|
Getting your Trinity Audio player ready...
|
From the outside looking in, an agency like the US Securities and Exchange Commission (SEC) might seem mysterious, sterile, and cold in some ways. But if you ask Carolyn Drayer-Greenwalt, who spent approximately three years as an attorney adviser at the federal agency, those perceptions couldn’t be further from the truth.
“Working at the SEC was one of the best jobs I’ve had in my career. It really transformed my perspective on the power of working alongside talented colleagues,” she reflects. “The organization was filled with smart people from various backgrounds, and everyone shared knowledge to empower each other.”
Her experience at the SEC inspired her to seek another mission-driven opportunity. In 2022, she got her chance at Patient Square Capital, a leading firm that invests across various segments of healthcare, including development-stage therapeutics, commercial-stage pharmaceuticals, healthcare providers, tech-enabled services, and medical devices.
As the firm’s chief compliance officer, Drayer-Greenwalt aims to build a world-class program that leverages the power of relationships as her foundation to respond to evolving business needs amid a shifting regulatory landscape.
“Building a strong compliance program requires trust with the people you work with and support internally,” Drayer-Greenwalt shares. “Being in my position, it’s not only important to have internal alignment on compliance process and procedures, but
also crucial that I am integrated into the business. To be successful, my colleagues need to consider the compliance team a key resource for questions they’re already facing, as well as a forward-thinking thought partner for future opportunities they’re considering. Prioritizing communication across the organization helps catalyze the type of change that we need in our industry.”
She continues: “Regulatory rules are dynamic, which requires diligence and readiness to adapt to changes quickly. Our business and operations, risk areas, and enforcement priorities will continue to evolve. Education and engagement need to be an ongoing effort. We’ve created a collaborative culture where people feel comfortable regularly coming to the compliance team, which positions our team to respond appropriately and focus on effective execution.”
Drayer-Greenwalt looks forward to building on this success by adding more members to the compliance team and continuing to lead with a philosophy that harkens back to her SEC days: “Share information, empower people, take time to teach, and don’t be afraid to learn or to ask questions,” she says.
Drayer-Greenwalt never planned on pursuing a career in compliance. She started her career in legal telecommunications before transitioning to a contract administrator role at a hedge fund in New York, which laid the foundation for her financial expertise. From there, she rose through the ranks to become in-house counsel, helping the organization wade through the financial crisis in 2008 and the Dodd-Frank Act. As a result of the latter legislation, Drayer-Greenwalt was given a mandate to create a compliance program for the company.
She went on to develop her compliance expertise in various roles, including associate general counsel for the Texas Comptroller of Public Accounts, attorney adviser at the SEC, and chief compliance officer at Genstar Capital. When Drayer-Greenwalt was ready for her next challenge, a former SEC colleague introduced her to Adam Fliss, a founding partner and general counsel at Patient Square.
“I thought that joining a first-time fund would be rewarding since it provided me a blank sheet of paper to build a compliance program from the ground up,” she says. Two years later, joining Patient Square exceeded her expectations. “The chance to be a part of the growth of Patient Square has been incredibly fulfilling, motivating me to push my boundaries and reach new heights.”
She continues, “Being a part of a team who is supportive, empowering, and gives me the autonomy to be myself has been a game changer in my career.”
“Carolyn is deeply skilled and dedicated to her work. Her wisdom and expertise have made her an invaluable asset to the Patient Square Legal and Compliance team and we anticipate many more victories for them.”
—Alpa Patel, P.C., Partner
