Michael Kavanagh is the CEO of the Compliance Institute (the professional body for compliance professionals), incoming Vice-President of Chartered Accountants Ireland and Chair of the IIPA (Irish Inter Professional Association – the Association for Professional Bodies in Ireland).
By Héloïse Chaudot
What are your main priorities and goals in your role?
To ensure that the Institute equips compliance professionals with the necessary competence and skills to undertake their roles professionally and ethically, as well as providing a platform for networking and representing the interests of the profession.
What are your biggest challenges as CEO?
Servicing members’ needs in an increasingly complex and rapidly evolving regulatory environment remains a key priority. Over the past year, the most significant challenge facing financial services organisations has been the sheer volume of new regulations introduced at the EU and Irish Government level, as well as by local regulators like the Central Bank.
As the professional body representing compliance practitioners responsible for implementing these regulatory changes within their organisations, it is our role to support our members by leading the development and expansion of relevant education and continuous professional development programmes to ensure they are equipped to meet these evolving demands.
How do you keep your team/staff motivated?
Creating a culture of collaboration is essential, ensuring all team members are actively involved in decision-making and goal-setting for the year ahead. Once targets are agreed upon, the team is empowered with the autonomy to deliver on those goals. Clear and open communication in the workplace underpins any team’s success, fostering trust, accountability, and strong performance.
What are the challenges facing the industry going forward?
The pace and volume of new regulations remain a challenge. In our 2025 Heads of Compliance survey, nearly 40% said they feel uneasy or overwhelmed by the growing number of requirements, reflecting a sector under sustained pressure. Our research has flagged that intensifying EU and international obligations risk eroding the competitiveness of Ireland’s financial services sector.
What new trends are emerging in your industry?
The financial services industry is shifting from traditional models to technology-driven outcomes. Member feedback suggests that although AI use within organisations remains limited at the moment, adoption is expected to accelerate, with AI becoming embedded across enterprises for broad, cross-functional use.
Are there any major changes you would like to see in your sector?
Sound regulation is the foundation of trust in the financial system. It must be robust yet workable, ensuring that firms can comply without being overwhelmed by unnecessary complexity. The simplification agenda is already progressing at both the EU and national levels, and from my discussions with Minister Jack Chambers, I know the Irish Government is firmly committed to this agenda.
As an employer, are you finding any skill gaps in the market?
Based on discussions with recruiters, most firms are facing significant challenges both in attracting talent and in addressing skills gaps across all areas of compliance, including financial crime prevention and data protection.
How did your strategy develop in the context of the banking crisis and economic crisis?
At the time, I was Head of Financial Reporting Supervision at IAASA, Ireland’s statutory accounting enforcement body, responsible for overseeing listed entities’ compliance with financial reporting standards. Within six months of its establishment, the banking crisis struck, and I found myself having to determine whether the banks’ loan impairment methodologies complied with accounting standards – a true baptism of fire!
How do you define success, and what drives you to succeed?
For any professional institute, success is measured by member satisfaction. Each year, we conduct a detailed member engagement survey, and the latest results from the Compliance Institute’s recent survey show exceptionally high satisfaction across all activities, which is incredibly gratifying.
What’s the best advice you’ve been given in business?
“Don’t sweat the small stuff.” Early in my career, like many, I often got lost in the details and missed the bigger picture. The great thing about being a CEO is that you have oversight of everything and can stay focused on the strategic priorities and on what truly matters.
What advice would you give to others starting in business?
Work hard, and if at first you don’t succeed, find another way and keep going.
What have been your highlights in business over the past year?
2025 was a record year for the Compliance Institute with the highest number of members, CPD events, certified short programs and educational offerings in the Institute’s history. The success of new initiatives such as our mentorship programme, third-level awareness campaign, in-house Corporate Compliance programme, and expanded ICQ magazine, newsletters and record listener numbers for our podcast series was also particularly pleasing.
What’s next for your company?
We will remain focused on serving the needs of our members in this rapidly changing environment while striving for another record year in performance and delivery.
What is the best book you’ve ever read (non-business) and why?
I don’t have a standout favourite, but any of the Sherlock Holmes books are my favourites. So well written, keeps you guessing and is written in a different era, which brings in the historical aspect, which I enjoy.
What is your favourite hobby and why?
I chair or participate in various professional and sporting committees. I enjoy the variety, collaboration, and the chance to work with different people.
What is your mantra for life?
Try not to sweat the small stuff.
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