s the first line that needs to comply. Our role is to support and enable them.

Maarten: Yes, it seems everyone touches compliance in some way. What are some trends or examples from the past year that really caught your attention, or perhaps even concerned you?

Vanessa: I think the AML-area—money laundering—is a big one. Especially in the Netherlands, many CEOs are genuinely concerned: if we don’t do enough, could we end up being prosecuted. That creates a difficult dynamic. On the one hand, you want to be open, transparent, and report what isn’t okay. On the other, you want to protect your board. That dynamic is interesting. Personally, I don’t think personal fines help promote transparency.

Then there’s the geopolitical tension—take Ukraine and Russia. The resulting sanctions raise big questions: how do you monitor that? How do you build it into your systems? Things change so fast that you really need to stay on top of it every day.

And then there’s AI, especially the upcoming AI Act, which keeps us busy. From a sustainability perspective, there’s increasing focus on greenwashing—and now also greenhushing. That, too, has a connection with the scope of compliance. A lot is happening: from the Omnibus regulation to CSRD and the CSRDDD. It’s all redefining the scope of compliance—and that’s been a real challenge this past year.

Maarten: The scope is broad—ranging from AML to geopolitical tensions, AI developments and the AI Act, to sustainable finance and greenwashing risks. It seems like a complex environment to navigate. How do you keep up, especially with things evolving so quickly?

Vanessa: Yes, that’s true. Fortunately, we have very capable people. Not everyone is an expert in everything, but in our matrix organization, all areas are covered. Someone’s always monitoring legislation, also from a legal perspective. There’s a lot going on—you really have to stay sharp, keep up with developments, and translate that knowledge to inform the business.

Maarten: At the upcoming Leaders in Finance Compliance Event, you’ll be on the Chief Compliance Officer panel with peers from Triodos Bank, PGGM, and Van Lanschot Kempen. The focus is on compliance in technology-driven innovation. Speaking of technology — just to kick things off: do you see it more as an opportunity for compliance, or more as a risk?

Vanessa: I think the fair answer is a bit of both. At NN Group we’re really at the forefront of AI, with a clear ambition in this area. But that also means we’ve set up policies, procedures, and committees to ensure everything aligns. Compliance plays a central role in that.

We have strict rules — like ‘always keep a human in the loop’. In that sense, it sometimes feels like we need a daily update just to keep pace with our ambition. At the same time, there’s a real risk: can we still control it? Especially with agentic AI now emerging, things are evolving incredibly fast. We have to keep educating ourselves and stepping up.

But there’s also a big opportunity. The world around us is complex and fast-moving. Translating developments into the right policies takes enormous capacity — and that’s where AI can support us. Maybe not AI in the strictest sense, but take automated testing, for example — it frees up time. Or AI-tools that help interpret legislation and translate it into policy drafts — that would make us more effective.

So, it’s two sides of the same coin. I see the risks and the need to stay in control and do right by our customers. But AI also helps us stay in control, because we can’t keep expanding capacity every time there’s new legislation. It’s both — and it’s a constant balancing act.

Maarten: I have so many follow-up questions, but we’ll save those for the event. So, final one from us at Leaders in Finance: what would you say to someone just starting out in compliance, or thinking about switching from a business role?

Vanessa: I honestly think it’s the coolest job on earth. I think it’s fair to say that everything happening in society—it all has a connection to our scope. If you’re open-minded and want to think about big issues, this is the place to be. At the same time, you need to be data literate. That’s really at the heart of our work. If you don’t enjoy that, it’s going to be tough. When I’m hiring, I focus on skills. Coming from the business can be a real advantage. Understanding how processes work—that connection is harder to teach than technical compliance knowledge. I can get someone up to speed on content, but bridging gaps and seeing how things tie together is what makes the difference.

So, if you’re serious about compliance, go for it. Be data literate, be comfortable with people—it’s a communication business—and stay sharp. You might not win the popularity contest, but if you can connect well, you’ll add real value.

Maarten: Thanks for taking the time to talk to us, Vanessa, and for sharing your insights ahead of the event. I’m really looking forward to hearing more on September 18th — see you soon!

Vanessa: Thank you very much for all the questions. I’m looking forward to it!