In today’s show, Amy Kadomatsu joins host Tom Fox to share how her company makes compliance simple for their clients. Amy is the Chief Operating Officer at ComplySci, a provider of regulatory technology for financial and professional services companies. ComplySci helps its 1200 clients in 51 countries monitor and manage employee risk, by leveraging technology to transform their day to day operations with digital compliance.
360° Employee Risk Management
Tom asks Amy, should a COO think about using a solution like ComplySci? And how it would help them integrate compliance into the business, but also satisfy the articulated requirements from the Department of Justice. Amy responds that it’s imperative to understand the needs of the business and try to engage end users into a culture of compliance. As the COO, you should also think about what you need to monitor and manage within employee risk. She describes how ComplySci’s multithreaded solution provides a 360° view of end users to help the company stay within the Department of Justice regulations.
Measuring and Maintaining a Culture of Compliance
Compliance and HR need to work together to establish a culture of compliance. Some ways to measure the effectiveness of their efforts are:
Employees need to understand the reasons why compliance measures are taken, and the company needs to make it easy for employees to comply. This is why ComplySci focused on a mobile implementation: they want to provide simple and accessible tools to make compliance easy for everyone.
How ComplySci Makes Compliance Simple
Many companies have compliance processes in place. Much of what ComplySci does is bring these processes to life, making them faster and more streamlined. Their compliance solution offers a robust dashboard and reporting system, which comes preloaded with many compliance rules. All the compliance officer has to do is modify the exceptions. If someone is trying to pre-clear a trade, for example, and something does not comply with a particular rule, the compliance officer can get a notification. Users, including the Board of Directors, can create customized reports and export them into Excel or another graphics program, effectively translating data into usable information.
ComplySci Summit
The ComplySci Summit 2019 takes place on September 9 in New York. The keynote speaker is former US Attorney Preet Bharara. An all-star COO panel will discuss topics such as the culture of compliance and innovation in compliance. They will also talk about how the needs of the COO have changed over the last decade and how to use technology to meet modern demands.
Resources
ComplySci.com
Welcome to the Science of Star Trek, a podcast series inspired by my review of Star Trek, the Original Series in the summer podcast special series Trekking Through Compliance.In this series I am joined by Astrophysicist and Healthcare Futurist Ben Locwin. In this podcast we consider the TOS episode Tomorrow is Yesterday as a starting point for the consideration of the science around black holes, white holes, and wormholes.
In this episode, USS Enterprise is thrown back in time to Earth during the 1960s by the effects of a high-gravity “black star”. The Enterprise ends up in Earth’s upper atmosphere and is picked up as a UFO on military radar. Spock and Chief Engineer Scott inform Kirk of a possible escape method by slingshotting around the Sun to break away and return to their time. The maneuver is risky, since even a small miscalculation could destroy the ship, or make them miss their own era. Kirk okays the maneuver, and time on board the Enterprise moves backwards. The Enterprise is then successfully returned to the 23rd century.
Highlights include:
Where does creativity fit into compliance? In more places than you think. Problem-solving, accountability, communication, and connection – they all take creativity. Join Tom Fox and Ronnie Feldman on Creativity and Compliance, part of the Compliance Podcast Network. In this show, we’ll be exploring how creativity affects the world of compliance – the ways we use it, and the surprising impacts it can have on the work we do every day. From ethics to leadership, problem-solving to training – creativity permeates what we do as compliance professionals. In this podcast we discuss Ronnie thoughts on don’t just train…advertise. Highlights include:
Resources:
Ronnie Feldman (LinkedIn)
Learnings & Entertainments (LinkedIn)
Ronnie Feldman (Twitter)
Learnings & Entertainments (Website)
60-Second Communication & Awareness Shorts – A variety of short, customizable, quick-hitter “commercials” including songs & jingles, video shorts, newsletter graphics & Gifs, and more. Promote integrity, compliance, the Code, the helpline and the E&C team as helpful advisors and coaches.
Workplace Tonight Show! Micro-learning – a library of 1-10-minute trainings and communications wrapped in the style of a late-night variety show, that explains corporate risk topics and why employees should care.
Custom Live & Digital Programing – We’ll develop programming that fits your culture and balances the seriousness of the subject matter with a more engaging delivery.
See also, Ronnie’s article on CCI, When it Comes to Ethics & Compliance, Don’t Just Train… Advertise!
