Categories
Innovation in Compliance

Building a Stronger Culture of Compliance Through Targeted and Effective Training: Part 2- The Value of Targeted Training

Welcome to a special 5 part podcast series on building a stronger culture of compliance through targeted and effective training, sponsored by Diligent. Over this series, I will visit with Kunal Agrawal, Director of Customer Success at Diligent; Kevin McCoy, Customer Success Manager at Diligent; Jessica Czeczuga, Director, Compliance and Ethics at Diligent; Andrew Rincón, Client Director at Diligent; and David Greenberg, former CEO and Special Advisor at LRN and Director at International Seaways. Over this series, we will consider the importance of ongoing communications, the value of targeted training, training third parties, and the role of the Board of Directors. In this Part 2, we consider the importance of targeted training Kevin McCoy.

In this episode, Tom sits down with Kevin McCoy, a customer success manager at Diligent, to talk about the importance of targeted training in compliance. They dive into the importance of engaging employees through microlearning and Diligent’s unique use of cartoon-animated videos to make the content accessible to different audiences. They also discuss the significance of translating the training into different languages and tailoring it to specific risk areas for different teams. The podcast emphasizes that training leadership and the board in compliance is crucial, and they touch on risk-based training for individuals with a significant impact on the company’s financials. This episode is a must-listen if you want to discover the best strategies for planning and analyzing training to achieve desired outcomes and where to find more information about Diligent training solutions. Join them for the next episode on training effectiveness and improving compliance today.

Key Highlights:

  • Targeted Training in Compliance & Ethics
  • Effective and Targeted Training Translation
  • Training and Leadership in High-Risk Industries
  • Effective Training Planning and Execution

Notable Quotes

“It’s very important then to have your content translated into different languages.”

“There’s a lot of progress has been made over the years with machine translation and also AI is getting very popular, but we still use human-based translators.”

“But within the board or within leadership within the company, he was almost untouchable. It was like he built up fear in the organization, and people were actually afraid to ask questions.”

“The really important thing is to have versatile different types of training.”

For more information, go to Diligent.com.

Join us in our next episode, where we define the effectiveness of compliance training.

Categories
31 Days to More Effective Compliance Programs

What Leads to a Successful Board Investigation?

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.

  • Consider whether you need independent outside counsel.
  • Consider hiring an experienced investigator to lead the internal investigation.
  • Consider the need to retain outside experts.
  • Analyze potential conflicts of interest at the outset and during the investigation.
  • Carefully evaluate whistleblower allegations.
  • Request regular updates from outside counsel, without limiting the investigation.
  • Consider whether an oral report at the conclusion of the investigation is sufficient.

The authors conclude their piece by stating, “By keeping in mind the issues addressed above, the Board will be better prepared for the investigation and readily able to exercise good judgment throughout the review. A well-conducted investigation by the Board may spare the company further disruption and costs associated with follow-on investigations by the regulators, or at the very least minimize the company’s exposure.”

Three key takeaways:

  1. Retain the right counsel. Consider conflicts and appearance.
  2. Carefully evaluate all whistleblower allegations and reject retaliation.
  3. Consider receiving oral reports on an ongoing basis and one lengthy oral report at the end of the investigation.

For more information, check out The Compliance Handbook, 4th edition, available here.

Categories
Innovation in Compliance

Building a Stronger Culture of Compliance Through Targeted and Effective Training: Part 1 – The Importance of Ongoing Communications

Get ready to learn about Building a Stronger Culture of Compliance Through Targeted and Effective in a 5 part podcast post series on building a stronger culture of compliance through targeted and effective training, sponsored by Diligent. Over this series, I will visit with Kunal Agrawal, Director of Customer Success at Diligent; Kevin McCoy, Customer Success Manager at Diligent; Jessica Czeczuga, Director, Compliance and Ethics at Diligent; Andrew Rincón, Client Director at Diligent; and David Greenberg, former CEO and Special Advisor at LRN and Director at International Seaways. Over this series, we will consider the importance of ongoing communications, the value of targeted training, training third parties, and the role of the Board of Directors. In this Part 1, we consider the importance of ongoing communications with Kunal Agrawal.

