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Innovation in Compliance

Promotions and Podcasts with Brittany Brown and Rob Winters


 
Brittany Brown and Rob Winters are the co-founders of Digitiv, a marketing and website design agency. Brittany is the Business Officer and Rob is Technology Officer of Digitiv. Tom Fox welcomes them to this week’s episode to talk about their company, the benefits of data management, PodOps, and the components of a successful podcast. 
 

 
Data Management: The Core of Digitiv
Digitiv maintains that your website and social media presence are crucial to growing your business. They provide their clients with strategies and marketing efforts that aid growth, one of which is data management. Tom comments that some businesses may think that they are too small to worry about data management. He asks why Brittany and Rob place it as one of their primary services. Rob responds that every business, no matter the size, should start thinking about data management from the start. Whenever the Digitiv team begins to build a new website there is usually some customer data that is not protected by the SSL certificate, making it susceptible to potential hackers. Some organizations even believe that their data is safe and self-managing when in reality it is not. This is why data management is so vital to a company. “It’s really not about protecting customer data but you’re also protecting yourself. You don’t want to open yourself up to potential lawsuits because you’re disregarding certain aspects of data security and integrity for your customer,” Rob argues.
 
What is PodOps?
Tom asks Brittany and Rob to talk about their podcast and their podcasting app. Rob and Brittany started a podcast as a way to continue to grow their business and promote their services. Each episode they discuss “what it truly means to start, grow and thrive as a small business”. It began as a fun thing where they were able to share ideas with other entrepreneurs but eventually evolved into a new revenue stream. When you exhaust your contacts, they tell Tom, it becomes difficult to cast new guests for your show. Their app, PodOps, is “a dating service for podcast hosts and guests to really connect and get interviews scheduled.” It revolutionizes podcast content as we know it, they explain.
 
The Components of a Successful Podcast
Tom asks what Brittany and Rob believe to be the key components of a successful podcast. The first key, they remark, is setting a goal or purpose for the podcast, as it provides a structure to grow fruitfully. You should also be in tune with your listeners, which means that the host should know the topic well enough to conduct it in a way that your listeners would be receptive. A third factor that plays into the success of your podcast is the sound quality. Listeners are “quickly turned off by poor sound quality or poor production”, they tell Tom.  The last component of a successful podcast is providing transcripts, as it widens your audience to people with hearing loss.
 
Resources 
Brittany Brown | LinkedIn | Digitiv  
Rob Winters | LinkedIn | Digitiv  
 

Categories
Sunday Book Review

May 29, 2022 the Memorial Day edition


In today’s edition of Sunday Book Review:

  • Fobbit by David Abrams
  • The Red Badge of Courage by Stephen Crane
  • Thank You For Your Service by David Finkel
  • Billy Lynn’s Long Halftime Walk by Ben Fountain
Categories
Popcorn and Compliance

MCU Series – Antman and the Wasp


In this podcast series, two complete MCU fans, Tom Fox, founder of the Compliance Podcast Network, and Megan Dougherty, co-founder of One Stone Creative, indulge in a passion for all things in the Marvel Cinematic Universe by re-watching each movie and then podcasting on every movie in the MCU. If you want to indulge in your love for the MCU with two fans passionate about all things MCU, this is the podcast series for you. For this offering, we consider MCU Series -Antman and the Wasp.
Some of the highlights include:
Ø  The story synopsis.
Ø  What are the key plot points?
Ø  What were some of our favorite cookies?
Ø  How does this movie fit into the overall MCU?
Ø  How is this movie an homage to prior non-MCU movies?
**Next up in our series Avengers-Infinity War**

Categories
Daily Compliance News

May 28, 2022 the Market Manipulation Edition

In today’s edition of Daily Compliance News:

  • Glencore says its revamped its compliance program. (WSJ)
  • Apple supplier workers revolt against Chinese lockdown. (Bloomberg)
  • Twitter investors sue Musk over market manipulation. (Reuters)
  • New CCO individual liability? (Law360)
Categories
Corruption, Crime and Compliance

Episode 235 – Third-Party Risk Management


The global economy has suffered two significant shocks — first, the pandemic sent shockwaves through every organization, and second, the war in Ukraine. Both of these events exposed the importance of risk management, especially with regard to supply chain and distribution operations. Hence, the renewed focus on third-party risk management and the repetitive description of “holistic” third-party risk management. Reality forces change, and we are now experiencing significant adjustments to overall risk management procedures. At the top of every list has to be third-party risk management beyond legal and compliance risks — we have new disruptive risks that have to be identified, quantified, or ranked and then addressed.
Michael Volkov outlines the new reality and opportunities stemming from holistic third-party risk management in this episode.

