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Tribute to Cormac McCarthy-Lessons for the Compliance Professional

Cormac McCarthy died last week. According to his New York Times (NYT) obituary, he was “the formidable and reclusive writer of Appalachia and the American Southwest, whose raggedly ornate early novels about misfits and grotesques gave way to the lush taciturnity of “All the Pretty Horses” and the apocalyptic minimalism of “The Road,” died on Tuesday at his home in Santa Fe, N.M. He was 89.” I came to McCarthy through his work All The Pretty Horses and it was one of the seminal books I have ever read. The only book I can compare it to is Now Let’s Us Praise Famous Men by James Agee and photographer Walker Evans. (Evan’s photos are as spectacular and as equally famous as Agee’s prose.) So today, as my tribute to McCarty, I wanted to take a deep dive into All The Pretty Horses and mine it for leadership lessons for the compliance professional. 

Story Synopsis

All the Pretty Horses was published in 1992. It’s the first book in McCarthy’s Border Trilogy. The story begins in 1949 and is centered around the life of John Grady Cole, a 16-year-old who grew up on his grandfather’s ranch in San Angelo, Texas. After his grandfather’s death, his mother decides to sell the ranch, leaving John Grady, a born and bred cowboy, deeply affected.

Instead of giving in to the changing times, John Grady and his best friend, Lacey Rawlins, decide to head south to Mexico, looking for work as ranch hands. On their way, they encounter a volatile and troubled teenager, Jimmy Blevins, who despite their reservations, joins them. In Mexico, they find work on a vast ranch owned by Don Héctor Rocha y Villareal. John Grady becomes an accomplished horse breaker and falls in love with Don Hector’s daughter, Alejandra, which is forbidden given their different social classes.

However, their peaceful existence is disrupted when Blevins’ past catches up with them. Blevins is accused of horse theft and murder, and John Grady and Rawlins are arrested as his accomplices. Blevins is executed without a trial, while John Grady and Rawlins spend time in a harsh Mexican prison. After enduring the brutal prison conditions, they are released due to the efforts of Alejandra’s great aunt. However, Alejandra, under pressure from her family, ends her relationship with John Grady, which leaves him heartbroken.

John Grady returns to Texas and finds that the world he once knew has changed irreversibly. The novel ends with him setting off into the sunset, uncertain about his future, but with an unbroken spirit and love for the cowboy way of life.

The novel is a coming-of-age story that explores themes of loss, love, and the tension between the old world and the new. McCarthy’s unique narrative style, characterized by minimal punctuation and lyrical prose, underscores the raw beauty and harsh realities of life in the American Southwest and northern Mexico.

Leadership Lessons

All the Pretty Horses presents leadership lessons for the compliance professional through its protagonist John Grady Cole and his experiences. Here are some key leadership lessons we can glean for the compliance professional include:

Decision-Making: John Grady often must make tough decisions, like when he decides to leave his hometown to find a life that suits him better. His choice to help Blevins, despite the risk, also shows a lot about his character. Compliance leadership lesson– compliance professionals must understand that leadership often involves making difficult decisions, with both immediate and long-term consequences.

Responsibility: John Grady takes responsibility for his actions and their consequences. He faces up to his punishments and doesn’t shy away from difficult tasks. Compliance leadership lesson-every compliance professional must accept responsibility for their decisions, good or bad.

Courage: Throughout his journey, John Grady consistently shows courage, whether it’s dealing with the harsh conditions in the Mexican prison or standing up for his values. Compliance leadership lesson– every compliance professional needs to have courage to face adversity, take risks, and stand up for what they believe in. Sometimes you must speak truth to power and be willing to accept the consequences.

Perseverance: John Grady’s determination to survive and maintain his dignity, even in the harshest circumstances, reflects a crucial quality of a leader. Compliance leadership lesson-every compliance professional needs to show determination and the ability to bounce back from setbacks.

Respect and Empathy: John Grady respects the individuals he interacts with, from his fellow cowboys to the horses he works with. Compliance leadership lesson-every compliance professional must respect your colleagues and demonstrate empathy for their challenges in doing business going forward, which are qualities that are critical for a leader to have when dealing with their team.

Integrity: John Grady has a strong sense of moral integrity, sticking to his principles even when faced with challenging situations. Compliance leadership lesson-every compliance professional must always demonstrate integrity in all aspects of your professional life. This is a key trait for leaders, who must maintain integrity and honesty.

