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Modern Medium

Welcome Modern Medium to the Compliance Podcast Network

I am pleased to welcome to the Modern Medium Podcast to the Compliance Podcast Network! In this new podcast Paris Fox leads a discussion on about the tools, strategies, tactics, and possibilities in modern medium design. In our first episode, we’re exploring ideas: how they form, how they change, and how we might incorporate those ideas into graphic design. Every compliance practitioner should listen to this podcast to help improve their messaging with a sharp millennial point of view.
Episode 1-Introduction
The creative process and coming up with ideas
When you’re stuck in a creative rut, it’s difficult to know where to begin with an idea. Even when you dohave an idea, it’s easy to get caught up in what you think something is supposed to be or what it’s supposed to look like. So it’s an important part of the process to learn how to let go. Ideas can come from anywhere. You can think of anything as a base point and go from there with it. Think about what you knew before, think about what you know now, and think about how things have changed. This doesn’t have to go anywhere tangible; you can use this as a brainstorming exercise or mind map and take off from it.

Episode 2-Incorporating Time into Art

Thinking about time
Pick a sense, and spend 24 hours being fully aware of it. For example, what are the sounds that you experience when you go to class? As you go home? Or commute to work? Just begin to acknowledge the way you’re moving through time, because it’s easy not to think about. Documentation is also critical: it’s easy to experience and acknowledge these things, but how are you going to see how they’ve changed over time if you don’t document it?
Episode 3-Making Art a Sensory Experience
On this episode of the Modern Medium Podcast, we’re exploring our senses: while it’s common for art to have visual and aural components, we don’t normally think about art in terms of smell, taste, or touch. But art is supposed to imitate life, and within life, we experience these all at once. How then can we make art a sensory experience?
Episode 4-Are You Creating Barriers to Your Art
Barriers
On this episode of the Modern Medium Podcast, we are exploring barriers: might artists inadvertently create these barriers to their art? And how does this affect its experience? Barriers can be anything: a blind person who can’t see the art, or someone with a learning disability who might not understand the art in the way that it was intended. But they can still experience art in other ways that you might not expect, and so in this way, art can be accessible to anybody. It’s just a matter of creating that space.
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Daily Compliance News

Daily Compliance News: April 5, 2019-the I feel very much loved edition

APRIL 5, 2019 BY TOM FOX


In today’s edition of Daily Compliance News:

Categories
Innovation in Compliance

Innovation in Compliance-Part 4: What are the challenges for Supply Chain Risk Management in 2019?

We are on Episode IV of the special five-part podcast series on an innovative approach to managing third party risk. This week I am joined by James H. Gellert, the Chairman and Chief Executive Officer (CEO) of Rapid Ratings International Inc. (RapidRatings), the sponsor of this series. Our conversation is on helping companies manage their third-party supply chains through financial health. The RapidRatings approach is incredibly innovative, with a series of products and services that should be considered by the compliance practitioner. Today, we discuss some of the challenges Gellert sees in 2019 and going forward.

