On the latest episode, Brian and Tim review the recent series of U.S. actions targeting Russia for its treatment of Aleksey Navalny and debate whether U.S.-Russia relations have now reached a tipping point. Next, we discuss the first failed attempt to get JCPOA 2.0 off the ground, ponder what the U.S. will do about Myanmar in the face of worsening post-coup conditions, and share some key takeaways from OFAC’s recent settlement with BitPay. Finally, in the Lightning Round, we check in on the ICTS Supply Chain interim final rule, which appears to be here to stay, and briefly contemplate the prospects of the U.S.-Cuba Trade Act of 2021.
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Questions? Contact us at podcasts@milchev.com.
EMBARGOED! is not intended and cannot be relied on as legal advice; the content only reflects the thoughts and opinions of its hosts.
Timestamps:
0:10 Introduction and Roadmap
The Rundown
6:04 Navalny and Russia
23:15 JCPOA 2.0
33:07 Quick Updates on Myanmar (and Yemen)
43:15 OFAC Settlement with Bitpay
50:14 Lightning Round
50:32 ICTS Supply Chain Final Rule is (Apparently) Here to Stay
56:45 U.S.-Cuba Trade Act
1:04:57 Final Thoughts
***Stay sanctions free.***
Day: March 9, 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 Rob Chesnut, whose most recent position was as the Chief Ethics Officer at Airbnb. He is also the author of the best-selling book, Intentional Integrity: How Smart Companies Can Lead an Ethical Revolution with St Martin’s Press.
In this second episode, we take up Rob’s move across country to become the 3rd lawyer at eBay in the 1990s. We visit about what eBay and Silicon Valley like in those early days. We discussed Rob’s fraud prevention program he created at eBay. We discussed how the process of taking a company public help to focus on compliance.
Companies need to be more innovative when it gets down to compliance. Thus, compliance practitioners should ensure that ethics and compliance are central to the business operation in response to today’s evolving and fast-paced regulatory environment. Consequently, compliance programs should be innovative, behavior-based, yet consistent with organizational systems and policies.
However, one loophole with many compliance officers is they have legal professional backgrounds—the majority proceeds from the general counsel’s office and private practice. Frankly, innovation is not high on the charts for what most compliance officers are taught. Instead, they were familiarized with the Socratic method to read cases and learn how to argue points.
So, how can a Corporate Compliance Officer think about an innovation strategy for any risk management program?
Ben Locwin, a well-known innovator in a wide variety of fields, is here to throw in some light about Innovation in Compliance.
Key takeaways discussed in the episode:
- Decipher that connecting innovation and compliance is the pursuit of understanding the truth in the false positives and the false negatives.
- Come to know that there’s a marked difference between innovation and invention. Innovating the compliance infrastructure is always much more straightforward than creating something from scratch.
- See through the truth that we’re drowning in data but thirsting for information. Updating your beliefs with better data will always lead to better risk management outcomes.
- Change the way you’re looking at information so that you can position your company at the front edge boundary of what’s accurate and correct.
- Be reminded that the paradigm is changing; companies don’t stay static, people’s behavior doesn’t stay static. Thus, continuous monitoring leads to constant improvement.
In this episode, we take a scenic stroll through all the work that’s gone into the Microsoft Information Protection pillar of the Compliance suite with Mathili Dandige, who leads this initiative for Microsoft. We also weave pearls of wisdom from industry expert Joel Oleson, Director at Perficient and Microsoft MVP, who provides us with unique customer sentiments and stories about the information protection landscape.
Voices of Data Protection is a show about the latest processes and solutions to help you manage your data, keep it safe, and stay compliant. We talk with industry experts, leaders, and program managers from Microsoft to learn how digital transformation is accelerating the need for compliance, how organizations are navigating this new landscape, and learn best-in-class practices and solutions to get your organization started and bring compliance to the next level. Transcripts are available for all episodes. For more infomration, visit: https://aka.ms/voicesofdataprotection
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Eric Shepherd is the former CEO of Question Mark. In 2019 he stepped down and now runs a non-profit company called Talent Transformation, focused on helping individuals understand the future, leadership, and learning. Tom Fox welcomes Eric onto his week’s show as they discuss the ways organizations can better develop through a focus on learning rather than training.
The Rise in Technology
With the rise in technological advances and automation, machines will be replacing human tasks, and what this means is that individuals will need to acquire new skills. “People will need to learn new skills and be more agile in their approach to work,” Eric says. “Just as technology is going to disrupt a lot of jobs, we can also use technology to help us learn the skills required for the 21st century,” he adds. He iterates that communication, collaboration, and conflict resolution are some of the most important skills that need to be developed and nurtured. Eric also adds that employees will feel bitter at having been displaced, and it is up to society to provide learning systems to help them transition into new roles.
Talent Transformation Pyramid
Eric had a good understanding of assessing knowledge skills and abilities but not of assessing behaviors, emotional intelligence, or personality traits. Understanding how mindset and skillset would support readiness and performance was important. “How would people be ready to do tasks and how would they perform but being based on both their behaviors and social-emotional intelligence,” he adds. He explains to Tom that the concept was hard to explain to people, so he created the ‘talent transformation pyramid’, showing how personality traits and cognitive systems would support performance at an individual level, team level, and organizational level.
CEO Sets The Culture
Tom asks Eric what he sees as the CEO’s role in talent transformation, especially in regards to the coronavirus pandemic. Eric stresses that the CEO has to set the organizational culture and that that culture would differ depending on what business they’re running. In these uncertain times, employees are being bombarded with different fears that will affect their work performance. CEOs need to address those fears and establish a culture that says wellness, psychological safety, and inclusion are important. It has to come from the top, he argues.
Learning Through Culture
Eric reiterates that the majority of repetitive tasks are going to be replaced by machines. What this means for humans in the future is that there will be more focus on creativity, communication, collaboration, and cooperation. Learning through culture will see organizations become more successful because they are being more creative and embracing the possibilities of the future. “The company that can embrace those talents and those skills is actually going to be more efficient, and having greater efficiency would lead to greater profitability simply because they’re more agile and they’re more nimble.”
Learning Rather Than Training
Tom asks Eric to explain how the pandemic has changed his approach. Eric explains that now his company acts more as business advisors rather than doing actual assessments. With the impact of COVID-19, Eric has been uploading a lot of content to YouTube and his company’s website. Tom also asks Eric what companies need to think about in the next few years in regards to talent transformation. “Think about learning rather than training. Think about culture.”
Resources
Eric Shepherd | LinkedIn, Twitter
TalentTransformation.com
eric@talenttransformation.com
Talent Transformation by Eric Shepherd and Joan Phaup
