Day: June 13, 2023

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Innovation in Compliance

Perspective is Power with Zoe Routh

Leadership is not about position, but perspective. On this episode of Innovation In Compliance with Tom Fox, guest Zoe Routh shares how her deep connection with the wilderness informs her leadership principles and the importance of shared experiences and real interactions. She and Tom delve into her central belief that perspective is power, how to cultivate an explorer mindset, and the importance of adaptability in a rapidly changing world.

Zoe Routh is a leadership development expert based in Australia. Her career began in the great outdoors, leading canoe trips at a summer camp in Canada, where she discovered her passion for understanding human dynamics in a wilderness setting. This led her to Outward Bound Australia, where she spent nine years honing her leadership and personal development skills. For more than 35 years, Zoe has been working in this field, folding her love for wilderness adventure into her leadership programs. She is the author of multiple books and is dedicated to examining the future of leadership and how we can best prepare for what’s next.

 

You’ll hear Tom and Zoe talk about:

  • The powerful impact of an “explorer mindset” on individuals, teams, and organizations. Zoe encourages actively seeking new inputs and different perspectives.
  • The significance of mapping in leadership: you can use personal maps to understand individual behavior preferences, team maps to appreciate collective dynamics, and idea maps to chart out problems and possibilities.
  • Experiences in the outdoors can foster authentic communication, real connections, and contribute to a heightened leadership consciousness.
  • Adapting involves adopting new behaviors, ideas, and beliefs to meet future challenges. Zoe remarks that it’s important to shift from constantly being in disaster recovery mode to being proactive and adapting to potential changes. This includes anticipatory thinking and developing the skills to better prepare for the future.
  • By seeing challenges and opportunities from multiple perspectives, we can avoid a tunnel vision approach to problem-solving and goal pursuit.
  • Using a root cause analysis as part of leadership training can teach leaders to dig into the causes of a problem and find opportunities for change within an organization, by tracing effects, identifying causes, and suggesting interventions.
  • Zoe explains the use of tools such as Values Mapping to understand the diversity, complexity, and maturity of values within a team, and the Culture Compass to determine the behaviors that are acceptable and those that aren’t in a team dynamic. 
  • Zoe discussed her new book, The Olympus Project, which is a near-future science fiction book set in a climate ravaged environment. The central concept of the book revolves around a new industry of “world designers” who create human environments to contend with the changing climate. It explores larger themes of leadership and community building in a challenging environment and looks at how we can create environments and systems to facilitate leadership development and community harmony.
  • Zoe’s previous book, People Stuff, won the Australian Business Book of the Year Award in 2020.

 

KEY QUOTES:

“One of the things that I believe very strongly that we need to embrace is that perspective is power in leadership. What I mean by that is when we see more, we can lead better.” – Zoe Routh

 

“Adapting is about adopting new behaviors, new ideas, new values and beliefs so that we can better meet what’s coming for us on the horizon.” – Zoe Routh

 

“So between those two things, the Values Mapping and the Culture Compass, we have a way of doing things that will help advance our goals and our mission while keeping the people safe, intact and productive and healthy and happy at work. And that’s really what we want, right? We spend so much time at work, it’s so important that we feel happy and safe and that we enjoy what we’re doing.” – Zoe Routh

 

Resources:

Zoe Routh on the Web | LinkedIn | Twitter | Facebook | Instagram

Zoe Routh Leadership Podcast | The Olympus Project | People Stuff

Categories
Daily Compliance News

Daily Compliance News: June 13, 2023 – The FTC Sues 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:

  • FTC sues to block Microsoft/Activision Blizzard deal. (WSJ)
  • JPMorgan settles with Epstein victims for $290MM. (Reuters)
  • EU will stamp out corruption in Brussels. (Euronews)
  • Stamping out corruption vital for Ukraine. (FT)
Categories
Everything Compliance - Shout Outs and Rants

Everything Compliance – Episode 120, Shout Outs and Rants

Welcome to the only roundtable podcast in compliance. In this episode, we have the gang of Jonathan Marks, Matt Kelly, Jonathan Armstrong, Tom Fox, and Jay Rosen.

1. Matt Kelly shouts out the new Spiderman movie, Spiderman Across the Spider-verse.

2. Jonathan Marks shouts out to Kody Clemens for getting a walk-off hit while his father is in the stands.

3. Tom Fox shouts out to the 9th Circuit Court of Appeals to allow a lawsuit to move forward, which alleges rock n roll lyrics can cause emotional distress.