Gellert began by observing that organizations are aligning their suppliers and supply chain to be the more resilient to market volatility. With this increased volatility, suppliers need to be able to go through such periods and come out on the other side still in good business and financial health. This certainly contributes to the longer-term core health of a company. Another area critical to understanding your business risk is “what the two to three-year perspective is on a company as well as the one-year perspective. Companies tend to try to align themselves with suppliers that have strong core health so they will be around, be trusted, be nimble and agile over the next handful of years.” However, even if you wanted to avoid all risks, your organization cannot do so. This means you must work to manage risk. But with greater risk this usually means greater business opportunity.
It really turns on getting “full risk visibility”. As Gellert noted, “one cannot manage the unknown risks that can occur in unknown.” This goes to the big risks such as is now going on in the UK with the Brexit imbroglio that Parliament has put not only itself but the British nation into. Gellert said, “Everyone knows that Brexit is extremely important for the companies that are affected in the UK and in Europe, but without a resolution on what the Brexit plans going to be, no one really knows how much. This uncertainty is affecting companies and the management of their supply chains in all sorts of ways.” But even turning away from such massive unknowns as Brexit, down to a much more macro environment, Gellert believes “it is important for people to recognize that over the last 10 years this country has been in an incredible credit market, with artificially low interest rates and investors scrambling down the credit curve to find yield wherever they can.” It will end and are you ready from a supply chain risk management perspective?
While the easy credit market has bolstered the low end of the credit markets so that weak or inefficient companies have had access to capital and been able to raise money at inexpensive rates; as the market begins to change you will see more volatility in the market, higher interest rates, therefore higher costs of capital. This means that over the next couple of years, companies  will be unable to refinance the debt that they have so easily financed over the last few years. Gellert believes this is “going to cause a lot of problems because private companies and smaller businesses will have a harder time raising money and that will affect their ability to expand and just deliver on goods that have obligations to deliver on.” This translates to supply chains as a convergence of factors wreaking havoc over the next few years on supply chain risk management.
We then turned to cyber risk, which is one of the, if not the, hottest risk management issues for a variety of parties, sectors and relationships for 2019 being discussed at the Board level. While this topic gets a fair amount of attention when someone starts to work with a new supplier, it gets less attention in the continuous monitoring of those suppliers. Gellert says that you must “be able to look over time during the lifecycle of working with a company on whether they’re able to continue to invest in state-of-the-art information technology systems that will allow them to avoid those cyber risks or manage those cyber risks. And companies that are weakening in financial health have less flexibility to be able to invest in the other areas that are in areas that are going to protect or expose their customers and other counterparties to risk cyber being one.”
RapidRatings has found more correlations between financial health ratings and the weak companies that carry high financial risk and their ability to deliver a quality product. The ability to deliver on time and the ability to invest in cybersecurity programs are all interconnected. Gellert sees that “They really need to be viewed as interconnected elements and not looked at as a separate topics and separate risks. The more sophisticated risk management programs are evaluating them as connected risks and making sure that their suppliers have programs in place to try to be able to spot problems before they exist.” This is another facet of  getting transparency and a collaborative relationship with suppliers to discuss these problems before they become crippling events so that you can review and remediate them as they are potentially emerging. It means, above all, being proactive and understanding the interconnected relationship involved.
Many compliance practitioners and supply chain professionals understand the need for due diligence but that is only the starting point. It is the starting point for an ongoing relationship and ongoing dialogue, ongoing monitoring companies with more mature compliance programs certainly understand that in the supply chain realm. More and more companies are embracing this process. Gellert stated, “it is being able to action the analytics and action the data that emerges from the risk management itself to be able to build a more cohesive risk management process. It’s really about linking all of those through the business units of a company that may touch on the risk management of an individual supplier as well as the supply base as a whole.”
Please join us tomorrow when we conclude the series by considering the supply chain efficiency premium going forward.
This podcast series is sponsored by Rapid Ratings International, Inc. For more information, check out their website at www.rapidratings.com.

Categories
Everything Compliance

Everything Compliance-Episode 44, the April is Here edition

Welcome to the only roundtable podcast in compliance. Today, in Episode 44 Tom Fox sits in for Mike Volkov, who is on assignment.

  1. Jonathan Armstrong discusses a recent presentation he saw by the OECD on some of the key and current numbers on the global fight against bribery and corruption. Jonathan shouts out to Nicola Howard QC for her work on DPAs in the UK and the British Airways for its pizza delivery service from London to Lagos.
  1. Matt Kelly details the recent SEC whistleblower award to two individuals of $50MM. There were multiple claimants and the award detailed what the SEC values in terms of information. He also discusses the award in the context of the Trump administration’s attempt to gut the SEC whistleblower program. Matt rants on the unqualified Trump nominee for the Fed, Stephen Moore.
  1. Jay Rosen talks about how the #MeToo continues to resonate in Hollywood as yet another studio executive is forced to resign. This time the scandal is not about power over another but about the conflicts which arise when some in a relationship uses his power to promote his paramour over others. It is also about how the studio internal investigations continue to clear the studio execs of any wrongdoing. Jay shouts out to Matt Kelly for attending the SCCE Regional event in Boston.
  1. Tom Fox, sitting in for Mike Volkov discusses a compliance-based solution to help manage the opioid crisis. He shouts out to (now) former Wells Fargo CEO Tim Sloan for admitting the abysmal job he did in the wake of the fraudulent account scandal by resigning and rants on Wells Fargo which cannot seem to move beyond the scandal.

The members of the Everything Compliance panelist 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– Rounding out the panel is our UK colleague, who is an experienced lawyer with Cordery in London. Armstrong can be reached at armstrong@corderycompliance.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.
For additional reading and listening check out the follow additional resources:
Matt Kelly’s blog post, $50 Million SEC Whistleblower Award  in Radical Compliance.
Tom Fox, has two blog posts on a Compliance Response to the Opioid Crisis(Part 1 and Part 2) in the FCPA Compliance and Ethics Blog. Also listen to his podcast recording with the person who came up with the solution, Jesse Caplan, on a special podcast series Emerging Issues in Healthcare Compliance (Part I and Part II), on the Compliance Podcast Network.
Jay Rosen’s article Haven’t We Seen This Film Before on Corporate Compliance Insights.
OECD report underlying the presentation discussed by Jonathan Armstrong entitled, “OECD Strategic Approach to COMBATING CORRUPTION AND PROMOTING INTEGRITY”. It is available for no charge.