Categories
Innovation in Compliance

Exiger’s Fight to Secure Supply Chains: Spotlight on Energy


Welcome to a podcast series on the fight to secure Supply Chains through cross-industry innovation. Exiger sponsors this series. In this series, we will explore the ongoing efforts of Exiger to lead the discussion and enhancement of Supply Chain Risk Management.
Over this series, I visit with Erika Peters, Senior Vice President and Global Head of Third Party & Supply Chain Risk Management;  Tim Stone, Senior Director, Supply Chain Risk Management for Exiger Federal Solutions; Kim Lee, Director who focuses on risk and compliance; Nick Wildgoose, a Consultant at Exiger; Skyler Chi, Director and Deputy Head of Supply Chain and Third-Party Risk Management;  Andrew Lehmann, Associate Director at Exiger; Jennifer Nestor, Vice President at Exiger, Americas and Public Sector; Theresa Campobasso, Senior Director for Defense Programs at Exiger; Dan Banes President of Commercial Technology, and Mark Henderson, Director of Solution Design Lead.
In this concluding episode 5, we discuss Supply Chain issues with Dan Banes and Mark Henderson in the energy sector. Highlights of this podcast include:

  • Key drivers for change within the energy industry around Third-Party and Supply Chain risk management
  • The impact of Russian sanctions on the energy industry; and
  • How ESG regulatory risk management has evolved within the energy industry.

Resources
Dan Banes Profile
Mark Henderson Profile
Exiger Website
Exiger’s Supply Chain Explorer

Categories
Presidential Leadership Lessons for the Business Executive

Presidential Leadership Lessons from Theodore Roosevelt, Part 3-Ascension to Presidency


Richard Lummis and Tom Fox continue their series on leadership lessons from Theodore Roosevelt. We looked at lessons from Roosevelt’s early years in New York up to his cowboying days in Montana; the second phase of his public career, from NYC Police Commission to Assistant Secretary of the Navy, San Juan Hill, and the Vice Presidency; his leadership from his Presidency; his life in the post-Presidency and the election of 1912 and we will end with leadership lessons from his post-Bull Moose Party life, World War I and event surrounding his death. In this third episode, we consider the leadership lessons learned by Roosevelt in his ascension to the Presidency and his first and second terms as 26th President.
Highlights of this podcast include:
Roosevelt’s ascension to the Presidency after the assassination of President McKinley; his domestic policies included: trust-busting, issues with railroads, starting the American conservation movement, and regulation of food and drugs. We then turn to foreign policy and his arbitration of the Russo-Japanese War, which won him the Nobel Prize, the Roosevelt Corollary to Monroe Doctrine, and the construction of the Panama Canal. We look at the clection of 1904 and his second term. We conclude with three key leadership lessons: 1. Surround yourself with other leaders; 2. Maintain an Open Channel with Adversaries; and 3. Be able to take criticism.
Resources
Doris Kearns Goodwin’s 10 Leadership Lessons from the White House
6 Leadership Hacks From The Rise of Theodore Roosevelt
10 top Leadership Principles of Teddy Roosevelt
The Roosevelts: Eight presidential lessons in Leadership
Lessons in Leadership from 100 years ago
Theodore Roosevelt on Leadership
10 Theodore Roosevelt Leadership Lessons

Categories
Daily Compliance News

May 27, 2022 the Don’t Be Evil-Part II Edition

In today’s edition of Daily Compliance News:

  • EY looks at splitting its services into 2 companies. (WSJ)
  • Ex-world leaders call for an investigation into Putin’s corruption. (WaPo)
  • Pigs really don’t fly. (NYT)
  • The UK launches a second probe into Google. (Reuters)
Categories
Blog

