Everything rises and falls with leadership. Especially because of recent events, if you want yourself and your team to come out of this in a positive way, you have to S.E.E. clearly. If you’re wondering how to do that, I can help.
Today’s episode is quick and straight to the point. To understand the next right action you need to take as a leader, check out the tip in today’s episode!
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Welcome to the newest addition to the Compliance Podcast Network, Compliance and Coronavirus. In this episode, I am joined by Ray Dookhie is a managing director at K2 Intelligence FIN, with more than 25 years of experience in compliance, integrity risk monitoring and management, and investigations. His experience spans industries, with specific focus on financial services, life sciences, and real estate and construction. Prior to K2 Intelligence FIN, he worked for KPMG for over 20 years, most recently as a senior director with KPMG’s forensic services practice. Earlier in his career, Ray was a fraud investigator with the New York County District Attorney’s Office and the New York City Department of Investigation. He is a certified public accountant.
In this episode, we consider some of the challenges for compliance professionals in the current environment around fraud and risk management; what are some of the more holistic / programmatic things that compliance professionals can do to overcome some of these challenges at this point in time and conclude with what are some of the more tactical things that compliance professionals can do to overcome some of these challenges.
For more information on K2 Intelligence FIN, check out there website, here.
Welcome to the only roundtable podcast in compliance. Today, we have a serving of Jonathan Armstrong, Jay Rosen, Matt Kelly, and our newest panelist Jonathan Marks with a veritable potpourri of topics and issues. Rants and shouts outs (with commentary) conclude this episode.
- Jonathan Armstrong celebrates the anniversary of GDPR by looking back over the past year at some of the key decisions and enforcement actions.
- Jay Rosen takes a look at a rare release of a monitor’s report, in the Wynn Casino monitorship and data mines it for the compliance professional.
- Matt Kelly considers the difference in response by Facebook v. Twitter in the incendiary and racist tweets by Donald Trump.
- Jonathan Marks looks at the DOJ’s 2020 Update to the 2019 Evaluation of Corporate Compliance Programs.
- Tom Fox talks about how fighting racism and white supremacy is the responsibility of everyone. It is based on piece by Ben DiPietro here.
The members of the Everything Compliance are:
- Jay Rosen– Jay is Vice President, Business Development Corporate Monitoring at Affiliated Monitors. Rosen can be reached at JRosen@affiliatedmonitors.com
- Mike Volkov – One of the top FCPA commentators and practitioners around and the Chief Executive Officer of The Volkov Law Group, LLC. Volkov can be reached at mvolkov@volkovlawgroup.com
- 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 armstrong@corderycompliance.com
- Jonathan Marks is Partner, Firm Practice Leader – Global Forensic, Compliance & Integrity Services at Baker Tilly. Marks can be reached at marks@bakertilly.com
The host and producer (and sometime panelist) of Everything Compliance is Tom Fox the Compliance Evangelist. Everything Compliance is a part of the Compliance Podcast Network. He can be reached at tfox@tfoxlaw.com
In today’s edition of Daily Compliance News:
- Two RoboCallers hit with proposed $225MM fine? (Houston Chronicle)
- Retired judge skewers DOJ for Flynn switch. (WSJ)
- FinTechs helping small businesses. (NYT)
- What will Bubba do? (ESPN)
Welcome to the newest addition to the Compliance Podcast Network, Compliance and Coronavirus. In this episode, I am joined by Sepideh Rowland, Vice President at K2 Intelligence FIN and head of managed services. She has over 20 years of regulatory compliance experience, including leadership positions at money services businesses, large financial institutions, and community banks. She is also Co-Chair of the U.S. Capital Chapter Advisory Board for ACAMS; as Co-Chair of the Advisory Board for the ABA/ABA Financial Crimes Enforcement Conference; and as an Advisory Board Member (former Chair) for the American Bankers Association Certified AML and Fraud Professional certification program.
In this episode, we consider the impact of the Payroll Protection Program on a bank’s Financial Crime Compliance Program; how has COVID-19 and PPP has impacted money laundering and fraud typologies; and conclude with how should banks think about their staffing models and resources.
