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. In this final episode, Kellerman and myself look down the road for what’s next for Compliance. Kellerman sees compliance at a cross-roads today. He believes it needs to evolve from a critical support function while controlling the narrative on how compliance wants to define the functionality, value and relevance of the profession Compliance needs to become a real-time provider of not only compliance insights but also business performance. The compliance function needs new skill sets (new muscles) such as data analytics, digital engagement, advance adult learning and other skills to help change the tune about compliance.
Resources
Jonathan Kellerman LinkedIn Profile
Jonathan Kellerman StoneTurn Profile
StoneTurn
Day: April 27, 2021
Categories
Episode 058 — Andy Hinton
In this episode of The Ethics Experts, Nick welcomes Andy Hinton, former Chief Compliance Officer of Google and GE, to the show.
In 2021 amid the pandemic, the risks haven’t changed, and the enforcements are still mostly related to third parties. In this new episode, compliance consultant Vanessa Rossi explains the importance of third-party risk management for companies and how they should look at program enhancement.
Key points discussed in this episode:
✔️ Socializing across the entire employee base is essential to education and training. What is the law? Why are we doing this? Is it a risk for us? And why do we have to train on this more than once? It takes teaching, messaging, and repeating to ensure that everybody on the team is on board.
✔️ Know that an effective program is the one that you’re constantly upgrading. Even in a mature company with a mature third-party risk program already in place, practitioners must continually engage in risk assessing, monitoring, and incorporating concepts going forward because there is always room for improvement.
✔️ There are a lot of tech solutions out there that you should always be considering. If your program is not evolving, it’s not changing, with the company facing numerous risks every day.
✔️ Collaboration and compliance cross so many different departments. In addition to working with the business sponsor of the third party and with the legal team, there’s Internal Audit and more departments to collaborate with. Socializing and collaboration are soft skills that you need.
✔️Don’t take your eye off the Third Party Management Bill. You’ve got to continue with your due diligence procedures. The beginning of the pandemic put a wet blanket on everything, but you need to continue with your third-party management elements. It is difficult, but you shouldn’t stop doing it because, if anything, engaging with third parties got riskier in specific sectors and certain types of third parties.
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
Order your copy OR copies of The Compliance Handbook: A Guide to Operationalizing Your Compliance Program. Save 25% off.
http://www.lexisnexis.com/fox25
Rashelle Tanner is the Director of Compliance Learning Program at the Office of Legal Compliance at Microsoft. A senior attorney, she is responsible for the trust and integrity learning program for Ethics and Compliance. Rashelle develops and delivers learner-centered anti-corruption and ethical decision-making courses that empower employees to do business the right way. Tom Fox welcomes her to this week’s show to discuss how compliance professionals can incorporate and promote integrity in training, and how to reimagine training in innovative ways for the organization’s ultimate benefit.
The Importance of Integrity
Tom asks Rashelle to explain why integrity is integral to compliance. She stresses that people have to follow rules not just because they’re there, but also because they feel motivated to do so. The focus on “doing the right thing” is becoming less on what you can and cannot do, and more on your day-to-day decisions. Focusing on integrity will help you make more ethical decisions.
Compliance and Integrity Through Storytelling
Rashelle tells Tom about incorporating integrity training through the use of storytelling. She describes how her team takes employees through compliance-related scenarios, and ethical issues, with characters based on workers at all levels of Microsoft. The episodes are based on what motivates people, and how it impacts their decisions. Rashelle remarks that this venture has helped build employee engagement and continues to encourage them to get involved with compliance training. She stresses the importance of keeping the content suspenseful to grab employees’ attention; however, it must also stand alone so that anyone can follow along. It also needs to have specific language in the given content in order to reach the target audience.
Diversity and Inclusion in Compliance
Tom switches to the topic of diversity and asks Rashelle her thoughts on the role of diversity and inclusion in compliance, and how compliance departments can drive that conversation forward. He adds that diversity is natural while inclusion is completely different. Diversity is getting one’s foot in the door while inclusion is being completely embraced and listened to. Rashelle stresses that inclusivity is a responsibility, and one she and her team emphasizes at Microsoft, and even within their serial training programs. She states that representing all walks of life in their episodes is a way of reaching not just their local employees but their international ones as well and making them feel seen and heard.
Resources
Rashelle Tanner on LinkedIn | Twitter
The Learning Guild
