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Jamming with Jason

Moving Internal Audit to the Strategic Level with Norman Marks

In order to really add value to your organization, internal audit has to move to the strategic level. Too often we spend our time in the details and weeds and then wonder why executives are not interested in what we have to say. If you are being ignored, you are probably not talking and acting at the strategic level. Unless we focus on what is relevant to executives and the board, we risk being viewed as as not adding value and even worse irrelevant.
Jason Mefford is joined by Norman Marks, a retired Chief Audit Executive, Chief Risk Officer and thought leader to discuss what internal audit needs to do to move up to the strategic level and get a seat at the big kids’ table.

#internalauditpodcast #jammingwithjason #chiefauditexecutive #internalaudit

Check out more episodes and full episode videos at Jasonmefford.com, and don’t forget to subscribe on your favorite podcast platform!
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Trekking Through Compliance

Trekking Through Compliance-Episode – 39 Journey to Babel


In this episode of Trekking Through Compliance, we consider the episode Journey to Babelwhich aired on November 20, 1967, Star Date 3842.3.
Compliance Takeaways:

  1. HR is key ally of the compliance function.
  2. Dynamic tensions between employees must be resolved.
  3. Be careful in freewheeling banter.
Categories
Innovation in Compliance

Finding Opportunities in a Crowded Industry with Squadcast


Tom recently attended Podcast Expo, an event designed for the little, non-corporate podcaster, and one of the vendors he met was Squadcast. Squadcast has an interesting tool to help podcasters, and they’re using it for this episode! This week on Innovation in Compliance, Tom Fox, the Compliance Evangelist talks to Zach Moreno and Rock Felder about how they found an opportunity to make a big difference in a crowded industry. 

How Did Squadcast Come to Be?
Zach Moreno is a technologist who’s interested in seeing what’s possible with technology. 
Rockwell Felder has an audit CPA background, but he left it to become the other co-founder of Squadcast as well as the CFO. The two high-school friends had been podcast listeners for years, and as they got more and more interested in the industry, they looked around and thought ‘we could do this!’ What they found, when trying to create a science fiction audio-drama, was that there wasn’t a good tool for people to record well together – but remotely. They decided to solve the problem – and that became an opportunity for podcasters to capture studio-quality audio – from anywhere.
See What’s Possible
Tom asks Zach and Rock how the principle of ‘seeing what’s possible’ influenced their growth as a company. The company looks at new opportunities as chances to ‘prove themselves wrong’ and doing that has let them be very experimental and push the needle in terms of what is possible to do from remote locations. Zach also mentions that the venture capital opinion of the podcast industry led them to bootstrap the company, and really challenge ‘conventional’ wisdom about what was possible. 
Ongoing Improvement
Squadcast actively seeks out and takes advice from their clients – using feedback to make real changes to their platform. Podcasters are a vocal group of people – and as a company, Squadcast wants to give them what they need and get out of their way. They knew they couldn’t fake being all-knowing experts, they needed to listen to and learn from the veteran podcasters. Any opportunity to let people be heard is one they want to take advantage of. Many companies *say* they’re community-focused, but the founders’ lack of experience AS podcasters forced them to really do it. Rock talks about how they like to attend the smaller industry events to get to know the community. 
What Compliance Professionals Should Remember
Tom draws a parallel to how important it is in compliance to listen to your people and genuinely respond to what they need, rather than what you think they ought to do, and talks about what a great strategy publicly taking, analyzing and responding to feedback is. 
Resources:
Squadcast.fm 

Categories
Daily Compliance News

Daily Compliance News: July 9, 2019, the who you gonna call edition

In today’s edition of Daily Compliance News:

  • ICO proposes a $230MM fine to BA for data breach. (CorderyCompliance)
  • Carnival Corp to hire first CCO. (WSJ)
  • Who answers 911 calls? (Hint: Not the Ghostbusters) (NYT)
  • New DFS chief wants to protect consumers. (WSJ)