Adaptability: Even though John Grady faces a world that is changing around him, he learns to adapt while staying true to his values. Compliance leadership lesson-every compliance professional must adapt to new risks your business meets; whether through new business initiatives or a global pandemic. In short, compliance leaders must demonstrate the ability to adapt to changing circumstances while maintaining core values is crucial.

Failure: Through his relationship with Alejandra, John Grady learns about love, loss, and sacrifice. These experiences, though painful, help him grow and mature as a leader. Compliance leadership lesson-every compliance professional will have failures. How you learn from them will be a key to your development. Compliance professionals need to understand that personal growth often comes through fighting through difficulty.

If you have never done so, I would urge you to read All The Pretty Horses and I hope you find it as moving as I did.

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Sunday Book Review

Sunday Book Review – June 18, 2023 – The Books on Venture Colonialism Edition

In the Sunday Book Review, I consider books that interest the compliance professional, the business executive, or anyone curious. It could be books about business, compliance, history, leadership, current events, or anything else that might interest me. Books on venture capitalism are ubiquitous. In today’s edition of the Sunday Book Review, we review books on its forebearer, venture colonialism.

  • Empire, Inc. by Peter Stein
  • The Company State by Peter Stein
  • Empire of Influence by Callie Wilkinson
  • Adventurers by David Howarth
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Daily Compliance News

Daily Compliance News: June 17, 2023 – The Glenda Jackson Tribute 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:

  • CoinEx leaves the US. (WSJ)
  • Ja Morant was suspended for 25 games. (ESPN)
  • The invidiousness of corruption. (Bloomberg)
  • How large risk is your cloud? (FT)
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Because That's What Heroes Do

Because That’s What Heroes Do – Firefly – Episode 6, Our Mrs. Reynolds

Megan and I go in a different direction for our next sci-fi series as we take up the 2002 series Firefly. The show is an American space Western drama television series. The series is set in the year 2517, after the arrival of humans in a new star system, and follows the adventures of the renegade crew of Serenity, a “Firefly-class” spaceship. The ensemble cast portrays the nine characters who live on Serenity.

Tom Fox and Megan Dougherty dive deep into Firefly, Episode 6, discussing everything from action scenes to the portrayal of women in media. They analyze the use of biblical verses to justify seduction in a marriage, while in another, they unpack the problematic gender dynamics present at a party scene. Throughout the series, they provide insightful commentary and analysis, drawing parallels to broader societal issues related to patriarchy and gender roles. Tune in to hear their breakdown of popular shows like Firefly and their engaging discussions about character development and plot twists that will keep you on the edge of your seat. Follow Tom Fox and Megan Dougherty as they explore the fascinating world of TV and film, and discover why Because That’s What Heroes Do is a must-listen podcast for anyone who loves good storytelling.

 Highlights:

  • Discussion of Firefly Episode 6
  • Controversial seduction scene discussion
  • Saffron’s sabotage and Jane’s trade
  • Unexpected Twist in a Space Action Thriller
  • Saffron’s portrayal and Inara’s motives

 Resources:

Megan Dougherty 

LinkedIn

One Stone Creative

Twitter

Tom 

Instagram

Facebook

YouTube

Twitter

LinkedIn

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Because That's What Heroes Do

Because That’s What Heroes Do – Firefly – Episode 5, Safe

Megan and I go in a different direction for our next sci-fi series as we take up the 2002 series Firefly. The show is an American space Western drama television series. The series is set in the year 2517, after the arrival of humans in a new star system, and follows the adventures of the renegade crew of Serenity, a “Firefly-class” spaceship. The ensemble cast portrays the nine characters who live on Serenity.

Get ready for an emotional rollercoaster as hosts Tom Fox and Megan Dougherty discuss Firefly episode 5, “Safe.” From the contrast of relationships encountered by Simon to the intolerance of religion displayed in the town, this episode is sure to wow you! Tom and Megan speculate about the identity of Shepherd Book while talking about the negotiation scene with the cattle buyers and the action that followed. They even discuss the cultural impact of “The Crucible” and the risks of staying hidden. You will want to understand their interpretation of the tough choice Captain Malcolm Reynolds had to make when leaving Simon and River behind to save Shepard. Listen to Tom and Megan as they wrap up the episode and hint at a new adventure in the next one!

