In today’s edition of Daily Compliance News:
- Will Brazil move past its corrupt administration? (FT)
- What if you ID audit partners? (WSJ)
- US Bank pays $4MM to settle sanctions allegations. (WSJ)
- Good work if you can get it. (Washington Post)
Author: admin
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 have a special quest, Angelique Lee-Rowley, CCO of GW Pharmaceuticals who visits with on the use some of the creative programming the company have rolled out this past year.
Some of the highlights include:
- What drew Lee-Rowley to the project?
- What were some of her hesitancies about utilizing a comedic approach?
- It’s not about the funny, it’s about being interesting and provocative
- It’s about being empathetic and on the side of employees
- It’s about being provocative so they don’t just snooze their way through training
- I’m not a fan of scare tactics.
- How has the company utilized the programming thus far?
- Live training
- E-Learning
- Paired with other training
- Commercials
- How has the programming been received and how has it helped your compliance efforts?
- What were some of the reactions from the employees?
- What are some of the lessons have you learned?
- Don’t be afraid to try new things
- Don’t be too precious about finding the perfect solution. Engage employees with variety and surprise…keep people on their toes.
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, How Corporations Can Use Comedy and Creativity to Enhance Risk Training
Vince Walden was the first person I interviewed for my Innovation in Compliance podcast back in March 2018. That first episode drew nearly 5000 listeners. We were clearly onto something. It took a while but I finally convinced Vince that he needed his own podcast so with no small amount of pride of ideaship, I want to introduce The Walden Pond as the latest offering on the Compliance Podcast Network. Walden has been in the forensic technology compliance and investigation field for over 2 decades, and in the Walden Pond, he is going to be exploring practical, timely and relevant information by talking to other experts in the field. Henry David Thoreau’s focus reflecting upon simple living in natural surroundings. Our world isn’t as simple as Thoreau’s Walden Pond and so in this Walden Pond, we’ll be looking at business, technology and compliance trends that are complex – but necessary for doing business. The host anti-fraud expert Vince Walden is talking to experts about the technology and compliance trends you need to know about to keep your compliance and fraud detection programs relevant. If you’re looking for insights that are practical, timely and innovative… Welcome to The Walden Pond.
Episode 1 – Welcome to The Walden Pond.
In this introductory episode, host and anti-fraud expert Vince Walden talks about why he created a podcast dealing with the technology and compliance trends you need to know about to keep your compliance and fraud detection programs relevant. If you’re looking for insights that are practical, timely and innovative… Welcome to the Pond.
Episode 2 – Control When You Get Paid with Jason Lee
In this episode, host Vincent Walden talks with Jason Lee, CEO of DailyPay, a technology solution that lets employees control when they get paid. Fortune 500 companies like Kroger, Berkshire Hathaway, Adecco Staffing and McDonald’s are DailyPay clients. Jason stresses that the daily pay industry and the payday loan industry are completely different. Whereas payday loans give loans to employees which they need to pay back with interest, DailyPay makes employees’ own wages available to them, just like payroll.
The business model is simple. When you work, your employer reports your hours to DailyPay via their software. Your hours are converted into an available balance which you can access whenever you want prior to payday. Whatever you take upfront gets netted out of your paycheck on payday. There is no cost to your employer, but you pay a one-time transfer fee whenever you request a payment.
Making their wages available to employees when they need it helps to reduce cash shrinkage to almost zero. Jason has also found that time clock compliance shoots up when companies implement DailyPay.
Episode 3 – Automating e-Discovery with Anil Kona
Legal litigation management represents a multibillion-dollar cost for law firms and corporations. It is a labor-intensive process requiring multiple software applications. Vertical Discovery provides a complete end-to-end workflow automation solution to this problem, powered by artificial intelligence and machine learning. Their software solution, Optimum, was developed by a collaborative team of forensic professionals, e-discovery subject matter experts, legal professionals, and product development specialists from Microsoft. CEO Anil Kona speaks with host Vincent Walden about how Optimum can help law firms and corporations reduce cost and increase productivity.
Optimum allows you to manage your litigation matters from a single dashboard. You are able to choose best-in-breed applications for each aspect of litigation management – including HR, asset management and EDRM (Electronic Discovery Reference Model) – and Optimum integrates these tools so that they all speak to each other. In addition, Optimum is template-driven. Once you define the type of litigation matter, it automatically shows you the steps to take to meet requirements. This makes litigation consistent and repeatable across cases. You will also see ROI savings in the form of productivity increases of 55 to 60%, manual error reduction of 96 to 98%, and being able to predict the outcome of your case.
CONVERGE is in its 4th year of bringing together the world’s leading companies for 2 days of dynamic speakers, thought-provoking breakout sessions, and opportunities to connect with like-minded professionals. You will leave the conference with new resources and best practices allowing you to continue the hard work of driving ethics to the center of your business. In today’s episode I visit with Matt Kelly, founder and editor of Radical Compliance (and the coolest guy in compliance). We visit about his talk at Converge19 on Developing Effective Strategies for Third Parties & Data Security Risk.
