Day: November 24, 2020

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The Affiliated Monitors Expert Podcast

Introduction of the role of independent integrity monitors and corporate monitorships


Today,  I am joined in this podcast series by Jay Rosen, the Vice President of Business Development and Monitoring Specialist at Affiliated Monitors, Inc. In this episode, we introduce the role of independent integrity monitors and corporate monitorships. Some of the highlights from this podcast include:
1.    What is a corporate monitor?
2.    What agency has oversight?
3.    Who foots the bill?
4.    What about subject matter expertise?
I hope you will join us tomorrow for Part 2, where we discuss post-settlement monitorships.
For additional reading see Jay Rosen’s article Corporate Monitorship 101: Who Are They, and What Can You Expect? on Corporate Compliance Insights.
For more information on Affiliated Monitors, Inc. visit their website here.
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Fraud Eats Strategy

Out from the Shadows: Examining Accounting Firm “Shadow Investigations”

In this week’s episode, we’re going to explore the little-known area of “shadow investigations” in which accounting firms oversee internal investigations being performed by outside counsel and their forensic investigations counterparts ensuring the investigation is scoped appropriately to provide sufficient information for the audit partner to comfortably sign off on the auditee’s financial statements. Joining us are two very experienced practitioners, Cleary Gottlieb partner, Lisa Vicens, and FTI’s own Mark Grover, each of whom have worked on investigations that have been shadowed by accounting firm forensic practices.

Join us each week as we take a deep dive into the various forms of fraud across the world and discuss crime families, penny stock boiler rooms, international money launderers, narco-traffickers, oligarchs, dictators, war lords, kleptocrats and more.

Scott Moritz is a leading authority on white-collar crime, anti-corruption, and in the evaluation, design, remediation, implementation, and administration of corporate compliance programs, codes of conduct. He is also considered an authority in the establishment, training, and oversight of the investigative protocols carried out by financial intelligence, corporate security, and internal audit units.
 

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The Ethics Experts

Episode 038–Brett Lovett


On this episode of The Ethics Experts, Brett Lovett joins Nick to discuss how training can elevate your compliance program and reduce risk.

Check out more episodes, and don’t forget to subscribe on your favorite podcast platform!

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The Compliance Life

Katie Smith on lessons from Covid-19 going forward


The Compliance Life details the journey to and in the role of a Chief Compliance Officer. How does one come to sit in the CCO chair? What are some of the skills a CCO needs to success navigate the compliance waters in any company? What are some of the top challenges CCOs have faced and how did they meet them? These questions and many others will be explored in this new podcast series. Over four episodes each month on The Compliance Life, I visit with one current or former CCO to explore their journey to the CCO chair. This month, my guest is Katie Smith who is the Vice President for Ethics at Assurance.  She previously served as Assistant Vice President and Chief Ethics Officer for USAA and Executive Vice President and Chief Compliance and Ethics Officer at Convercent.
Katie is passionate about compliance, having worked in the field for 20 years, building high-performing teams and increasing employee engagement by up to 300%. She has proven expertise in building and promoting talent, creating a trust-based culture, anti-corruption, code of conduct, conflict of interest, marketing internal programs, training and awareness, investigation excellence, data privacy and process efficiency. She is a much sought after public speaker and contributor featured in Wall Street Journal, Time, Fortune, NBC and Compliance Week. Katie’s commitment to the compliance profession is well as she currently sits on the Board of Directors of the Ethics and Compliance Initiative (ECI).
In this fourth and final episode, Katie discusses lessons for the compliance professional from the Coronavirus health crisis. We take a look at the role of the CCO after Coid-19 and whether there is an opportunity for you to refocus your compliance program. We conclude with a look at where the compliance professional and compliance profession might in in 2025 and beyond.

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Jamming with Jason

Corporate and Individual Integrity with John Fanning


In today’s episode we discuss with John Fanning (V.P. of Business Development with Integrity Risk International) how important ethics are in today’s businesses. Many companies treat ethics as a checklist and don’t seem to actively promote a positive ethical culture within their organization.
Integrity is an important trait not only personally, but on a corporate level as well. Businesses with integrity will make positive changes when problems are found.
In order to foster a positive culture within our organizations we need to stand by what we say even if short term gains may seem to suffer, because long term gains will greatly benefit.
Listen in at: http://www.jasonmefford.com/jammingwithjason/

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Jamming with Jason

Your Title Doesn’t Make You a Leader


Have you ever worked for a horrible boss? If you are like most people, a couple of faces just popped into your mind.
We’ve all worked with horrible bosses who didn’t use Intuitive Leadership, Neural Influence, or Mental Mastery … and it’s HARD to be a leader without them, and painful for the people you work with if you don’t.
I’m talking about #leadership in this #jammingwithjason episode. Technical skills and a fancy title, doesn’t make you a good leader. In fact, you may be a horrible boss and not even realize it.
What does it take to be a leader with executive presence who can navigate through the politics, the good times, and the challenging times? Listen in at: http://www.jasonmefford.com/jammingwithjason/ to find out.
When you are ready to start practicing and getting the skills to make you successful when you get in a game time leadership situation, join the Briefing Leadership Program at: https://jasonmefford.mykajabi.com/caebriefing

