We go to Ukraine and look at the recent step up of Ukraine’s import ban on Russia-made products. After that, we review the EU’s new guideline on the upcoming “Local Operator” requirement on “distance sellers” under EU’s market surveillance regulations.
In this episode of The Ethics Experts, Nick welcomes Lisa Beth Lentini Walker, CEO and Founder of Lumen Worldwide Endeavors, to the show.
Welcome to a special five-part podcast series sponsored by K2 Integrity. This month we consider the intersection of compliance, diligence and mergers & acquisitions (M&A). I am joined by Hannah Coleman, Managing Director in K2 Integrity’s Investigations and Risk Advisory practice. She specializes in fast-moving, complex, and specialized research assignments in a variety of areas including investigative due diligence, corporate contests, intellectual property investigations, media transparency assessments, and litigation support. Also joining this week’s series is Tom Pannell, Managing Director in K2 Integrity’s Investigations and Risk Advisory practice. With a focus on financial investigations, Tom leads multi-disciplinary teams working with corporate clients and their legal advisors responding to crisis events, including multi-jurisdictional white-collar crime, misconduct, financial statement fraud, anti-bribery and corruption incidents, and compliance risk advisory work. In this second episode, I visit with Tom on concerns in the current deal making scene.
Join us in our next episode where consider avoiding potential reputational issues.
For more on K2 Integrity, check out their website, here.
Compliance Evangelist Tom Fox sits in for an insightful yet powerful conversation with James Gellert, Chairman and Chief Executive Officer (CEO) of Rapid Ratings International. In this episode, glean the lessons that companies should never forget from the 2008 Financial Crisis to the Coronavirus health crisis and the total evolution of the business of compliance.
Key points discussed in this episode:
✔️ Finance and financial health is an excellent example of a risk area that historically may have been isolated or siloed for the finance team or a finance person within the supply chain to look at. But in reality, all of these risks are connected.
✔️ Why the Rapid Rating approach helps companies manage their third-party supply chains through assessing financial health. We’ve seen significant changes over the last five to 10 years in the importance of financial health and how it helps define risk management programs.
✔️ Understand what a 3rd party ecosystem is and why companies need to understand the breadth and scope of their 3rd parties are really powerful. The more businesses can collaborate and communicate with each other, supply chain, risk management, supplier collaboration; these are crucial elements to creating the most robust ecosystem and benefiting both sides of that equation.
✔️ The silver lining to the Covid crisis made supply chain risk management stronger from now on, and more companies were able to adopt techniques than we ever had before.
✔️ More companies will benefit from more robust ecosystem creation and strengthening the ecosystems they’ve got into the future by embracing the importance of the digitalization of data they already have. Companies will need to spend a lot of time, money, and resources cleaning their data on their third parties and then implementing systematic approaches to managing those risks.
James H. Gellert is the Chairman and CEO of RapidRatings International. Previously, he was the Managing Partner of Howland Partners, LLC, and Howland Securities LLC, which provided consulting, business development, capital raising, and M&A advisory to companies in the financial information and technology markets. Before those positions, he served as CEO of a number of technology companies, including wireless software and research companies SkyScout and Unstrung.
Website: www.rapidratings.com
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.
Order your copy OR copies of The Compliance Handbook: A Guide to Operationalizing Your Compliance Program. Save 25% off.
http://www.lexisnexis.com/fox25
Kayvan Alikhani is the CEO and co-founder of Compliance.ai, a company dedicated to empowering professionals with the smartest regulatory and compliance change management platform. He has over thirty years of experience and expertise in software and cybersecurity. Tom Fox welcomes him to this week’s episode as they discuss modernizing compliance practices and helping risk practitioners do a better job of managing risk.
Red Tech
It used to be that compliance professionals could manage the pace and complexity of regulations and changes happening around them with simple tools. Presently, the scope of changes and complexity has increased, giving rise to a set of modern solutions that can capture, monitor, and take action on these changes. This modern technology is called red tech.
Compliance Meets AI
Tom asks Kayvan to explain what ‘Compliance meets AI’ means to him. Kayvan responds that it means using AI to help compliance professionals make regulatory changes. “Artificial intelligence emerging as a stable, reliable, and cost affordable…. allows for you to model a set of behaviors and be able to predict the outcome of a basically new behavior, or map behavior to a specific classification,” he tells Tom. He explains the necessary components that would make AI work in compliance.
Compliance.ai & Why It’s Unique
Kayvan founded Compliance.ai to answer the question of what can be done in terms of automation. His company removes the “speed bump” users encounter when accessing regulatory content. Content is curated within hours as opposed to days, weeks, and months. Simplifying the tasks of compliance officers allows them to have more time to assist their organizations with changes that may be happening at that particular time. Simplicity enables the organization to convey the proper message to its stakeholders more rapidly.
COVID-19 & Beyond
Kayvan tells Tom that due to the pandemic, his business got more focused on adding business continuity and improving business resiliency policies and making those policies accessible from anywhere at any time. Tom asks him what to expect in red tech risk and compliance in the coming years. “As more and more organizations start building these types of solutions we’re going to see the formation of alliances across the sector where compliance is no longer used as a competitive advantage,” he explains. “The push for privacy regulations is going to be a big catalyst as well in terms of the common practices that are used both for maintaining data protecting data sharing data.”
Resources
Kayvan Alikhani | LinkedIn | Twitter
Are your audit reports effective? Are you communicating your findings in a clear and concise manner?
Sometimes our reports can be written in a watered down way that ends up diluting the points we’re trying to make.
In today’s #jammingwithjason #podcast episode we speak with Sara James who can shed some light on how we can better utilize the words we use in our report writing.
Sara has a background in languages and literature who has studied and taught at universities in France, U.S.A and U.K.
Having then moved into IT and Finance, Sara turned her focus to internal audit. Currently she runs a business called “Getting Words to Work” that is centered around internal audit report writing.
Reach out to Sara and connect on her website: www.saraijames.com or on LikedIn.
Listen in at: http://www.jasonmefford.com/jammingwithjason/
In today’s episode we take a look at the generation before us. We have a lot that we can learn from our forebears, and I even sing about a certain “old man”.
But why are we talking about our elders?
Well there’s a specific man by the name of Warren Buffett that we discuss, along with his value of certain certifications.
Listen in at: http://www.jasonmefford.com/jammingwithjason/
In today’s episode we discuss how professional associations are becoming a thing of the past.
These Associations, like The Shriners or Rotarians… Or a certain Internal Audit related one… Are not meeting the needs of the public and membership is waning.
To join a consistent, confidential community of Chief Audit Executives mentioned in this episode, visit: https://jasonmefford.mykajabi.com/caeforum and schedule your call to see if it’s right for you.
Listen in at: http://www.jasonmefford.com/jammingwithjason/