 Highlights:

  • Themes and Action in Episode 5 of Show
  • The emotional journey of characters in a small community
  • Cultural Influence: “The Crucible” and “Firefly”
  • Mal’s decision-making and character growth

 Resources:

Megan Dougherty 

LinkedIn

One Stone Creative

Twitter

Tom 

Instagram

Facebook

YouTube

Twitter

LinkedIn

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Kerrville Weekly News Roundup

Kerrville Weekly News Roundup: June 17, 2023

Welcome to the Kerrville Weekly News Roundup. Each week, veteran podcaster Tom Fox and his colleagues Andrew Gay and Gilbert Paiz get together to go over a couple of their favorite stories from the past week from Kerrville and the greater Hill Country. Sit back, enjoy a cup of morning coffee and listen in to get a wrap up of the Kerrville Weekly News. We each consider two of our favorite stories and talk about the upcoming weekend’s events which will enjoy or participate in this weekend.

In this episode, Tom and Andrew discuss the following stories which caught their attention over the past week.

·      Tom talks about a trial balloon to change the time for citizen comment in the City Council Meeting and Flag Day.

·      Andrew talks about potential move of the County Tax office and new condos in Hunt.

·      Andrew shouts out to all the dads listening for Father’s Day and Tom reminds everyone to be safe this weekend.

Resources

Tom Fox on LinkedIn

Gilbert Paiz on LinkedIn

Andrew Gay on LinkedIn

Texas Hill Country Podcast Network

Categories
Daily Compliance News

Daily Compliance News: June 16, 2023 – The Goldman Probed 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.

  • SEC and FED looking at Goldman roll in failed SVB. (WSJ)
  • Ecommerce and forced labor. (NYT)
  • Former Ukrainian Judge gets 10 years for corruption. (RadioFreeEurope)
  • Senate confirms first Muslim, female judge. (Reuters)
Categories
31 Days to More Effective Compliance Programs

One Month to a More Effective Compliance Program with Boards – What Is Your Board’s Investigation Protocol

Many companies have an investigation protocol in place when a potential Foreign Corruption Practices Act (FCPA) or other legal issue arises. However, many Boards of Directors do not have the same rigor when it comes to an investigation, which should be conducted or led by the Board itself. The consequences of this lack of foresight can be problematic because if a Board of Directors does not get an investigation, which it handles right, the consequences to the company, its reputation, and value can all be quite severe.

In an article in the Corporate Board magazine, entitled “Successful Board Investigations”; David Bayless and Tammy Albarrán, wrote about five key goals that any investigation led by a Board of Directors must meet.

They are:

    • Thoroughness – The authors believe that one of the key, and most critical, questions that any regulator might pose is just how thorough is an investigation; to test whether they can rely on the facts discovered without hav­ing to repeat the investigation themselves. Regulators tend to be skeptical of investigations where limits are placed (expressly or otherwise) on the investigators, in terms of what is investigated, or how the investigation is conducted. This question can be an initial deal-killer particularly if the regulator involved views an investigation insuf­ficiently thorough, its credibility is undermined. And, of course, it can lead to the dreaded ‘Where else’ question.
    • Objectivity – Here the authors write that any “investigation must follow the facts wherever they lead, regardless of the conse­quences. This includes how the findings may impact senior management or other company employees. An investigation seen as lacking objectivity will be viewed by outsiders as inadequate or deficient.” I would add that in addition to the objectivity required in the investigation, the same must be had with the investigators themselves. If a company uses its regular outside counsel, it may be viewed with some askance, particularly if the client is a high-volume client of the law firm involved, either in dollar amounts or in several matters handled by the firm.
    • Accuracy – As in any part of, a best practices anti-corruption compliance program, the three most important things are Document, Document, and Document. This means that the factual findings of an investiga­tion must be well supported. For if the developed facts are not well supported, the authors believe that the investigation is “open to collateral attack by skeptical prosecutors and regulators. If that happens, the time and money spent on the internal investigation will have been wasted, because the government will end up conducting its investigation of the same issues.” This is never good and your company may well lose what little credibility and goodwill that it may have engendered by self-reporting or self-investigating.
    • Timeliness – Certainly in the world of FCPA enforcement, an internal investigation should be done quickly. This has become even more necessary with the tight deadlines set under the Dodd-Frank Act Whistleblower provisions. But there are other considerations for a public company such as an impending Securities and Exchange Commission (SEC) quarterly or annual report that may need to be deferred absent as a timely resolution of the matter. Lastly, the Department of Justice (DOJ) or SEC may view delaying an investigation as simply a part of document spoliation. So timeliness is crucial.
    • Credibility – One of the realities of any FCPA investigation is that a Board of Directors-led investigation is reviewed after the fact by not only skeptical third parties but also sometimes years after the initial events and investigation. So not only is there the opportunity for Monday-Morning Quarterbacking but quite a bit of post-event analysis. So the authors believe that any Board of Directors-led investigation “must be (and must be perceived as) credible as to what was done, how it was done, and who did it. Otherwise, the board’s work will have been for naught.”

