Author: Admin

Categories
Regulatory Ramblings

Regulatory Ramblings: Episode 78 – How Well Does the Money Laundering Control System Work? Spotlight on: Rethinking AI Regulation: Why Current Approaches Fall Short with Oonagh van den Berg, Prof. Peter Reuter, and Dr. Mirko Nazzari

In the initial spotlight segment of this episode, we speak with returning guest and regulatory compliance expert Oonagh van den Berg of Raw Compliance about an article she recently penned on LinkedIn titled “Rethinking AI Regulation: Why Current Approaches Are Falling Short” (check the links below).​

Following that, we chat with anti-money laundering (AML) and financial crime scholars Dr. Mirko Nazzari and Prof. Peter Reuter about their new article in the Journal of Crime & Justice, published by the University of Chicago Press, entitled “How Well Does the Money Laundering Control System Work?”

Oonagh van den Berg is the founder of Raw Compliance, a compliance consultancy and training firm. Having grown up in Northern Ireland during the tumultuous 1980s, she is a compliance veteran.

A lawyer by training and an entrepreneur by vocation, she grew up during the dark chapter of her country – better known as “The Troubles”- and went on to achieve success after success: first as a lawyer, then as a compliance officer, a recruiter, and later, a consultant and educator. Having previously taken up roles in Asian financial hubs such as Singapore and Hong Kong, she is currently based in Braga, Portugal.

Dr. Mirko Nazzari is a postdoctoral research fellow in Political Science at Università degli Studi di Sassari, Italy. He holds a PhD in Criminology from Università Cattolica del Sacro Cuore (Italy), where he also served as a Research Fellow at Transcrime – Joint Research Centre on Innovation and Crime.

His research focuses on assessing and enhancing public policies for crime prevention and control, with particular emphasis on money laundering, cybercrime, and the policy challenges posed by emerging technologies. He has published extensively in these areas and contributed to applied policy research at both national and international levels.

Dr. Peter Reuter is Distinguished University Professor in the School of Public Policy and Department of Criminology at the University of Maryland. In 2019, he was awarded the Stockholm Prize in Criminology, the most prestigious award in the field. He founded the International Society for the Study of Drug Policy and RAND’s Drug Policy Research Center.

Discussion:

The podcast begins with a brief conversation between Oonagh and Regulatory Ramblings host Ajay Shamdasani about her September 8, 2025, article on LinkedIn, entitled “Rethinking AI Regulation: Why Current Approaches Are Falling Short.”

Her key takeaway for listeners and her readers is that: “AI isn’t just a technology—it’s an ecosystem. Regulating it requires cooperation, adaptability, and vision. Anything less will fail.”

Oonagh goes on to say: “Artificial Intelligence is evolving faster than regulators can keep up. Around the world, governments are racing to design frameworks to govern AI use, but the struggle is evident: how do you regulate something so pervasive, adaptive, and borderless without stifling innovation or missing critical risks?”

She assesses Hong Kong’s present dilemma – highlighted in a recent South China Morning Post article – that illustrates such challenges. The city faces obstacles in enforcing rules that would necessitate AI-created content to be labelled. Experts, she says, warn that the city’s market is “too small” for supporting “bespoke legislation, and without robust enforcement mechanisms, rules around watermarking and labelling may simply be ignored.”

“This isn’t just a Hong Kong problem. It’s a global one. And it’s a sign that we need to rethink how AI regulation is designed and enforced,” she writes.

As the former British colony crafts its own AI rules regime, she highlights the challenges the city faces:

1. Fragmented and reactive regulation: Hong Kong currently relies on piecemeal laws—privacy, IP, finance—to govern AI. The lack of a unified statute leaves gaps and inconsistencies. This mirrors the situation in many jurisdictions where regulators patch AI onto existing frameworks rather than building something purpose-built.

2. Enforcement complexity

Even when rules exist, implementation is shaky. For example, China mandates labelling and watermarking of AI content. But technical evasion is easy, watermarking can be stripped, and compliance varies across platforms. Enforcement lags behind innovation.

3. Scale and coordination problems

Small markets like Hong Kong can’t realistically create standalone AI regimes that diverge too far from global standards. With multiple regulators (PCPD, HKMA, SFC) touching AI issues, coordination becomes another hurdle.

4. Ethical and societal risks remain unaddressed

Labelling helps promote transparency, but it doesn’t address deeper concerns, such as misinformation, deepfakes, privacy breaches, biased algorithms, or liability for harm.

