Categories
Greetings and Felicitations

Ulysses at 100-Lessons for the 21st Century Compliance Professional

Matt Kelly once challenged me write a blog post for Bloomsday. Well aware of my great love for Joyce’s magnum opus, I accepted the challenge. This year is the 100th anniversary of the publication of the book. To celebrate this event, the author James Joyce and my passion for compliance, I have decided to do a 5-part podcast series on Ulysses. Over this podcast series, I will highlight some of the book and commentary and tie what Joyce, Dublin, Leopold Bloom and his wife Molly, together with his mentor Stephen Daedalus can teach the modern compliance professional. I hope you will join me in the short celebration and trip through Dublin 1904 for the 100th anniversary of Bloomsday. In Part 1, why does Joyce and Ulysses still matter.

Resources

The Teaching Compliance-James Joyce Ulysses, by James Heffernan

Categories
Innovation in Compliance

Compliance Insights from Traliant: Episode 1-John Arendes on Transforming Training from Boring to Brilliant

Welcome to a special five-part podcast series on the New Traliant, sponsored by Traliant. Over this series, we will discuss what is new at the company and key issues that Traliant is helping to lead and define the online training industry in going forward. Over this five part series I will visit with  John Arendes, Chief Executive Officer (CEO) at the company on what is new at Traliant. Some of the topics we consider are:

  • What’s new about Traliant?
  • Why is the New Traliant so significant now?
  • How hasTraliant built upon prior strengths to great truly superior online training?

Resources
Traliant Website
John Arendes on LinkedIn

Categories
The ESG Report

How FedEx Approached ESG with Aaron Nicodemus


 
Tom Fox welcomes back Aaron Nicodemus to the ESG Report. Aaron is a writer at Compliance Week, a magazine that provides the latest information in the ethics, governance, risk, and compliance space. He primarily writes about regulatory policy and compliance trends. In this week’s show, he and Tom discuss Aaron’s new article series about FedEx’s journey on ESG. 
 

 
The Inspiration Behind The Articles on FedEx and Their ESG Journey
Justin Ross, CCO at FedEx, was dubbed the CCO of The Year at Compliance Week 2021. After he won the award, he and Aaron discussed the new efforts FedEx was venturing into. One of the initiatives that came up was FedEx’s environmental plan for the future. After extensive research, Aaron realized that “the extent of [FedEx’s] ESG initiatives went much further than I had realized”. This intrigued him and he decided to write the series based on his findings. 
 
How FedEx Plans to Manage ESG
Tom asks Aaron how a delivery company, that spends exorbitant amounts on fuel and vehicle maintenance, could reframe that into an ESG issue. Aaron replies that those were the first questions FedEx asked themselves when it conceptualized its environmental initiative. They decided to focus on reducing their emissions; that worked well alongside their fuel reduction initiative for a time. They determined that they could be more efficient with their jets, by ensuring that the engine does not idle more than necessary. However, as Aaron points out, emissions and fuel reduction are not a linear process, “Their biggest problem with their emissions is that because they’re growing so fast, they’re making more deliveries, they’re making more flights through the air, and they just have trouble keeping their emissions down because they’re expanding so fast.”  
 
Ebb and Flow of FedEx’s Environmental Initiative 
Aaron says, “One of the biggest touch points for FedEx with its ESG initiative is transparency.” He explains that they want stakeholders to understand their goals and the journey to get there so that when they have setbacks, they’re all accounted for. For example, FedEx has ordered over 20,000 electric cars, to reduce exhaust emissions into the environment but only received five of them. He adds that they had another goal to increase an alternative source of jet fuel but they were having an issue with supply, and they ended up having to postpone the idea several times. However, since they are in constant communication with their investors, employees, and customers, they can comfortably discuss their failures, how close they got to achieving them, and why they did or did not achieve them.
 
