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 Jonathan Kellerman, Partner at StoneTurn and former CCO at Allergan. Kellerman grew up in a family of doctors. In college he realized he did not want to practice medicine. After college, he took a job in a consulting practice focusing on health care. There he learned about how the health care delivery model works and focused his professional work in this area ever since, moving to Coopers & Lybrand.
Resources
Jonathan Kellerman LinkedIn Profile
Jonathan Kellerman StoneTurn Profile
StoneTurn
Day: April 6, 2021
Business Ventures with Brandon Daniels
In today’s episode of The Compliance Podcast, Thomas Fox is joined by regulatory expert and technology practitioner Brandon Daniels, President of Exiger – Global Markets. Tune in to the episode as Thomas and Brandon share an interesting discussion about trending compliance risks and business ventures.
Major takeaways discussed in the episode:
- Be reminded that third parties are essentially part of a company’s ecosystem as well. Brandon Daniels emphasizes that third parties must also use compliance practices applied to the company’s people, processes, and technology.
- Take advantage of technological advancements, namely the ability to utilize open-source data to evaluate risk in due diligence and assessments.
- Recognize that holistic risk assessment is necessary to search hotspots subject to multi-factor risks. Doing so will effectively mitigate them to stay ahead of both commercial disruption and regulatory enforcement.
- Be constantly reminded to avoid the risks that wipe out the profit.
- Companies need to be thinking ahead beyond their business relationships and creating strong mitigation practices in times of crisis to stay relevant and economically successful.
- Amid a pandemic, there are areas of growth in the market that will demand more robust compliance and more vital ESG practices.
About Thomas Fox:
Thomas Fox, the Compliance Evangelist®, is one of the leading writers, thinkers, and commentators on anti-bribery and anti-corruption compliance. In this latest edition of The Compliance Handbook, he continues to arm seasoned compliance professionals and those new to the realm with the practical, actionable guidance and tools needed to design, create, implement and continually enhance a best practices compliance program.
The “Nuts and Bolts” for Creating a Comprehensive Compliance Plan
This chapter of this unique work lays out a succinct yet thorough one-month approach to operationalizing a company’s compliance regimen. Beginning with a section on what 2020 brought to the compliance landscape, each chapter methodically outlines best practices for everything from establishing policies, procedures, and internal controls, to assessing risk, training, handling investigations, and more. Each day ends with three key takeaways you can implement at little or no cost.
Understanding Compliance Responsibility Across the Organization
The Compliance Handbook also takes a close look at all professionals’ roles with compliance responsibility, from Compliance Officers and Boards of Directors to Human Resources, to Internal Audit and Internal Controls and Communications and Training professionals.
In-Depth Treatment of Hot Topics and Trends
The Handbook provides an in-depth look at the latest thinking and trends for the full range of critical compliance topics, including:
• Compliance and business ventures
• Third-party risk management
• The Board’s Role in Compliance
• Continuous improvement
• Compliance innovation
• And much more
Incorporating Current Government Pronouncements
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.
Order your copy OR copies of The Compliance Handbook: A Guide to Operationalizing Your Compliance Program. Save 25% off.
http://www.lexisnexis.com/fox25
Paul Clayson has an interesting and eclectic career history: he went from real estate to politics – including working for two US Presidents – then to corporate finance and investing. He tells Tom Fox about his experience working as CEO of several technology companies after which he moved into consulting. He first consulted for AgilePQ, his present company, and was asked to join as CEO. Paul joins Tom to discuss the top lessons he learned as CEO, as well as security for technology in the present and future.
Timely Intervention
“…Encryption and security technology has lagged the development of computers,” Paul tells Tom. Computers are becoming smaller but existing encryption is too large to fit on these small devices. As a result, very few IoT devices have security on them. Paul feels strongly that it’s time to “catch up”.
Leadership Lessons for CEOs
Tom asks Paul to share his top leadership lessons as CEO. Paul says:
- The CEO has more bosses than any other position in the company;
- Your job as CEO is to get the best people and then create the environment for them to perform at their best;
- Be transparent about everything;
- He lives by two principles. Firstly, make gut decisions after finding all the data to support it; and secondly, it makes no sense doing those things well that you shouldn’t be doing at all.
He explains that the difference between the board of directors and the CEO is oversight and fiduciary responsibility versus operation and execution.
Security for the Present and Future
Tom and Paul discuss Paul’s role at AgilePQ and the company’s prospects. “This product is needed; it’s just needed,” Paul emphasizes. He outlines the markets they are targeting, which even includes their competitors. “They don’t really have a full security system that can operate on the smallest of IoT devices,” he points out. “We have that so we can join with them, license to them our technology.” He tells Tom that their software not only protects the present but is ready for future technology as well. “We built [our software] not only to protect the IoT devices, but we built it so that when quantum computers become a reality – they will be able to process so much data so quickly they can break many of the encryption systems that are in the marketplace today – we built our technology to be post-quantum secure.”
“What do board members, CEOs, and companies need to be thinking about for 2025 or perhaps even further, around security and encryption?” Tom asks. “People have to recognize that hackers and bad actors in the digital world are multiplying faster in many cases than the development of technology itself,” Paul responds. “Businesses today really need to be focusing on security at every level of the computing stack … and they need to concentrate on multiple levels of security within each of those systems. He advises that security should be considered in the planning stage, not after you’ve already developed a product. “You need to think about it upfront and plan it as part of the operational aspect of the device… that you’re building,” he comments.
Resources
Paul Clayson on LinkedIn
AgilePQ.com
Call Paul Clayson at (336)380-2800