Ultimately, Oonagh notes the Special Administrative Region (SAR) needs to learn from other models.

For example, the EU AI Act is a superb piece of legislation. “The European Union has introduced the world’s most ambitious attempt at AI regulation,” she says. “Its risk-based approach divides AI systems into categories:

• Unacceptable risk (e.g., social scoring) – outright bans.

• High risk (e.g., biometrics, healthcare AI, financial services AI) – strict compliance, human oversight, mandatory audits.

• Low/minimal risk – lighter obligations.

“This is a principle-driven and comprehensive framework, but critics warn that its heavy compliance burden may stifle innovation in smaller companies. Enforcement capacity will also be tested—many national regulators are underfunded compared to the scope of responsibility,” she wrote.

Then there is the Singaporean model, which she acknowledges is “a more agile, industry-friendly approach with its Model AI Governance Framework.” Instead of rigid laws, it provides:

• Voluntary best practices (transparency, explainability, fairness).

• Industry sandboxes to experiment safely.

• A strong focus on multi-stakeholder collaboration between regulators, academia, and industry.

“This approach supports innovation while nudging companies toward responsible AI. But without legal force, it risks leaving gaps where bad actors can exploit weaknesses,” she says.

For Hong Kong to have a more workable approach, therefore, she recommends borrowing what works and is relevant to the local context. Namely:

Unified AI Regulation: Move beyond fragmented laws and adopt a dedicated AI framework, grounded in core principles: accountability, transparency, fairness, privacy, and safety.

Risk-Based Oversight: Like the EU Act, differentiate between high-risk and low-risk AI use, applying strict oversight only where harms could be severe.

Practical Enforcement Tools: Invest in watermarking and labelling standards that are technically robust, enforceable, and difficult to evade—while recognizing that labelling alone isn’t a silver bullet.

Dedicated Oversight Body: Create a central AI regulator to coordinate across sectors, avoid duplication, and respond quickly to emerging risks.

Public Engagement & Education: Foster societal trust by educating citizens on the risks, rights, and safeguards associated with AI, ensuring transparency in the decision-making process surrounding AI.

Global Alignment: For small markets like Hong Kong, aligning with global regimes—whether the EU Act’s structure or Singapore’s collaborative model—is key to avoiding regulatory isolation and easing compliance for international companies.

As Oonagh concludes, AI regulation cannot be built on ad hoc legal fixes or unenforceable guidelines. “Hong Kong’s struggles highlight the real-world limitations of trying to bolt rules onto outdated systems. The EU shows the power of principle-based, risk-tiered regulation, while Singapore demonstrates the agility of a collaborative, innovation-friendly approach,” she writes.

“The answer lies in combining these lessons: a unified, principle-driven law; proportionate, risk-based oversight; enforceable standards; and international harmonisation. Regulation must evolve as quickly as AI itself—not to slow it down, but to ensure that innovation happens safely, transparently, and for the benefit of society,” she says.

Moving into the lengthier discussion portion of the episode, Mirko and Peter discuss their article, published earlier this summer, entitled “How Well Does the Money Laundering Control System Work?”

The article takes a critical look at the global AML system and poses a simple yet fundamental question: Has it actually made money laundering more challenging or risky for criminals? The answer is more complicated— and less encouraging—than many might hope. And it’s a question for which there may be different answers at local, national, transnational, and global levels.

Mirko & Peter’s essay offers a critical and data-driven analysis of the global AML regime, highlighting:

▪️ The lack of empirical evidence that ML has become more difficult or less prevalent

▪️ The often symbolic nature of international evaluations, such as the Financial Action Task Force Mutual Evaluations

▪️ The high costs and unintended consequences of AML measures, including derisking, and

▪️ The central role of private entities in detecting suspicious activity, with significant operational implications. Although lengthy, it is highly recommended reading for anyone working in or interested in AML, financial crime, and public policy evaluation.

Simply put, Money laundering remains a significant concern worldwide, with substantial resources dedicated to preventing illicit funds from entering the financial system. Yet, despite decades of legislative and regulatory development, the effectiveness of AML frameworks remains dubious.

