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31 Days to More Effective Compliance Programs

Third-party risk management ROI


One area that has bedeviled CCOs and compliance practitioners is how to determine the ROI for your compliance program regarding third-parties. While it is still clear that third-parties are the greatest risk in FCPA enforcement actions, senior management often wants to know what is the monetary benefit to the company for this type of risk management.
When you couple the request for ROI with the 2020 Update, it may seem like a doubly daunting task. However, the requirement for operationalization of your compliance program actually lends itself to formulating ROI around the risk management of third-parties. This is because if you move third-party compliance into the organization as a business process, with a technological solution, the ROI becomes not only clearer but easier to calculate going forward.
Three key takeaways:

  1. Why is it important to demonstrate ROI on your third-party risk management program?
  2. Determining ROI helps to demonstrate operationalizing your compliance program.
  3. Determining third-party management program ROI can help to tear down compliance siloes.
Categories
FCPA Compliance Report

Wirecard-a podcast series on the scandal, with Mikhail Reider-Gordon, Part 1-Introduction


In the Episode, I am joined by Mikhail Reider-Gordon, Managing Director of Institutional Ethics & Integrity at Affiliated Monitors.  Mikhail’s areas of expertise include technology, privacy, cybersecurity, IP and accountability in artificial intelligence; the global anti-corruption and anti-money laundering regimes; media & entertainment; biotech and the life sciences; the public sector and international law.  She is accustomed to working on extremely sensitive and high-profile matters, both nationally and internationally. In this episode, we begin a multipart series on the Wirecard accounting fraud.
Some of the highlights include:

  1. How long was Wirecard been under scrutiny?
  2. What was the role of BaFin in this disaster?
  3. What does this mean for Germany Inc?
  4. Why didn’t the regulators step in?
  5. What about EY?
  6. Where are we headed in the Wirecard Fraud?
Categories
Daily Compliance News

July 20, 2020-the Talk is Cheap edition


In today’s edition of Daily Compliance News:

  • Covid-19 and cyber risk. (FT)
  • The new Indian land and energy. (WaPo)
  • Beginning of the end for quarterly updates? (WSJ)
  • Talk is cheap when it comes to diversity. (WSJ)