In this episode, Tom Fox visits Kunal Agrawal, the Director of Customer Success at Diligent, about the importance of ongoing communications. Kunal shares his extensive background in technology and customer success and explains how his team helps customers with their day-to-day challenges. The podcast focuses on the significance of ongoing communication in compliance, and Kunal stresses the importance of maintaining a consistent cadence in communication to keep the momentum going. The podcast speakers discuss the use of humor in communication and how it differs based on cultural differences. They also emphasize the importance of understanding guidelines to prevent the compromise of sensitive information. This podcast is packed with valuable insights that will help you improve compliance in your organization. To listen to the full episode, head over to diligent.com!

Key Highlights:

  • The importance of communication cadence in compliance
  • Importance of Communication Cadence
  • Effective Communications for Compliance Professionals
  • Compliance with Sensitive Information

Notable Quotes:

“But you take a little bit different approach, and you help clients think about the ongoing part of ongoing communications. And frankly, I’ve never met anyone who talked about that approach.”

“I think having a certain workflow and, as you said, a cadence is equally important. The number one priority is your annual trainings, which is extremely important, and you need to do it.”

“If there is a pattern to a cadence, then people know what to expect and when.”

“If something goes wrong and if any single person in the organization doesn’t understand the guidelines, and in the processes around this, it can reveal compensation data or even health care data and compromise so much information in the world, which can land into hands of the people you don’t want them to get access to.”

For more information go to Diligent.com.

Join us in our next episode where we consider the value of targeted training.

Categories
Uncovering Hidden Risks

Ep 8 – Three Steps to Master Information Governance in Your Organization

Randolph Kahn, a globally recognized leader in information governance and President of Khan Consulting, joins Erica and guest host Natalie Noonan on this week’s episode of Uncovering Hidden Risks. Randolph has been an expert witness in significant court cases and is a trusted advisor to corporations and governmental agencies. He is also an accomplished author, speaker, and adjunct professor of Law and Policy of Electronic Information and The Politics of Information. Randolph and Erica discuss Information Governance and the industry trends they are currently seeing in this space.

In This Episode You Will Learn:

  • How the increase in regulations affects current data management trends
  • Why organizations are suffering information mismanagement failures
  •  If current technology capabilities and functionality are sufficient

Some Questions We Ask:

  • What requirements are important for information governance?
  • Why should organizations take advantage of newer technologies?
  • What’s next after an organization has clearly identified its new requirements?

Resources:

View Randolph Kahn on LinkedIn

View Natalie Noonan on LinkedIn

View Erica Toelle on LinkedIn

Categories
Blog

Building a Stronger Culture of Compliance Through Targeted and Effective Training: Part 1- The Importance of Ongoing Communications

Welcome to a special 5 part blog post series on building a stronger culture of compliance through targeted and effective training, sponsored by Diligent. Over this series I will visit with Kunal Agrawal, Director of Customer Success at Diligent; Kevin McCoy, Customer Success Manager at Diligent; Jessica Czeczuga, a Principal Instructional Designer; Andrew Rincon, Global Accounts Management Advisor at Diligent; and David Greenberg, former CEO and Special Advisor at LRN and Director at International Seaways. Over this series, we will consider the importance of ongoing communications, the value of targeted training, training third-parties, and the role of the Board of Directors. In this Part 1, we consider the importance of ongoing communications with Kunal Agrawal.

Compliance professionals are often tasked with the challenge of keeping employees up-to-date with changing rules and regulations while also fostering a culture of accountability. To achieve this, it is essential to develop targeted ongoing communication strategies that resonate with diverse audiences and drive compliance. Through regular cadence of communication, utilizing various mediums, and taking into account cultural nuances, you can ensure that your organization stays ahead of compliance risks and fosters a culture of trust and integrity. Here are the steps to get improved compliance through effective ongoing communication.:

1. Establish a regular cadence for communications
2. Develop customized messages for diverse audiences
3. Utilize various communication mediums effectively

1. Establish a regular cadence for communications. Establishing a regular cadence for communications is a crucial step in achieving effective ongoing communication in compliance. With the ever-increasing complexity of regulations, compliance professionals need to ensure that employees are kept up-to-date on new developments and requirements. A predictable pattern and schedule for communications can help to instill the habit of ongoing communication among employees and stakeholders, ensuring that they are well-informed and prepared to adhere to necessary guidelines. This regularity allows audiences to anticipate and expect updates, making it more likely that they will engage in and retain the information being shared. By maintaining a consistent schedule, compliance professionals can create a conducive environment for the organization to thrive in terms of meeting regulatory guidelines and staying compliant with the latest rules and developments.