Again, the article is a sharp, data-informed critique of the current state of the international AML apparatus. The authors highlight seven key findings that challenge conventional wisdom:

  • Major banks regularly face hefty fines, but executives very rarely face criminal convictions
  • Money laundering is often no more complex or expensive today than it was in the late 1980s
  • Most laundering methods remain surprisingly basic
  • The system disproportionately benefits wealthy jurisdictions
  • AML measures yield valuable intelligence for law enforcement
  • But they also carry risks, including de-risking and data misuse
  • The real costs of AML compliance are never part of public debate. Only occasionally is there mention of the costs borne by banks.

The abstract to their piece states: “The continued globalization of finances has generated an ever-larger array of methods for making criminal earnings appear legitimate. The global regime to control money laundering has become more sophisticated and comprehensive (i.e., expensive and intrusive). There is no evidence that money laundering is declining or becoming more difficult or expensive. The system’s failure has many sources. Nations that pushed for its creation and development have been unwilling to implement critical elements. Major banks have repeatedly failed to meet their obligations, suggesting either insufficient commitment or a lack of the necessary skills and systems to comply. Regulatory oversight has been inadequate. There is, however, evidence that the system aids enforcement of laws against criminal enterprises. Despite the consensus that the system works poorly, there is almost no discussion of substantial reforms.”

Their key observations or conclusions are that simple laundering strategies remain pervasive, there has been, relatively speaking, limited adoption of sophisticated methods like crypto, and most launderers tend to launder their own funds rather than avail themselves of the “professional services” of more experienced financial criminals.

The challenges they cite include the limited policy debate over AML and financial crime compliance in general, a tendency for policymakers and regulators to focus on incremental improvements rather than comprehensive reforms, and whether the current system of ever-growing suspicious activity report (SAR) filings is sustainable in the long term.

As Mirko says, “SARs are contributing to investigations,” but it is unclear whether such a system is sustainable over time. He highlights a common practice among money laundering reporting officers (MLROs) of reporting everything to avoid fines, sanctions, or personal reprimands—a phenomenon known as “defensive filing.”

However, the example of the U.S. Treasury Department’s FinCEN shows that four million SARs are filed annually, which cannot be effectively managed. This places a significant strain on Financial Intelligence Units and law enforcement agencies, whose limited resources make it challenging to keep pace with the volume of reports.

Mirko added that not all money launderers are the same: the typologies of how a drug dealer, a kleptocrat, and a cryptocriminal launder funds may be very different.

When asked what policy choices they would advocate for regulators and law enforcement to adopt, both Mirko and Peter stressed the need to set realistic goals, develop alternative effectiveness metrics, and strike a balance between the competing yet compelling goals of AML controls and financial inclusion.

As the conversation concluded, Peter acknowledged that the White House’s statement earlier this year, indicating it would scale back AML enforcement, could lead to selective enforcement of such rules under the current Trump administration.

Regulatory Ramblings podcasts is brought to you by The University of Hong Kong – Reg/Tech Lab, HKU-SCF Fintech Academy, Asia Global Institute, and HKU-edX Professional Certificate in Fintech, with support from the HKU Faculty of Law.

Useful links in this episode:

You might also be interested in:

Connect with RR Podcast at:

LinkedIn: https://hk.linkedin.com/company/hkufintech 
Facebook: https://www.facebook.com/hkufintech.fb/
Instagram: https://www.instagram.com/hkufintech/ 
Twitter: https://twitter.com/HKUFinTech 
Threads: https://www.threads.net/@hkufintech
Website: https://www.hkufintech.com/regulatoryramblings 

Connect with the Compliance Podcast Network at:

LinkedIn: https://www.linkedin.com/company/compliance-podcast-network/
Facebook: https://www.facebook.com/compliancepodcastnetwork/
YouTube: https://www.youtube.com/@CompliancePodcastNetwork
Twitter: https://twitter.com/tfoxlaw
Instagram: https://www.instagram.com/voiceofcompliance/
Website: https://compliancepodcastnetwork.net

Categories
Blog

Board Week, Part 5: Your First Board Seat: A Compliance Professional’s Guide to Success

Ed. Note: this blog post concludes our 5-part series this week on Board issues for the compliance professional.

For many compliance professionals, being selected to serve on a board of directors is a career milestone. It signals that your judgment, risk insights, and crisis-tested leadership are valued at the highest level of governance. But stepping into that boardroom for the first time can feel daunting. The expectations are high, the norms are unspoken, and the stakes — governance, strategy, and shareholder value — could not be greater.