4. Jay Rosen shouts out to June for having the best sports month each year.

5. Jonathan Armstrong shouts out to all those helicopter pilots hovering outside the London courtroom where Prince Harry is giving testimony in his libel suit.

 The members of Everything Compliance are:

•       Jay Rosen– Jay is Vice President, Business Development Corporate Monitoring at Affiliated Monitors. Rosen can be reached at JRosen@affiliatedmonitors.com

•       Karen Woody – One of the top academic experts on the SEC. Woody can be reached at kwoody@wlu.edu

•       Matt Kelly – Founder and CEO of Radical Compliance. Kelly can be reached at mkelly@radicalcompliance.com

•       Jonathan Armstrong –is our UK colleague, who is an experienced data privacy/data protection lawyer with Cordery in London. Armstrong can be reached at jonathan.armstrong@corderycompliance.com

•       Jonathan Marks is Partner, Firm Practice Leader – Global Forensic, Compliance & Integrity Services at Baker Tilly. Marks can be reached at jonathan.marks@bakertilly.com

The host and producer, ranter (and sometime panelist) of Everything Compliance is Tom Fox the Voice of Compliance. He can be reached at tfox@tfoxlaw.com. Everything Compliance is a part of the Compliance Podcast Network.

Categories
Data Driven Compliance

Data Driven Compliance: Dave Crozier – Everything Lies Within the Data

Are you struggling to keep up with the ever-changing compliance programs in your business? Look no further than the award-winning Data Driven Compliance podcast hosted by Tom Fox. This podcast features an in-depth conversation about the uses of data and data analytics in compliance programs.

The Data Driven Compliance features an insightful discussion between host Tom Fox and guest Dave Crozier from Certa. Dave explains how Certa’s workflow automation platform eliminates swivel chairs, data silos, and process blind spots to make the due diligence process more efficient and trustworthy. They discuss the importance of validating and fact-checking data using validation techniques and exception-based triggers. The conversation also touches on supply chain risk management and the advantages of data-driven controls. Dave emphasizes the need to tailor solutions to an organization’s requirements and resources and benchmark against industry standards. This podcast is a must-listen for compliance officers, board members, and anyone interested in improving their risk management framework. So, tune in to the Data Driven Compliance and learn from industry experts like Tom Fox and Dave Crozier!

 Key Highlights:

·      Digital Transformation and Workflow Automation for Risk Mitigation

·      Importance of Validating Information

·      Supply chain risk management and automation

·      Customized Risk Management Strategies

·      Automation and Transparency for Efficient Compliance

·      Continuous Learning and Workflow Automation in Organizations

 KEY QUOTES:

“I can tell you that, you know, from my own personal experience and our clients’ experiences, that not all data coming from all places is created equal.”

“Having different techniques that could be deployed along the way that don’t add friction to the process. It’s a breadcrumb trailer of authentications that happen for all of these data sources along the way to make sure that, you know, you’re going in the right direction.”

“Think of validating the tax ID that is valid and authentic in the eyes of the registry directly.”

“To be able to capture content and serve it, you know, fit for purpose wise to the user is a critical aspect from our perspective.”

Resources:

Dave Crozier on LinkedIn 

Certa

 Tom Fox 

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Categories
SBR - Authors' Podcast

SBR Authors Podcast – Hal Hershfield, Your Future Self – Part 2

Welcome to the Sunday Book Review, the Authors Podcast! On this episode, Tom is joined by colleague Earnie Broughton for Part 2 of their interview with Hal Hershfield, author of Your Future Self, on Sunday Book Review-Author’s Edition. Join Tom and Earnie as they discuss cutting-edge ethical decision-making and behavior management solutions with Hershfield. The hosts delve into using aging apps and age progression algorithms to bring a vivid picture of one’s future self, ultimately leading to positive actions. But that’s not all. They introduce deep visualization exercises and the ancient tradition of idealism, which can help individuals make better choices and reduce anxiety. Hershfield shares his project about a chatbot that allows people to talk to their future selves, paving the way for groundbreaking research in long-term decision-making. Discover ethical commitment devices and other strategies in this captivating episode.

Tune in to the SBR-Authors Podcast and gain insight into how behavioral science can transform your life.