Agrawal emphasized the need to maintain regular ongoing communication, as this allows organizations to address the constantly evolving landscape of technology, data privacy, healthcare regulations, and trading compliance challenges. He suggested maintaining a consistent pattern for communications, such as sticking to a set schedule, to create a pattern and habit for employees to follow. Agrawal also acknowledged the importance of customizing these communications across different mediums and using visual aids when appropriate to cater to the needs of different geographical locations, diverse employee profiles, and varied cultural backgrounds. It is essential to establish a regular cadence for communications, as this fosters a culture of compliance and increases employees’ understanding of the guidelines, expectations, and best practices relating to their roles.

2. Develop customized messages for diverse audiences. Ongoing communication in compliance is essential for fostering a strong culture of adherence to regulatory guidelines and instilling the habit of continual learning among employees and stakeholders. With the ever-changing landscape of regulations in various sectors, it becomes increasingly important for compliance professionals to create well-formulated communication strategies that cater to the diverse needs of their audience. One crucial aspect of these strategies is developing customized messages that cater to the unique cultural nuances, roles, and learning preferences of the different members of the organization. By personalizing the content, compliance professionals can ensure that the information is more relevant, engaging and impactful, resulting in more effective communication and, ultimately, better compliance outcomes.

Agrawal focused on the importance of tailoring compliance communications to the specific needs and cultural contexts of diverse audiences. He noted that the ever-evolving nature of technology, data privacy, healthcare regulations, and trading compliance demands that compliance professionals consistently create and deliver content that truly resonates with their audiences. Agrawal highlighted the need to validate internal content with local audiences to guarantee the appropriateness and relevance of the materials.

3. Utilize various communication mediums effectively.  Utilizing various communication mediums effectively is a crucial step in creating an ongoing communication strategy for compliance professionals. With the rapidly changing landscape of regulations, particularly in industries such as technology, data privacy, and healthcare, it is essential to ensure that employees and stakeholders are aware of the latest requirements and guidelines. To achieve this, compliance professionals must adopt a diverse range of communication channels that cater to different audiences, geographical locations, and cultural sensitivities. This includes not only relying on traditional methods such as emails and newsletters, but also embracing newer technologies and platforms, such as instant messaging apps, internal document repositories, and video conferencing tools. By doing so, the compliance professionals can ensure that relevant and timely information is disseminated effectively and efficiently, thereby promoting a culture of compliance and reducing the risk of non-compliance.

Agrawal elaborated on the importance of identifying the right communication mediums to deliver compliance messages effectively. Promoting a culture of continuous communication, Agrawal stressed the need to maintain a regular cadence for communications to create a predictable pattern and habit. This enables the target audience to anticipate and be more receptive to the information shared. Agrawal emphasized the significance of tailoring communication to cultural nuances and appropriateness, particularly with regard to humor. He recommended validating content with a local audience, ensuring that humor is presented effectively and does not alienate or offend the intended recipients.

For compliance professionals striving to maintain a seamless flow of crucial regulatory information, a strategic and robust communication plan cannot be undermined. From our discussion with Kunal Agrawal, we distilled the essence of achieving improved compliance communications. Through regularly engaging with stakeholders in a tailored manner, leveraging multiple communication mediums, and staying attuned to feedback and cultural nuances, compliance officers can ensure that their messaging is accurate, relevant, and impactful. We encourage you to take these invaluable insights to heart, and empower yourself to craft and refine communication strategies that will drive your organization towards compliance excellence.

For more information go to http://diligent.com/compliancetraining.

Join us tomorrow where we consider the value of targeted training.

Categories
Blog

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.

Categories
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
Categories
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)
Categories
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

Categories
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