The good news? Compliance leaders already have many of the tools needed to thrive. You understand oversight, you know the difference between management and governance, and you have a keen sense of risk. What you need now is a roadmap for the first 90 days and beyond. Drawing from hard-won lessons and my own experiences, here is a playbook for how compliance professionals can not only survive but excel when they take their first board seat.

Mastering the First 90 Days

How you arrive determines how long and how well you serve.

1. Listen Hard

Your first task is to absorb as much as possible. That means reading everything, including board books, minutes, charters, risk registers, and committee reports—to map who influences what and how decisions are made. Pay attention not just to the formal processes but also to the informal alliances and power dynamics. And always keep in mind the golden rule of governance: noses in, fingers out. Boards are not there to manage operations. You are there to oversee, question, and guide, not to run the business.

2. Pick Your Moments

New directors often feel pressure to speak up quickly to demonstrate their belonging. Resist that urge. Early on, focus on asking clarifying questions rather than staking strong positions. For example:

  • “Can you walk me through the assumptions behind this forecast?”
  • “How does this proposal fit into our risk appetite?”

If you sense a question may take the discussion into weeds, make a note and raise it later with the chair, CFO, or committee lead. This shows respect for the board’s time and demonstrates that you know when and how to engage.

3. Add Value in Your Lane

Compliance professionals bring unique expertise that most boards need. Use it wisely. Offer short, focused contributions that advance the discussion without grandstanding. Boards value directors who are helpful, not those who are performative. Demonstrate your ability to contribute in ways that strengthen governance. Examples include:

  • A memo on third-party risk in an emerging market.
  • A list of key oversight questions for AI adoption.
  • A template for crisis after-action reviews.

4. Build Relationships

Your effectiveness as a director depends on trust. Schedule one-on-ones with committee chairs, the CFO, the general counsel, and the CHRO. These conversations will help you understand priorities, build rapport, and identify how your skills can best complement the board. Ask open-ended questions such as:

  • “What keeps you up at night?”
  • “How can I be useful to you in this role?”

5. Model Integrity

Boards need truth-tellers, and compliance professionals are uniquely qualified for this role. If messaging strays from your values in a crisis or if you sense spin overtaking substance, speak up. Deliver the truth with respect, but do not shy away from speaking it. Integrity, modeled consistently, builds credibility faster than any technical expertise.

Learning the Subtle Arts: EQ, Voice, and Timing

Technical skills will get you to the boardroom. Emotional intelligence will determine your influence once you’re there.

1. Ask the Deceptively Simple Question

The best directors are not the ones who speak most often; they’re the ones who move the conversation the farthest. One way to do that is by asking questions that reframe the discussion. For example:

  • “What would have to be true for this initiative to fail?”
  • “Which stakeholders haven’t we heard from?”
  • “What’s our escalation trigger if this risk materializes?”

These questions cut through complexity and shift the board from passive review to active oversight.

2. Use Tone Intentionally

Tone is a powerful instrument. There are moments when it is necessary to be assertive, such as when the stakes are high or values are at stake. At other times, your role is to synthesize, invite, and build consensus.

By modulating your tone, you signal confidence without arrogance and influence without domination. Consider phrases like:

  • “I’m curious…” to open space for dialogue.
  • “I recommend…” when it’s time to guide toward a decision.

3. Find a Mentor

Every first-time director should find a seasoned board member to serve as an informal mentor. A five-minute call before or after a meeting can provide invaluable insight into board culture, expectations, and unwritten rules.

Ask them candidly: “How did I land in that discussion? Was my intervention useful? What would you have done differently?” That kind of feedback can accelerate your growth exponentially.

Beyond the First 90 Days: Building Long-Term Effectiveness

Once you’ve navigated your first board cycle, the question becomes: how do you sustain credibility and build influence over time?

1. Deepen Your Governance Acumen

Compliance professionals often arrive with strong risk instincts but limited exposure to broader governance topics, such as executive compensation, shareholder engagement, and capital allocation. Make it a goal to broaden your perspective. Read widely, attend director education programs, and seek assignments on committees outside your comfort zone.

2. Balance Oversight with Strategic Contribution

Boards do not want directors who only highlight risks; they want directors who help balance risk with opportunity. As a compliance professional, learn to frame your insights in terms of strategic choices. This positions you as a partner in growth, not just a gatekeeper. For example:

  • Instead of: “This market carries high corruption risk.”
  • Say: “Here are the three risk mitigation strategies we can pursue if we want to expand into this market. Each has different costs and oversight implications.”