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Jamming with Jason

Ground-Breaking Insight into the Current and Future State of Internal Audit with Colleen Knuff


If you ask over 1,000 #internalaudit groups what they are doing different based on the changes we’ve seen in 2020, what do you think you would find?
Well in this #jammingwithjason episode I’m talking with Colleen Knuff from Wolters Kluwer TeamMate about the research they have collected and what insights it can tell us about the current and future state of internal audit and the direction you should be taking.
Listen in at: http://www.jasonmefford.com/jammingwithjason/ to learn more about: 1. continuous risk assessments, 2. adopting an agile audit approach, 3. increasing the use of data analytics.
Here are a couple of things you can start doing now.
1. Get more continuous in your risk assessment and linking what you do to the key objectives of your organization. Learn how here: https://ondemand.criskacademy.com/p/certified-risk-based-internal-auditor-crbia/?affcode=105582_jpp6czlf
2. Get more agile in your internal audit approach. Learn how here: https://ondemand.criskacademy.com/p/caap/?affcode=105582_jpp6czlf
3. Learn how to start incorporating more data analytics in your work: https://ondemand.criskacademy.com/courses/category/data-analytics
To participate in the Touchstone Research for Internal Audit, visit:
https://www.wolterskluwer.com/en/solutions/teammate/touchstone
Listen in at: http://www.jasonmefford.com/jammingwithjason/

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Innovation in Compliance

The Regulatory and Business Case for Documentation with Brett Manwaring


Tom Fox welcomes Brett Manwaring to this week’s Innovation In Compliance podcast. Brett is a Managing Director, Financial Crimes Risk Management at K2 Integrity. Prior to joining K2 Integrity 8 years ago, he served at KPMG and JP Morgan Chase. Brett and Tom talk about the importance of documentation, from both a regulatory and business perspective.

Innovation Can Happen Organically
It’s a common perception that banks are resistant to innovation, Tom comments. In response, Brett remarks that banks, like most people, are resistant to change and innovation is closely tied to change. However, if banks realized what they have and what they can control, innovation could happen organically. A key component is understanding your data, he points out. K2 Integrity can help businesses organize their data into a central repository, which any department can access and leverage.
Poised for Innovation but Unaware
“When it comes to innovation,” Tom asks, “do you see smaller or perhaps midsized companies more poised to engage in innovation?” Brett replies that smaller companies are indeed more poised, but they often don’t know it. The reason they can innovate quicker is that they have less customers, transactions, and data to control. Less data equals more opportunity to innovate quickly. He shares tips on how companies can innovate but still remain compliant with financial regulations. One strategy is to do a data lineage exercise, which Brett says can set up companies for a positive yearly review with regulators. “[Great] reporting creates great discussion, and that great discussion creates great decision points, and those decision points – if they’re implemented correctly – are the basis for your yearly review with regulators.” 
The Case for Documentation
To every line of business, including new products and services, there should be a compliance officer attached. “Every decision has a downstream impact,” Brett reminds listeners. “The decision you make is going to impact somebody else.” As such, the compliance officer helps the company to anticipate and mitigate the associated risks. “That will eventually lead to a good review at the end of the year from your regulator because everything’s ticked and tied and you thought downstream,” he adds. We face additional changes and risks due to the pandemic, so companies should make sure that their reporting reflects those changes. “The three most important things in any compliance program are the following: document, document, document,” Tom quips. “You laid out the business case of why documentation could be such a powerful business tool and a part of your overall business plan going forward,” he commends Brett.
Resources
K2Integrity.com
K2 Integrity on Twitter | LinkedIn
Brett Manwaring on LinkedIn

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Daily Compliance News

November 24, 2020-CCOs Behaving Badly edition

In today’s edition of Daily Compliance News:

  • Head of Apple security and former CCO indicted for bribery and corruption. (AppleNews)
  • Washington Football team acknowledges problems ‘in the past’. (WSJ)
  • Is Biden pro-energy industry? (WaPo)
  • CFOs, remote DD and M&A. (WSJ)
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FCPA Compliance Report

Arsenale and Incentivizing Compliance


The week of Thanksgiving is the time of our annual trip to the most beautiful and unique city on earth-Venice, Italy. With travel to Italy shut down this year due to Covid-19, I am visiting Venice virtually and mining this rich city for compliance lessons. Today’s lesson come from the Arsenale and incentives in compliance. This is not a precursor to that famous north London football club, the Arsenal Gunners, but the district in Venice where one of the main commercial enterprises of the city took place, that being ship building and ship repair. At one point, the Arsenale employed almost 10% of the city’s workforce or 12,000 people.
I picked up some interesting compliance insights in learning more about the Arsenale. On the incentive side there were several mechanisms the City of Venice used to help make the Arsenale work force more loyal and desirous to stay in their jobs, all for the betterment of themselves and their city. The first was job security. The Arsenale was so busy for so many years that lay-offs were unheard of. Even if someone lost their job, through injury, mishap or worse; they received enough of compensation that they could live in the city. Finally, when a worker died, the company provided not only funeral expenses but would assist in taking care of the family through stipends or finding other work for family members.