En este episodio nos acompaña nuestro primer invitado, Diego Sierra, Socio en Von Wobeser y Sierra P.C., quien comparte con nosotros su amplia experiencia en materia de anticorrupción y cumplimiento en México. Diego nos platica sobre la expansión del Sistema Nacional sobre Anti-corrupción, analiza y pone en contexto los resultados de la Encuesta de Corrupción en América Latina, y comparte las tendencias que ve en el desarrollo de programas de cumplimiento en México.
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Preguntas? Contáctenos en podcasts@milchev.com.
¡(H)Ola Compliance! no tiene la intención y no se puede considerar como asesoramiento legal; el contenido solo refleja los pensamientos y opiniones de sus anfitriones.
¡(H)Ola Compliance! explora la ola de cumplimiento de anticorrupción que ha surgido por Latinoamérica. Inmerso en su cariño para la región, Matteson Ellis y Alejandra Montenegro Almonte (Socios de Miller & Chevalier), navegan las aguas de regulaciones de cumplimiento corporativo desde sus oficinas en Washington, DC y trazan las normas de anticorrupción que afectan a la región. A la vez destacan los desafíos y oportunidades que enfrentan las empresas comprometidas a la ética. ¿Te sientes que estás nadando contra la corriente? ¡Entonces tome la ola de cumplimiento en ¡(H)Ola Compliance!
Day: January 12, 2021
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 Gwen Hassan, Managing Counsel and Director of Compliance at CNH Industrial.
In this second episode, we take up the tricky issue of balancing a role as a legal eagle for the company as well as her role in compliance. We explore the different skill set needed for each of these careers and how it is possible to have both in one person. Gwen tells us her favorite part about being a compliance professional and then give us her “elevator speech” about the compliance profession she used at pre-pandemic cocktail parties.
One of the areas that many companies have not paid as much attention to in their compliance programs is compensation. However, the DOJ and SEC have long made clear that they view monetary structure for compensation, rewarding those employees who do business in compliance with their employer’s compliance program, as one of the ways to reinforce the compliance program and the message of compliance. As far back as 2004, then SEC Director of Enforcement Stephen M. Cutler noted that integrity, ethics and compliance needed to be part of promotion, compensation and evaluation processes: “At the end of the day, the most effective way to communicate that “doing the right thing” is a priority, is to reward it.”
The 2020 FCPA Resources Guide stated the “DOJ and SEC recognize that positive incentives can also drive compliant behavior. These incentives can take many forms such as personnel evaluations and promotions, rewards for improving and developing a company’s compliance program, and rewards for ethics and compliance leadership.”
Obviously, the power of a compensation plan is to motivate employees to not only to sell more but to act in ways that support your company’s business model and overall culture and values. For the compliance practitioner, one of the biggest reasons is to first change a company’s culture to make compliance more important, and then integrate it into the DNA of your organization. But you must be able to evolve in your thinking and professionalism to recognize the opportunities to change and then adapt your incentive program to make the doing of compliance part of your company’s everyday business process.
Three key takeaways:
- The DOJ and SEC have long advocated compensation as a way to motivate employees into ethical and compliant behaviors
- Keep the compliance aspects of your compensation structure simple and easy for your employees to understand
- Have full transparency in the framework of your compensation structure
In this podcast I am joined by Jay Rosen, VP of Business Development for Affiliated Monitors, Inc. In this episode, we consider to what extent the Chief Compliance Officer (CCO) should be involved in shaping a culture of ethics and driving ethical behavior. Highlights include:
- Who bears the responsibility for culture?
- The duty most often falls to the CCO, so both the CCO and the entire compliance function need to be able to coordinate the various inputs and support mechanisms that guide employee behavior.
- The CCO is often the face of the ethics program for the company – kind of the spokesperson for the company who helps to drive behavior.
- In hiring and recruiting, a CCO can create a culture where an organization would only hire the right type of people as employees.
- When managing upward, the CCO has an equally critical mandate through unfettered access to provide information to the Board regarding the compliance and ethics posture at the company, specifically including the culture.
- What are the warning signs of an unethical culture?
- It is up to the CCO to understand and have their finger on what the culture is, where the challenges are and what needs to be done to continually strengthen the culture.
For more information see Jay’s blog post What is the CCO’s Role in Strengthening the Organization’s Culture of Ethics? on Corporate Compliance Insights.
For more information on Affiliated Monitors, Inc. check out their website here.
Tom Fox and Nick Gallo talk about decision-making and what influences the process. Humans like to think of themselves as rational beings, but we are really emotional decision-makers who rationalize our decisions with logical arguments. Influence is also a large factor in how you make decisions, Nick adds – it’s how you get people to change their minds without coercion. Tom discusses one of his key takeaways from Cialdini, which is the theory of reciprocity, also known as reaping what you sow.
The six principles of influence are: reciprocity, commitment and consistency, social proof, similarity, authority, and scarcity. Nick gives a brief definition for each principle and shares his takeaways from Cialdini.
Listeners can read Nick’s notes on this book at his LinkedIn page.
Resources
Tom Fox on LinkedIn | Twitter
CompliancePodcastNetwork.net
Nick Gallo on LinkedIn
ComplianceLine.com
Influence: The Psychology of Persuasion by Robert Cialdini