In this podcast, I visit with Vin DiCianni, founder of Affiliated Monitors, Inc. In it, we explore corporation culture and its relationship to ethics and compliance. We began with senior leadership. A company does not have an ethical culture unless the top management commits to it going forward. Employees not only listen to what they say but they watch how they act. Employees look for signals about what really counts in an organization. But you must then move down to implementation of this goal. Employees want to know if senior leadership is committed to the company’s core values. But equally important is a sense of organizational justice and fairness. Employees want to not only see they will be treated fairly but there is not a delineation of favorites and non-favorites in an organization. DiCianni emphasized that it is the senior leadership who really drives the alignment between incentives and performance.
The key is that there be an alignment between what top management says, coupled with the company’s core values and what the organization says together with what they do. This all comes from senior management getting out of their office and talking to employees in the field to see not only what they think but how they feel. No company aspires to be unethical and most assuredly employees do not want to engage in unethical behavior but if senior management does not talk to employees they will not know how their messages are being received. It does not take long when there is a disconnect between what senior management says and what the employees take away. It is a bit disconcerting how little top management really understand their employees. Because of this, senior leaders do not know what messages they are receiving, both verbal and non-verbal.
Under Part 1, Section D. Confidential Reporting Structure and Investigation Process, it stated in part, Properly Scoped Investigation by Qualified Personnel –What steps does the company take to ensure investigations are independent, objective, appropriately conducted, and properly documented? Your company should have a detailed written procedure for handling any complaint or allegation of bribery or corruption, regardless of the means through which it is communicated. The mechanism could include the internal company hotline, anonymous tips, or a report directly from the business unit involved.
You can make the decision on whether or not to investigate with consultation with other groups such as the Compliance Committee of the Board of Directors or the Legal Department. The head of the business unit in which the claim arose may also be notified that an allegation has been made and that the Compliance Department will be handling the matter on a go-forward basis. Through the use of such a detailed written procedure, you can work to ensure there is complete transparency on the rights and obligations of all parties once an allegation is made. This allows compliance to have not only the flexibility but also the responsibility to deal with such matters, from which it can best assess and then decide on how to manage the matter.
Three key takeaways:
- A written protocol, created before an investigation, is a key starting point.
- Create specific steps to follow so there will be full transparency and documentation going forward.
- Consistency in approach is critical.
Categories
Ham-fisted Leadership
Compliance into the Weeds is the only weekly podcast which takes a deep dive into a compliance related topic, literally going into the weeds to more fully explore a subject. In this episode Matt Kelly and Tom Fox take a look at two examples of ham-fisted leadership; one by Facebook CEO Mark Zuckerberg and the second by NFL Commissioner Roger Goodell. Both also had to respond to employee near revolts over their poor leadership. For Zuckerberg it was his refusal to stop President Trump’s incendiary and race-bait tweeting. For Goodell, it was lack of acknowledge of the racist murder of George Floyd.
Resources
See Matt Kelly blog post, Two Tales of Ham-Fisted Leadership
In this podcast with Jerry Coyne, the Managing Director of State Monitoring Services at Affiliated Monitors, Inc. and we consider the role of state AGs as enforcers of civil law and in bringing litigation to enforce consumer protect and related statutes.Every US state and territory has an AG, whose role is to serve as the chief legal advisor for that state. State AGs are empowered to prosecute violations of state law, represent the state and its employees when sued, and usually to provide legal advice to state agencies and to the state legislature. But its most important and most challenging role may be the right to bring litigation – to file suit – in the name of the state. Due to the massive amounts of money flowing to the states, most states took on this responsibility by adding staff not just to their AGs, but to other agencies with tobacco enforcement responsibilities, such as taxation and revenue departments, and state police organizations. The entry of the MSA in 1998 brought unprecedented amounts of new revenue to the states, but also resulted in the states agreeing to take on the responsibility for new and unprecedented enforcement activities to enforce the settlement’s terms, lest the anticipated flow of monies be reduced or even eliminated.