Key Highlights Include:

  • The Power of Age Progression Algorithms
  • Connecting with Future Self
  • Using Commitment Devices to Achieve Goals
  • Finding Balance with Commitment Devices
  • Multiple Selves and Technological Aids
  • Technology for Long-Term Decision Making

Notable Quotes:

“If we can work with someone on really deeply visualizing their future selves and seeing that person and feeling their feelings, that’s the type of thing that I think can hopefully change behavior.”

“Commitment device is one of my favorite behavioral science topics to explore. The basic idea here is that this version of me wants to eat healthy right now. What a commitment device does is it commits me to act a certain way. It puts constraints on my future behavior.

“The basic idea is I read a letter to my future self, and then I tried to write one back from that person. Fascinating exercise because it forces you to step into the shoes of your future self and see the world through their eyes.”

“When people were asked to do this send and reply exercise, it did cause them to take a step back, and it almost calms the feelings of the situation at hand. And that helped them see the big picture and ultimately feel better now.”

Resources

Hal Hershfield

Hal Hershfield at UCLA

Your Future Self

Tom Fox

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YouTube

Twitter

LinkedIn

Categories
Trekking Through Compliance

Trekking Through Compliance – Episode 12 – The Menagerie (Part Two)

In this episode of Trekking Through Compliance, we consider the episode The Menagerie (Part Two), which aired on November 24, 1966, Star Date 3012.4.

This was the original pilot episode presented to NBC. Spock’s trial continues, and the transmitted scene resumes with Pike in 2254 in a cell with a transparent wall. The Talosians begin their “experiment,” which consists of several illusory situations involving Pike and Vina. The Talosians hope that Pike and Vina will mate and find a race of slaves who will reclaim the war-damaged surface of the planet.

That night, Pike can capture the Keeper as he attempts to confiscate the weapons. The captured crew proceeds to the surface. Number One sets her phaser on overload, preferring to die rather than be enslaved. The aliens have found that humans’ “unique hatred of captivity” makes them unsuitable for the Talosians’ plans, which must be abandoned. The crew beams back to the Enterprise.

Back in 2267, the transmission ends as the Enterprise arrives at Talos IV. The court-martial was a ploy to buy time to bring Pike back to Talos IV, where, if willing, he could enjoy the illusion of everyday life. Pike is transported to the planet and rejuvenated Pike.

Compliance Takeaways:

  1. What happens with your counterparty refuses to comply with FCPA requirements?
  2. When the time comes, will you, as a CCO, speak truth to power?
  3. Sometimes failure and being left behind are options.

 Resources
Excruciatingly Detailed Plot Summary by Eric W. Weisstein for The Menagerie (Part Two)
MissionLogPodcast.com-The Menagerie (Parts 1 & 2)

Categories
31 Days to More Effective Compliance Programs

One Month to a More Effective Compliance Program with Boards – The Board as an Internal Control

James Doty, former Commissioner of the Public Company Accounting Oversight Board (PCAOB) was once asked if the Board or its sub-committee which handles audits was a part of a company’s internal financial controls. He answered that yes, he believed that was one of the roles of an Audit Committee or full Board. I had never thought of the Board as an internal control but the more I thought about it, the more I realized it was an important insight for any Chief Compliance Officer or compliance practitioner as it also applies to compliance internal control.
In the FCPA Resource Guide, 2nd edition, in the Hallmarks of an Effective Compliance Program, there are two specific references to the obligations of a Board. The first is in Hallmark No. 1, which states, “Within a business organization, compliance begins with the board of directors and senior executives setting the proper tone for the rest of the company.” The second is found under Hallmark No. 3, entitled “Oversight, Autonomy and Resources”, where it discusses that the CCO should have “direct access to an organization’s governing authority, such as the board of directors and committees of the board of directors (e.g., the audit committee).” Further, under the US Sentencing Guidelines, the Board must exercise reasonable oversight of the effectiveness of a company’s compliance program. The Department of Justice’s (DOJ) Prosecution Standards posed the following queries: (1) Do the Directors exercise independent review of a company’s compliance program? and (2) Are Directors provided information sufficient to enable the exercise of independent judgment? Doty’s remarks drove home to me the absolute requirement for Board participation in any best practices or even effective anti-corruption compliance program.

A Board’s oversight is part of effective compliance controls, then the failure to do so may result in something far worse than bad governance. Such inattention could directly lead to a FCPA violation and could even form the basis of an independent SOX violation as to the Board.
Three Key Takeaways

  1. A Board must engage in active oversight.
  2. A Board should review the design of internal controls on a regular basis.
  3. Failure to do so could form the basis for an independent legal violation under SOX.