Categories
Daily Compliance News

Daily Compliance News: April 4, 2019-the Bigot Law edition

APRIL 4, 2019 BY TOM FOX


In today’s edition of Daily Compliance News:

Categories
Innovation in Compliance

Innovation in Compliance-Part 3: Third Party Expansion

We are on Episode III of special five-part podcast series on an innovative approach to managing third party risk. This week I am joined by James H. Gellert, the Chairman and Chief Executive Officer (CEO) of RapidRatings International Inc. (RapidRatings), the sponsor of this special series. Our conversation is about helping companies manage their third-party supply chains through financial health. The RapidRating approach is incredibly innovative, with a series of products and services that should be considered by the compliance practitioner. In today’ episode, we discuss the issue of third-party expansion.

We began with a consider of the definition of third-party. Gellert related, “Historically, people talked about simply an entity outside of your organization as a third party. However, that definition is broadening, to mean really that entity with which your company works.” Obviously, this can be a supplier or vendor, it can be a service provider, a customer, a joint-venture (JV) partner and/or an intercompany affiliate. A broader view could include intercompany affiliates as third parties, even though many people would see them as just being another entity inside of a business. Gellert said, “the definition of third parties is expanding, which only makes life more complicated for anyone trying to do third party risk assessments and then the tiering just creates an exponential change.”
Specifically, “in supply chain, a tier one supplier is one of the suppliers your organization is directly purchasing from. Next a tier two is one that your company’s tier one is buying directly from. This means for risk managers assessing the various risks of their supply chain have to go deeper and deeper. One way to do so is through trying to understand the connection between tiers one, two, three, four and so on. The problem is there are many risks that companies do not manage because they cannot identify which companies are taking risks.” Gellert further noted, “one of the hottest topics in 2019 for a supply chain and risk managers is trying to get their arms around how to handle this particular question.”
I asked Gellert how would he suggest a supply chain professional began to think through some of these issues articulated but in the context of a global supply chain? He began by stating, “anyone who is involved in third party or supply chain risk management needs to try to map out and understand the suppliers whose exposure they need to assess for their organization.  Obviously, this includes both direct and indirect suppliers but in terms of the tiering, the best way for anyone to understand the supply chain risk is to have really good communication with their tier one suppliers to be able to discuss the risks to both businesses.”
Moreover, “this means communicating with a tier one supplier about who their tier ones are that are providing product or service that are coming to that client. Only with that type of transparency and communication can businesses look through the tier one into the sub tiers to understand the risk your organization has and where there may be a risk concentration. Without effect communication and dialogue, created and fostered as part of the relationship, people are going to fly blind.” Finally, in this global economy with such internationalization and diversification of supply chains, organizations you “really do need to pull out all the stops to try to manage risk. Communication is one of the first places to start.”
Gellert concluded with some thoughts on transparency, which he believes is not only important but “should be applied everywhere.” He said you should begin with your tier ones but the ability “to look deeper into the supply chain is also really important.” Further, Gellert said, “a lot of supply chain risk professionals can go wrong if they use transparency as a bludgeon as opposed to as an opportunity. Then the company they are asking for information from only sees risks in disclosing information as opposed to seeing commercial value and we promote transparency as a means to commercial value.” But it is more about fostering the relationship so that you can adequately assess and then manage the risk. Gellert noted, “that’s the key part, that people have to embrace if they’re going to be able to look deeper into their supply chains.”
Please join us tomorrow when we consider some of the challenges Gellert is seeing in supply chain risk management for 2019 and going forward.
This podcast series is sponsored by Rapid Ratings International, Inc. For more information, check out their website at www.rapidratings.com.

Categories
Compliance Into the Weeds

Compliance into the Weeds: Episode 117-Wells Fargo Update

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 (the coolest guy in compliance) and I take a deep dive into resignation of now former Wells Fargo CEO Tim Sloan. We use his departure as a starting point to discuss some of the issues which continue to bedevil the organization some three years after the original fraudulent accounts scandal broke.

Some of the highlights include:

  • Another tough Congressional hearing, another Wells Fargo CEO resigns.
  • Why can’t Wells Fargo turn around its culture?
  • Should an outsider (IE., non-long term Wells Fargo employee be brought in to right the ship?
  • What is the difference in high-performing and high-pressure organizations?
  • Why does Wells Fargo continue to resist whistleblower retaliation claims?
  • Does Wells Fargo treat its customers as it treats its employees?
  • What draconian sanctions are the OCC and Fed considering?
  • What can Wells Fargo do to actually change its culture?

If you are in Houston on Friday, please plan to attend the South Texas College of Law 2019 Symposium on Compliance in international Corporate Legal Practices – Legal Development and the Talent Needs of the Future. Information and registration details available here.

