Day: May 4, 2023

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31 Days to More Effective Compliance Programs

One Month to a More Effective Compliance Program in Training and Communications – Using Social Media to Innovate in Compliance

I am a huge fan of using social media in your compliance function. But how can you get your arms around how to structure such a program for your company?  After acknowledging that social media focuses on the social aspects of communication, the most important thing to remember is that communication in social media is two-way, both inbound and outbound. It helps to bring your employee base together in an efficient manner to create an environment conducive to compliance for your organization. It also has the benefit of continued engagement. It is more than putting on training or even a set of initiatives; you can continue the conversation and enthusiasm about compliance going forward throughout the year. The authors break this down further into three parts that emphasize 1) the need to listen to and learn from user-generated content, 2) the need to engage and facilitate dialogue with employee innovators, and 3) to find an audience of early adopters to create excitement and collect feedback.

If your goal in the compliance function is to create awareness and publicize your compliance program and initiatives, social media can be a powerful tool. This is so paramount that it should become a core activity of your compliance function. Using social media tools, your compliance function can tell the story of compliance, communicate expectations, and even train. Yet again, it is simply more than a one-way tool. Just as employees are more apt to tell you about a concern immediately or soon after being trained on that issue, they may well communicate directly with you after receiving social media communication on subjects such as managing third-party relationships.
CCOs and compliance practitioners must develop a dedicated compliance strategy around social media in the context of their corporate objectives. It allows you a 360-degree view of compliance, through which you can take input from your employee base and create a compliance experience that your employees will embrace.

 Three key takeaways:

  • Never forget that social media is a two-way communication.
  • Company employees are the customers of the compliance department.
  • As with all compliance issues, assess what works for your company and appropriately tailor your social media approach.

For more information, check out The Compliance Handbook, 4th edition here.

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Daily Compliance News

Daily Compliance News: May 4, 2023 – The 5% of Global GDP Edition

Welcome to the Daily Compliance News. Each day, Tom Fox, the Voice of Compliance, brings you compliance-related stories to start your day. Sit back, enjoy a cup of morning coffee, and listen to the Daily Compliance News. All from the Compliance Podcast Network. Each day we consider four stories from the business world, compliance, ethics, risk management, leadership, or general interest for the compliance professional.

Stories we are following in today’s edition:

  • Senate panel explores ethics at Supreme Court. (Reuters)
  • Poloniex pays $7.6MM for sanctions violations. (WSJ)
  • Corrupt costs the world 5% of global GDP. (UN)
  • B-Corp attracts better talent. (BBC)
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Compliance Week Conference Podcast

Compliance Week 2023 Speaker Series – Hemma Lomax on Risk Assessments

In this episode of the Compliance Week 2023 Speaker Preview Podcasts series, Hemma Lomax discusses some of her panel at Compliance Week 2023,  “Approaches to Risk Assessment Programs – Benchmarking Best Practices Across Industries.”

Some of the issues she will discuss in her presentation is:

  • How cross-functional professionals are structuring their risk assessment programs, benchmark best practices, and walk away with ideas to enhance their program;
  • Cohesive approaches to concurrent risk assessments; and
  • A discussion on the insourcing vs. outsourcing external assessments and weighing the pros and cons of each.

I hope you can join me at Compliance Week 2023. This year’s event will be May 15-17 at the JW Marriott in Washington, DC. The line-up of this year’s event is simply first-rate, with some of the top ethics and compliance practitioners around.

Gain insights and make connections at the industry’s premier cross-industry national compliance event offering knowledge-packed, accredited sessions and take-home advice from the most influential leaders in the compliance community. Back for its 18th year, compliance, ethics, legal, and audit professionals will gather safely face-to-face to benchmark best practices and gain the latest tactics and strategies to enhance their compliance programs. And many others to:

  • Network with your peers, including C-suite executives, legal professionals, HR leaders, and ethics and compliance visionaries.
  • Hear from 75+ respected cross-industry practitioners who are CEOs, CCOs, regulators, federal officials, and practitioners to help inform and shape the strategic direction of your enterprise risk management program.
  • Hear directly from the two SEC Commissioners, gain insights into the agency’s enforcement areas, and walk away with guidance on remaining compliant within emerging areas such as ESG disclosure, third-party risk management, cybersecurity, cryptocurrency, and more.
  • Bring actionable takeaways from your program from various session types, including ESG, Human Trafficking, Board obligations, and many others, for you to listen, learn and share.
  • Compliance Week aims to arm you with information, strategy, and tactics to transform your organization and career by connecting ethics to business performance through process augmentation and data visualization.

I hope you can join me at the event. For information on the event, click here. Listeners of this podcast will receive a discount of $200 by using code TF200 on the link here.

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The Circle of Gumption

The Circle of Gumption – Creating and Maintaining Healthy Relationships

Zig Ziglar Said,  “I Believe Man was designed for accomplishment, engineered for success, and endowed with the seeds of greatness.” Kenneth O’Neal carries this tradition forward in his work and podcast, The Circle of Gumption, showing how maximizing your God-given talents and abilities leads to a successful, well-balanced existence in all areas of life. Join co-hosts Tom Fox and Kenneth O’Neal as they explore The Circle of Gumption to help change your life mentally, spiritually, physically, financially, and professionally by improving the health of your relationships with others and yourself.

Join Tom Fox and Kenneth O’Neal on their latest episode of Circle of Gumption, where they delve into the fundamentals of the Circle of Gumption and the four pillars of being, doing, giving, and creating a legacy. In this episode, they discuss the importance of relationships and how they relate to personal development and create a kind and gentle atmosphere. They also emphasize that effective communication and engagement are key to success in the workplace, with topics like the power of compliments, listening skills, body language, and the impact of a positive attitude. Remember to listen out for the word of the week and relationships, and reflect on how it can impact your life. If you’re interested in discussing strategy, goal setting, and discovery to learn more about how to serve them, reach out to Tom and Kenneth. Tune in to Circle of Gumption for insights on creating a life of integrity, self-discipline, and personal development!

Having healthy relationships is crucial for our mental and emotional well-being. So here are three tips to improve your relationships:

1. Communication is key: Good communication is the foundation of any healthy relationship. Make sure you express your thoughts and feelings clearly to your loved ones and listen actively when they share their own.

2. Practice Empathy: Try to put yourself in other people’s shoes and understand their perspective. This way, you can empathize with their feelings and experiences.

3. Spend Quality Time: Make time for the people you care about. Whether it’s a date night or a simple coffee catch-up, spend time with your loved ones and make meaningful memories together.

So, if you want to learn more about the importance of relationships in your life and how to improve your relationships, tune in to this week’s episode of Circle of Gumption. Remember to write down the week’s words and reflect on how you can improve your life through your relationships.

We highly recommend tuning in to this episode to hear Kenneth O’Neal’s inspiring story of turning adversity into a life of purpose and action.

Resources

Kenneth O’Neal

The Circle of Gumption

Tom Fox

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