Most compliance functions are on the low end of the maturity curve when it comes to effective data security when it comes to third parties. Participants in this session will explore recent regulatory enforcement of data security risks related to third parties, and what regulators are saying about the issue generally; how this is a challenge of risk assessment and data management capabilities, what a ‘mature’ compliance or audit function would need to do for these risks; and some practical ideas to implement at your own business.
For more information on Converge19, click here.
For more information on Radical Compliance, click here.
In today’s edition of Daily Compliance News:
- White House fires Homeland Security Deputy GC. (NYT)
- Netherlands proposes nationwide AML system. (Dipping Through Geometries)
- Did unprepared pilots contribute to 737 MAX disasters? (NYT)
- Why that “stupid piece of paper” still matters. (Washington Post)
In this podcast, data privacy/data security expert Jonathan Armstrong and Compliance Evangelist Tom Fox use the framework of GDPR to discuss a wide range of issues relating to these topics. They consider what the US compliance and InfoSec security expert needs to know about what is happening in the UK, Europe and beyond. In this episode, we conclude our three-part series of some of the key lessons learned from the first year of GDPR. Some of the issues and highlights are:
Remediate then report. The remediation of an issue before reporting can be the key issue for regulators on whether they will move forward with a more public spanking. It is important to show that you have learned lessons and applied them to the facts of your data breach. Don’t try and cheat the victims by imposing new contractual terms such as Equifax did in its recent settlement. Think of the simple way for a data breach to occur, a briefcase left on the Tube.
Don’t Diss the DPA. Why would a company take on the regulator? You must respect the regulator even if you disagree with them. You can make a bad situation worse by attacking the regulators. This does not mean you cannot forcefully argue you position or zealously represent you client but calling regulators idiots in public filings will not help you position or your case.
Keep logs. This is important in case you need to revisit a decision later. Regulators can ask to see these logs at any time, not simply during an investigation or enforcement action. A compliance officer should be involved in the maintenance of the log system. Document Document Document. Unannounced inspections are beginning to occur.
Debrief and Learn. Revisit the facts to see what lessons are to be learned. Continuous improvement. Even on a journey of 1000 miles, it is important to look back. Once again if you make a change due to a breach or other event, document what you have done so you can show the regulators.
For more information on Cordery Compliance, go their website here.
For more information on data breaches, see here.
Also check out the GDPR Navigator, one of the top resources for GDPR Compliance by clicking here.
CONVERGE is in its 4th year of bringing together the world’s leading companies for 2 days of dynamic speakers, thought-provoking breakout sessions, and opportunities to connect with like-minded professionals. You will leave the conference with new resources and best practices allowing you to continue the hard work of driving ethics to the center of your business. In today’s episode I visit with Kurt Stitcher, Vice President, Global Compliance at DJO Global, about his upcoming talk, Operation Globalization!
How do you take a US ethics & compliance program and globalize it? Hear from an expert in the trenches with practical tips on operationalizing a program, from policies and standards, anticorruption processes, and risk management and taking a US program to a modern global program. Learn about building relationships not only with the C-Suite level but with business leaders literally across the globe.
For more information on Converge19, click here.
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 I go into the weeds to explore what additional educational degrees or certifications a mid-career compliance professional should consider obtaining to further their career.
Some of the highlights include:
- How did Matt become interested in this question?
- What types of additional university degrees will assist the compliance professional?
- Why a law degree will not help the mid-career compliance professional?
- Does legal training apply to compliance any longer?
- Why you should assess your skill set and then move to fill any gaps to become a more well-rounded compliance professional.
- Why other university disciplines such as behavioral phycology, Human Resources and Risk Management are more valuable than law degrees for the compliance professional.
For additional reading see the following:
Matt’s blog post, Study Law to Advance Compliance Career?,on Radical Compliance.
For more information on Converge19, click here.
CONVERGE is in its 4th year of bringing together the world’s leading companies for 2 days of dynamic speakers, thought-provoking breakout sessions, and opportunities to connect with like-minded professionals. You will leave the conference with new resources and best practices allowing you to continue the hard work of driving ethics to the center of your business. In today’s episode I visit with Valerie Tower, VP, Global Compliance and CCO, Visa Global Services Inc. (Visa B2B Connect) about her upcoming talk, Cross-Functional Collaboration.
It may not take a village, but it definitely takes collaboration over a common goal to build a truly robust compliance program. A strong compliance program engages more than just a firm’s compliance officers; this discussion will include practical advice and real examples of how compliance departments— large and small— can work best with their peers in legal, human resources, sourcing, audit, and risk, as well as the internal clients that they serve. In this session, we will consider how the compliance function can remain independent while still working collaboratively with the business and with its peer support functions.
For more information on Converge19, click here.