Categories
Great Women in Compliance

Great Women in Compliance: Life or Death Compliance with Virginia MacSuibhne

In healthcare, compliance isn’t just about following the rules — how do you manage when it’s a matter of life and death? Joining us on this episode is Virginia MacSuibhne, Vice President and Chief Compliance Officer of Roche Molecular Solutions, talking about holding themselves to higher standards, operating on values, and the power of diversity.

Compliance and healthcare
Healthcare is a highly regulated industry that essentially boils down to having a comprehensive quality management system. Tests that detect things such as cancer, or HPV, or the Zika Virus need to work and deliver consistent and accurate results.
So there is no need to explain why compliance is important. The whole company gets it. These are test results that people rely on — it could be you, a parent, a sibling, or a grandparent, waiting to ensure that the test result they get is right. So the people working on this hold themselves to a higher standard and are making sure they cross all the t’s and dot all the i’s because it’s important. There’s a patient — a real person — on the other end of it.
Global values
Having products that need to be delivered all over the world means having to deal with wildly inconsistent regulations, and that’s where Roche values, leadership commitments, and cultural beliefs come into play. Much of their growth also comes from acquisitions, which means the merging of very different workplace cultures. But at the end of the day, everybody is in the healthcare space, and people understand that it’s about doing the right thing.
Diversity of women in compliance
Thirteen out of the fourteen people in Virginia’s team are women, and they have a diverse background of life experiences and skill sets, represent almost every race on the spectrum, speak different languages, married, divorced, single parents, single with no kids, some people with disabilities, and with ages ranging from their 20s to their 60s. Sometimes we think about diversity in pretty narrow terms, but it’s this diversity that brings richness and perspectives into the mix.
Virginia believes that the reason women are more prevalent in the field is because it’s new — there’s no need to start by breaking the glass ceiling, which is empowering.
The future of compliance
Compliance is only becoming more institutionalized. Her advice is to go to the conferences and begin to network. Start thinking about how you can write, speak, present, and share ideas. The best things this community has come up with has come from collaborating with people who share different perspectives and can take our ideas one step further.
In terms of looking forward, social media is changing the compliance landscape, and very rapidly! When a case has media coverage, you don’t have three weeks to prepare a press release. You have five minutes, if that. People are asking for opinions minutes after new laws are released. It’s going to affect our data, information, governance, and privacy.
Resources
Virginia MacSuibhne
Categories
Daily Compliance News

Daily Compliance News: April 3, 2019-the trial of the century begins edition

APRIL 3, 2019 BY TOM FOX

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In today’s edition of Daily Compliance News:

  • Trial of ex-Malaysian PM Najib Razak to begin. (The Guardian)
  • Shocked, just shocked to find out drug company pushed opioids. (NPR)
  • Former Colombia official convicted of bribing government officials on behalf of Odebrecht. (Colombia Reports)
  • UK’s Financial Reporting Council will examine KPMG. (Wall Street Journal)
Categories
Creativity and Compliance

A Video Isn’t Just a Video


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 to explore these issues. In today’s episode A Video Isn’t a Video – we discuss some of the creative approaches to Ethics & Compliance training and communication videos. We break down some of the different types of videos and the benefits of each creative technique.
Scenario-Based Videos, Narrative (Live Action)
These are the most common and are great for showing real life situations. They can show a slice of life. However, it may be hard to represent your whole company, i.e. hard to show diversity of different environments, different people. Also, they can require context – you may well need to add the lesson. They are the most expensive and the hardest to pull off well and the hardest to successfully enact.
Animation – Scenario-based
The tend to be less real and unfortunately can be cheesy. However, they can be better for diversity and environment. They are usually the same per video, but you can do them one at a time.
Character Monologues (falls in the “real” category
They are a great way to show real people. They are also great for showing different types of personalities or different job functions. There is more telling than showing. Finally, they are less expensive and easier to produce.
Talking Head Videos
These are great for making a personal connection and for highlighting real people. They are best if you add some creativity usually by having an engaging host/personality. Make it a dialogue such as an interview or talk show. You have to work as this format can be boring.
 Involve Your Employee Videos
This format is the best for going viral and for showing “who we are”. At times scenes can be hard to do well and there is the risk of employee embarrassment. The best results tend to be seen when you give employees something simple to do and let them be themselves. Once again it is best if you add some an engaging host/personality to lead interviews. Finally, this format can be an efficient way to generate a lot of content.
Storytelling Videos
This can be a great way to share interesting, real stories. It tends to be more telling than showing. It can easily involve real people or actors and can cover more nuance to share lots of context.
The bottom line is that a video isn’t a video. There are different creative devices that are better for different things. Typical Ethics & Compliance training doesn’t work, because it’s preachy and boring. Education = training and communication and serve two different purposes.
Ronnie Feldman
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.