Resources
Aaron Nicodemus | LinkedIn | Twitter 
Compliance Week | Compliance Week Profile
 

Categories
FCPA Compliance Report

Mike DeBernardis on Compliance Developments from Q1 2022


In this episode of the FCPA Compliance Report I welcome back Mike DeBernardis, a partner at Hughes Hubbard, about some of the key developments in ethics compliance and FCPA from Q1 2022. Highlights include:

  •  Q1 brought resolutions that were excellent examples for training and increasing understanding of compliance issues.
  •  One of the more difficult aspects of compliance is scoping investigations.
  • View input from your monitor as an opportunity to truly improve your processes, procedures, and controls. Having a positive relationship with them is hugely valuable.
  • Developing an investigation plan and protocols is an iterative process.
  • Changes to the SEC Whistleblower program.
  • Anti-corruption implications of the Russian invasion of Ukraine.

Resources
Hughes Hubbard & Reed website
Mike DeBernardis 
Coburn and the Attorney/Client Privilege

Categories
Daily Compliance News

June 13, 2022 the Wells Fargo Under Investigation (Again) Edition


In today’s edition of Daily Compliance News:

  • Senate bill to have CFTC regulate crypto. (WaPo)
  • Wells Fargo is under criminal investigation for fraudulent interviews. (NYT)
  • SEC begins an investigation into Goldman Sachs over ESG reporting. (WSJ)
  • Finance teams prepare for new ESG regs. (WSJ)
Categories
Blog

Transforming Training From Boring to Brilliant

Welcome to a special five-part blog post series on the New Traliant, sponsored by Traliant, LLC. Over this series, we will discuss what is new at the company and key issues that Traliant is helping to lead and define the online training industry in going forward. I will visit with John Arendes, Chief Executive Officer (CEO), on what is new at Traliant and what the Department of Justice (DOJ) has communicated to the compliance community regarding its expectations around online training and communications; Maggie Smith, Vice President of Human Resources, on the role of diversity, equity and inclusion (DEI) in your corporate environmental, social and governance (ESG) program; and Scott Schneider, Head of Content Development, on your Code of Conduct and anti-corruption training. In Episode 1, I visit with John Arendes on the New Traliant.
Arendes was brought on to lead the company in late 2021. It has always been known as one of the most innovative online training companies with its fabulous tagline of “Boring to Brilliant.” Arendes went on to note that the “good news is there has been extremely strong leadership but one of the co-founders and the other co-founder was getting ready to do the same.” He went on to relate that he was brought into to build upon their success.
The biggest challenge in the online training arena is how do you make compliance training more engaging, and how do you really design a product suite that changes behavior. Indeed, this is a challenge that Arendes has worked on at other compliance organizations, training engagement. Arendes said, “what has really been the secret sauce in terms of engagement is making the courses applicable to the environment in which one takes it.” He provided the following example, “we have a preventing discrimination and harassment course that is designed for healthcare, and it is in this health care environment, which is much different than those that work in a retail environment or an or office environment. When individuals can see their environment replicated in a hospital setting in a doctor’s office, working with nurses, and creating real life scenarios; that is what makes the Traliant training much more engaging.” Further, he noted, “We’ve had customers tell us that they look forward to our next season, with new scenarios, real life scenarios taken from the news.” When employees take a Traliant online training module, “they can relate to it and that has really been a significant factor in why our success has been so strong.”
A key area of Traliant innovation has been in the area of how you make behavioral changes through online training. Arendes said that a key from the online training perspective is to have an impact around the design of training so that it engages employees. He pointed to Code of Conduct training and noted that a key driver is “how do we create code of conducts that represent the environment in which that company culture is based on? How does an organization think about anti-bribery/anti-corruption and all those other components that the DOJ wants organizations to look at?” He feels it should be based on “real life scenarios so that people understand clearly, what is required of them, not just from reading a document.”
Another change has been in damages. Not that the DOJ has increased fines and penalties but that reputational damages has become as important or even more important than regulatory fines and penalties. This really speaks to overall corporate culture and how a company expresses the importance of what they are doing simply beyond “just training.” This
has led to many companies embracing the concept of not simply online training but online education. He believes this is starting to change culture, as employees “realized that the organization had taken the time to reflect and think about their own mission, what the employees hear, is that this engagement was being rolled out.” He noted that the challenge for companies is how to make that transition, from ‘training’ to ‘education’. Traliant has gone a long way towards solving this because it is able to do these online educational “customizations, that allow organizations to express their culture and the importance of why this is in their culture at a very cost-effective way.”
Join us for our next episode where we look at current DOJ expectations around compliance training.
Check out the podcast with John Arendes here.