Exiger’s Fight to Secure Supply Chains: Spotlight on Energy

Welcome to a blog post series on Exiger’s fight to secure supply chains, sponsored by Exiger LLC. In this series, we have explored the ongoing efforts of Exiger to lead the discussion and enhancement of Supply Chain Risk Management. In our concluding episode 5, I visit with Dan Banes, President of Commercial Technology, and Mark Henderson, Director of Solution Design Lead, and discuss supply chain issues in the energy sector.
Energy is one of the high-profile natures of the energy business, with long-standing business relationships, literally around the globe. Due to this high-profile nature, anytime there is a cyber-breach, it garners much attention. To see this play out, one only has to look at the Colonial Pipeline hack. This profile means that the whole world is watching the energy and the energy ecosystem.
We discussed some of the key drivers for change within the energy industry around third-party and supply chain risk management. Banes believes there are a couple of key trends in energy around supply chain risk management. The first is transparency (or perhaps lack of transparency) and the fact that many energy companies only have visibility into the first layer of their supply chain. This could be in the company they purchase their hardware from or the software products they install. He believes energy companies need to go down into those next layers to understand the additional suppliers that feed into those pieces of hardware or software.
The second area we reviewed is the monitoring of cybersecurity risk. Henderson said typically, and the approach has focused on “things like questionnaires and attestations that companies sign that say that they have a robust cybersecurity program.” He said, “now data is available for companies to do their homework themselves. This allows companies to understand the different companies within their supply chain and have transparency of the third parties you deal with directly and those suppliers down the chain. It allows a company to be alerted to a vulnerability and then quickly mitigate before a cyber security breach or attack happens.”
He believes companies will have to continue to push down responsibilities to that wider supply chain ecosystem. Companies are starting with their highly critical supply chain partnerships and ecosystem vendors. This has led to a “quite a collective dialogue, which is beneficial for the industry. If you go back to the point, we made earlier, one successfully compromised entity can have a ripple effect across the supply chain. It is better equipped for a successful defense if the industry can move their standards and best practices forward together.”
We then turned specifically to Russia sanctions. Here Henderson returned to transparency; companies need to understand the networks of parties they are dealing with. But it is more than simply understanding the company; and it also understands the owners of that company, the ultimate beneficiary, the key management personnel, so you can make sure that none of the individuals associated with the company are sanctioned individuals or on a Specially Designated National (SDN) list. This level of transparency and screening should be maintained on an ongoing basis to ensure that you stay up to date with all new sanctions. This is a fast-paced environment and ensuring that you have controls in place and the transparency in the companies you deal with is very important. The second component is ensuring you have proper supply channels. Russia and Russian companies are large exporters of energy products. This will impact the supply chain for several energy companies and has already caused supply shortages in many cases.
We concluded by looking at Environmental, Social, and Governance (ESG) and how ESG regulatory risk management has evolved within the energy industry. While most compliance and supply chain professionals understand that the ‘E’ has traditionally been the most letter within the ESG acronym, the ‘S’ within ESG, the social issues, is rapidly becoming as important a focus area as the ‘E’ has traditionally been. Banes noted a “huge commercial incentive for companies to move forward in this space; appropriately and effectively.” It could be based on legislation, such as the UK Modern Slavery Act or its German equivalent, but it could also be pressure from key stakeholders such as customers or employees. He noted this “will require companies to identify, assess, prevent, and remedy human rights, risks, and impacts across their supply chains.”
The recently proposed Securities and Exchange Commission (SEC) rules on reporting material climate change risk point to many concepts we touched on herein. Henderson noted that initially, these proposed rules were “meaningful accountability.” But Scope 3 adds “the transparency component as you are also moving down the supply chain and leading to perhaps commercial opportunities that were not present before because of collaboration.” Banes noted, “it does come with an opportunity to have a more meaningful relationship across your supply chain and find those efficiencies even that we were discussing across the control environment but finding those efficiencies when it comes to environmental risk and emissions. To obtain the data required for Scope 3 requires that partnership and the industry come together to find those efficiencies within the supply chain.”
Resources
Dan Banes Profile
Mark Henderson Profile
Exiger Website
Exiger’s Supply Chain Explorer

Categories
Blog

Will I Come Home From School Alive?

Starting today, every schoolchild in Texas will have to ask “Mom, will I come home from school alive today?” Every child whose parent is a schoolteacher will have to ask “Mom, will you come home alive today?” In all my years of primary and secondary school, I never had to say these things, let alone even think them. Now because of the policies and continued inaction of the government of the state of Texas, we have to do so.