    Three Key Takeaways

    1. The Board should have a written protocol for investigations prepared in advance.
    2. This gives cover to a Board when regulators come knocking or other third parties seek review.
    3. Remember the 5 goals of any Board led investigation.

     

Categories
Principled Podcast

Principled Podcast – S9 E17 – How Compliance Professionals Can “Send the Elevator Back Down”

What you’ll learn on this podcast episode

There are certain people you meet in your professional career that continue to have an impact on you and your industry, long after that initial meeting. For Principled Podcast host Meredith Hunt, that person is Mary Shirley, the former head of Integrity and Compliance Education at Fresenius Medical Care (now head of compliance for Masimo) and co-host of the Great Women in Compliance podcast. In this episode, the two discuss how ethics and compliance professionals can better amplify their peers and build community, using guidance from Mary’s book Sending the Elevator Back Down. They also explore themes from Mary’s upcoming book on how E&C leaders can make the most impact on their programs with limited resources.

Guest: Mary Shirley

Mary Shirley – Grayscale

Mary Shirley is a New Zealand-qualified lawyer with 18 years of ethics and compliance experience that includes working for data privacy and antitrust regulators, in-house and private practice/consultancy across five countries and four regions of the world.  

Mary co-hosts the Great Women in Compliance Podcast, which aims to create a platform for the outstanding achievements of women in the field and share ideas and provide learning opportunities for everyone in compliance. 

She co-authored the book Sending the Elevator Back Down: What We’ve Learned from Great Women in Compliance (CCI Press, 2020) and has a second book highlighting trailblazing and innovative ideas to level up compliance programs, coming out later in 2023.  

She has been bestowed the honor of being named a Compliance Week Top Mind 2019, Trust Across America 2020 Top Thought Leader in Trust, and Excellence in Compliance Awards 2022 Mentor of the Year. 

Host: Meredith Hunt

Meredith Hunt – Grayscale

Meredith Hunt came to LRN in early 2023 as a formidable compliance generalist, with experience in quality management, project management, regulatory compliance, policy drafting, and compliance program implementation and management. As a self-proclaimed compliance “nerd,” Meredith works as an ethics and compliance specialist on LRN’s Advisory team. In thicapacity, she leads LRN’s code of conduct assessment and benchmarking practice and advises clients on how to incorporate code of conduct best practices. Meredith also manages client projects across a range of industries, including code of conduct development and E&C program evaluations. 

Categories
Career Can D0

The Journey of Reinvention: Navigating Career Transitions and Finding Purpose with Alison Hall

Are you feeling stuck in your career? Are you searching for a sense of purpose and fulfillment in your work? In this week’s episode of Career Can Do, we dive into the world of reinvention and self-discovery with guest Alison Hall. Alison is the founder of Change Agent Coaching for Women. With a background as a CPA and corporate strategist, Alison now helps others navigate transitions, build businesses, and create their dream lives. Alison joins Mary Ann Faremouth to explore the power of reinvention and the importance of finding passion and purpose in your work. They discuss strategies for identifying your values, strengths, and interests, and explore the concept of job crafting to make your current role more meaningful. 

Reinvention is born out of a sense of dissatisfaction. It’s important to listen to your inner voice and recognize when it’s time for a change, Alison says. However, entrepreneurship is not the only path to fulfillment. While many individuals dream of being their own boss, there are risks and challenges that come with starting a business. It’s essential to assess your financial and operational readiness before taking the leap. Sometimes, the answer lies in retooling your current career or finding ways to add meaning within your existing role.

 

Alison introduces the concept of job crafting, which involves customizing and reshaping your role to make it more fulfilling. This can include altering tasks, building relationships, and changing your perspective on the value you bring to your work. Taking responsibility for your own happiness and finding ways to add meaning can transform your experience. Reinvention and change don’t always have to be radical. Small tweaks and adjustments in your career and life can have a significant impact. Setting two to three solid goals at a time and working towards them can lead to increased life satisfaction and success.

 

Both Mary Ann and Alison emphasize that no one else is responsible for your happiness and fulfillment in life. It’s essential to take ownership of your own journey and make the necessary changes to improve your situation. If you’re unhappy, it’s up to you to take action and find solutions.

 

Resources

Alison Hall on Website | LinkedIn | Email

Faremouth.com