Day: February 16, 2021

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The Compliance Handbook

The Compliance Handbook -The Role of Boards and Compliance with Mike Volkov


The Board’s overarching intention is to maintain a company’s growth and success by overseeing its affairs while fulfilling its owners and critical parties’ appropriate needs. On a case-by-case basis, it is for the Board to judge which participants it treats as ‘important’ and which of its concerns is necessary to comply with, keeping in view the legislation, the relevant laws, and market considerations. A board of directors does a uniquely challenging range of obligations and obstacles in fulfilling this core objective and often faces a set of contradicting set of priorities. These Pandora’s boxes motivated Tom Fox to take a leap and do something to educate and provide valuable resources for board members and those in the same field. In todays’ episode of The Compliance Podcast, Tom is joined by the legendary Mike Volkov of the Volkov Law Group. Tune in to the episode as Tom and Mike share a meaningful discussion about the “The Role of Boards and Compliance.”
Key Takeaways Discussed in the Episode:

  • Be reminded of the crucial roles of the Board as accentuated by Mike Volkov. According to Mike, at all times, the Board should;
  • Promote the goodwill of clients and related stakeholders.
  • Bear the accountability for overseeing the company and its operations through a management structure and entrepreneurial leadership.
  • Be mainly accountable for authorizing the organization’s strategic goals and working to ensure that the human and financial capital required to achieve such objectives are made available.
  • Continually evaluates the risk assessment and internal control activities of the organization through the Audit Committee.
  • Recognize any weaknesses or shortcomings to accomplish its ultimate aim. Therefore, the Board is advised to reflect on specific duties that it must or intends to conduct itself and determine if the top leadership can execute further in the correct way.
  • Have you heard of the “High-minded Nondisclosure Route“? If not, tune in to the episode, as this might help when things get rough.
  • Recognize the importance of having a Board of Directors’ Compliance Committee and why there should be a Compliance expert on the Board.
  • Hear more about what leads to a successful Board investigation and the compliance metrics a Board should look for.
  • Be informed of recent Board failures in compliance and learn from these failures to not walk on the same path.
  • Explore the promising outcomes of incorporating compliance into long-term Board strategy.

The Compliance Handbook, 2nd Edition
The Second Edition incorporates the most current government pronouncements governing best practices compliance programs including: the 2019 Evaluation of Corporate Compliance Programs released by the Fraud Section of the Department of Justice, and its 2020 Update; the updated FCPA Resource Guide 2nd edition; the Framework for OFAC Compliance Commitments; and the 2019 DOJ Antitrust Division’s Evaluation of Corporate Compliance Programs in Criminal Antitrust.
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The Affiliated Monitors Expert Podcast

Teaching at the International Anti-Corruption Academy


In this episode, I am joined by Mikhail Reider-Gordon, Managing Director of Global Affairs at Affiliated Monitors. In this episode, we consider how Gordon’s teaching compliance and investigations at the International Anti-Corruption Academy inform her view of wide-ranging cultural differences in monitorships. Gordon is a frequent Guest Lecturer at the IACA, having been on the faculty for about five years, teaching investigations and compliance. She also supervises graduate students in writing their thesis. The IACA is an international organization formed by 70 member States, about eight and a half years ago. It is dedicated to enhancing knowledge and education in the field of anti-corruption. It runs graduate level programs and degree programs dedicated to training professionals in combating corruption in all its married forms.
It is headquartered in Laxenburg, Austria, and hosts students from over 70 countries, including US, Europe and a heavy presence of African students. Many of the student are prosecutors and investigators from developing countries who are looking to expand their capabilities and technical skills in combating corruption back in their home countries.
Gordon said that from her work at the IACA she has garnered a wider appreciation of the cultural differences that every compliance practitioner and monitor need to be attuned to in monitorship work. She said, “that is one of the more enjoyable elements of it. We touch on a lot of cultural differences and we will raise scenarios or questions in the class. We’ll have folks from the Middle East, from Africa, from China, from Indonesia, India, Western European countries, from Brazil, from the US, from Canada, basically from across the globe. This leads to a wide range of opinions.”
For more information on AMI, check out their website. For more information on Mikhail Reider-Gordon, check out her LinkedIn profile. For more information on the IACA, click here.

Categories
The Compliance Life

Natalia Shehadeh – Into the CCO Chair


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 Natalia Shehadeh, Chief Compliance Officer at ABB. In this Episode 3, we review Natalia’s moving into the CCO Chair.
Natalia went into the corporate world and immediately landed jobs at not only high-profile firms but those going through significant FCPA journeys, investigations and enforcement actions. Her roles provided the beauty of travel and connection across dozens of countries, experience in areas well beyond traditional compliance including:   high-stakes enforcement and litigation provoking brand risks, devastating security challenges provoking human risk, and yet opportunity for synergy as we recognized the impact organization culture and inclusion can have on our integrity mission.

Categories
Innovation in Compliance

Meaningful Meetings with Dr. James Kelley


 
Tom Fox’s guest on this week’s show is Dr. James Kelley, co-founder and CEO of qChange. qChange is a technology company that uses artificial intelligence to improve leaders’ skills and make meetings more impactful. James spent the last 12 years in academia before co-founding qChange. He chats with Tom about his academic research, his book, and how he is helping leaders become more impactful in meetings.
 

 
Customize the Message
James’ academic research was a five-country study about consumers’ attitudes towards global brands. He studied various customer attributes and how it impacted their attitudes towards a brand. What he found was that global companies needed to tailor their narrative to reach customers outside of their local audience. This study has implications for internal communications around compliance as well, he points out. “I’ve always argued that if you could diversify your population inside the organization and tailor that messaging, the likelihood of compliance will increase drastically because you’re speaking the language of the individual.”
Crucible Moments
Tom and James discuss James’ book, The Crucible’s Gift. James details why he wrote the book, and shares some insights from his interviews with 150 “authentic leaders”. The greatest learning he took away from those interviews was that they all had a “crucible moment”. “What I found is that a majority of those I interviewed that I perceived as being really authentic took some sort of adversity moment and created an opportunity.” He tells Tom that their crucible moments led them to ultimately become more authentic. Tom shares his own crucible moment. “Learning to see the door and then have the courage to walk through, [that] was the biggest lesson for me,” Tom comments.
Making Meetings Better Through Technology
“[qChange] was born out of this notion that technology – the use of AI – could be a collaborator in a leader’s journey, not a competitor,” James says. “So our whole entire company is predicated on the idea of prompting, measuring, growing, and predicting leaders’ and teams’ success in Microsoft Teams. We’re very meeting focused: we believe that where leaders show up most is in a meeting.” He describes how their AI software prompts leaders to practice specific soft skills within meetings. The comprehensive feedback loop compares the leader’s self-score with how his team members rate them, culminating in a personal leadership score. Making it experiential and real-time helps leaders retain those lessons in a tangible way. James tells Tom that their solution is end-to-end. Tom asks him what he sees as the future of meetings, to which he responds that work is going to be hybrid. He shares how qChange is preparing for the future, and that they’re well-positioned to meet it with success.
Resources
qChange.com
qChange on LinkedIn | Facebook
James Kelley on LinkedIn
The Crucible’s Gift book