Uvalde is 60 miles from my hometown of Kerrville. It is the county seat of the next county over from Kerr County. My parents were teachers, my mother taught elementary school for 30 years and my father was a professor for 25 years. So, this one hits very close to home, literally.

Monday saw one of the worst massacres ever of a schoolhouse. 21 total dead, including 19 children under the age of 10, were killed at the Robb Elementary School in Uvalde. Why were they murdered? We will never know the answer to that question. What we do know is that the perpetrator, Salvador Ramos, who turned 18 on May 16, bought not one but two AR-15 rifles and over 350 rounds of ammunition the day after his birthday. He shot his grandmother, posted on Facebook about it and then went out hunting.

What has been the response of Texas government officials? It starts with a prayer for the dead. Government Abbott says Texas is praying for you. I suppose he is also praying for no more school massacres under his gubernatorial watch but since that did not work for the Santa Fe High School in 2018, in which eight students and two teachers were killed, I doubt its effectiveness. Of course, his similar prayers did not work after the church massacres where 26 parishioners were massacred in the First Baptist Church in Sutherland Springs Texas in 2017. Nor did his prayers work after the shopping massacre in El Paso in 2019 where 23 people were killed and 26 more were injured when Patrick Crusius, a 21-year-old from Allen, Texas, allegedly opened fire with an AK-47-style assault weapon at the Walmart located near the Cielo Vista Mall on the east side of El Paso.

I guess attending school is now added to the list of going to church and shopping as things that can get you killed in Texas.

What has Governor Abbott done substantively after all of these massacres? Nothing, zero, zilch, nada; as in a big fat goose egg. His Democratic rival, Beto O’Rourke confronted Abbott at a Press Conference saying,“You are doing nothing. You are offering up nothing. You said this was not predictable. This was totally predictable when you choose not to do anything.” As O’Rourke was being escorted out of the Press Conference, he turned and confronted Abbott with ““This is on you until you choose to do something different,” O’Rourke said. “This will continue to happen. Somebody needs to stand up for the children of this state or they will be continue to be killed just like they were killed in Uvalde yesterday.””

What Abbot has said consistently is that it is not the fault of the gun manufacturers but that we need to better with the “mental health” of Texans. What Abbot has done about mental health in Texas? As reported by NBC News, “in April he slashed $211 million from the department that oversees mental health programs.” How bad is mental health care in Texas? “Texas ranked last out of all 50 states and the District of Columbia for overall access to mental health care, according to the 2021 State of Mental Health in America report.” Does that sound like someone who actually cares about the ‘mental health’ of Texans?

What else did Abbott do after the Uvalde massacre? Attended a fund-raiser. I guess raising money for a political campaign is more important than the mental health of Texans.

As for the idiotic Lt. Governor of Texas, the Honorable Dan Patrick, his response is best summed up by the attitude that the only thing that stops a bad guys with a gun is a good guy with a gun. Unfortunately, it does not work that way. Not only had the Uvalde School District substantially increased its security budget after the Santa Fe massacre, there were good guys with guns at the elementary school. The Houston Chronicle reported “that the school security officer outside was armed and that initial reports said he and Ramos exchanged gunfire.” Moreover, as “Ramos entered the school, two Uvalde police officers exchanged fire with him, and were wounded, according to Olivarez. Ramos went into a classroom and began to kill.”

The buffon Texas Attorney General, Ken Paxton, went in a different direction, saying there should only be one point of ingress into a school. Paxton has sadly forgotten the purpose of doors in schools, they are not only there to let students in; more importantly doors exist to let students out. Over 100 years ago, some 115 women burned to death at the Triangle Fire in NYC because the doors were locked shut to keep the workers safe. Can you imagine what would happen if there was a fire at an elementary school and all the doors except one were locked shut?

What does all this mean for Texas? It means that as the state with “more guns per capita than any other state,” Texas is “awash in weapons.” Lori Post, director of the Buehler Center for Health Policy and Economics at the Northwestern University School of Medicine, was quoted in the NBC News article stating, “After the tragic 2019 mass shooting in El Paso, the governor signed several bills to curb mass shootings; unfortunately, most of those bills involved arming the public to stop mass shooters.”

About the only thing you can say with certainty about Governor Abbott is that he is Keynoting the National Rifle Association (NRA) Convention in Houston this weekend.