3. Stay Curious and Current

The regulatory environment evolves constantly. Bring fresh insights on new enforcement trends, ESG requirements, AI governance, or data privacy. Share these in concise, board-relevant formats, such as one-page updates, dashboards, or curated case studies. Being the director who consistently adds current, relevant context makes you indispensable.

4. Protect Your Independence

Finally, never forget that your duty is to the organization and its stakeholders, not to management. Independence is your north star. If you sense pressure to conform or remain silent, remember that your value lies in your judgment, courage, and integrity. Serving on a board for the first time is both an honor and a responsibility. For compliance professionals, it is also a natural progression. You already live in the space between risk and resilience, rules and judgment, compliance and culture.

To succeed, you must combine that technical expertise with the subtler arts of listening, timing, and relationship-building. Arrive prepared, model integrity, and contribute strategically. Do that, and you will not only occupy a seat at the table but also shape decisions that steer the organization toward long-term success.

Categories
Compliance Tip of the Day

Compliance Tip of the Day – So You Want to Be on a Board

Welcome to “Compliance Tip of the Day,” the podcast that brings you daily insights and practical advice on navigating the ever-evolving landscape of compliance and regulatory requirements. Whether you’re a seasoned compliance professional or just starting your journey, our goal is to provide you with bite-sized, actionable tips to help you stay ahead in your compliance efforts. Join us as we explore the latest industry trends, share best practices, and demystify complex compliance issues to keep your organization on the right side of the law. Tune in daily for your dose of compliance wisdom, and let’s make compliance a little less daunting, one tip at a time.

Today’s episode continues our five-part series, considering several questions about compliance officers working with or on the Board, and moves on to how a CCO can make themselves more marketable to sit on a Board.

For more on this topic, check out The Compliance Handbook, a Guide to Operationalizing your Compliance Program, 6th edition, which was recently released by LexisNexis. It is available here.

Categories
Compliance Into the Weeds

Compliance into the Weeds: SCCE Compliance and Ethics Institute Report

The award-winning Compliance into the Weeds is the only weekly podcast that takes a deep dive into a compliance-related topic, literally going into the weeds to explore a subject more fully. Looking for some hard-hitting insights on compliance? Look no further than Compliance into the Weeds! In this episode of Compliance into the Weeds, Tom Fox and Matt Kelly discuss Matt’s experiences at the recently concluded SCCE Compliance and Ethics Institute.

Matt shares his insights on the atmosphere, key sessions, and notable absences from the agenda. They explore the innovative use of AI in compliance programs, including the development of chatbots for policy inquiries. Additionally, they reflect on leadership changes within the SCCE and liken the metaphor of nurturing compliance to tending a bonsai tree, emphasizing the long-term growth and development of a compliance culture within organizations.

 

Key highlights:

  • The SCCE conference was well-attended with over 1300 participants.
  • The absence of key representatives from the Trump administration was notable.
  • Innovative presentations offered fresh perspectives on compliance topics.
  • Compliance professionals must adapt policies to effectively support AI tools.
  • Leadership changes at SCCE signal a new direction for the organization.

Resources:

Matt on Radical Compliance 

Tom

Instagram

Facebook

YouTube

Twitter

LinkedIn

A multi-award-winning podcast, Compliance into the Weeds was most recently honored as one of the Top 25 Regulatory Compliance Podcasts, a Top 10 Business Law Podcast, and a Top 12 Risk Management Podcast. Compliance into the Weeds has been conferred the Davey, Communicator, and W3 Awards for podcast excellence.

Categories
Daily Compliance News

Daily Compliance News: September 18, 2025, The Four Humours 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 in to the Daily Compliance News. All, from the Compliance Podcast Network. Each day, we consider four stories from the business world, including compliance, ethics, risk management, leadership, or general interest, relevant to the compliance professional.

Top stories include:

  • Muzzled Ben and Jerry’s founder resigns. (NYT)
  • Data Privacy Policies: To Be or Not to Be. (Reuters)
  • The 4 personality types. (BBC)
  • DOJ is about to cut loose the Binance monitor. (Bloomberg)
Categories
AI Today in 5

AI Today in 5: September 18, 2025, The No to Nvidia Episode

Welcome to AI Today in 5, the newest edition to the Compliance Podcast Network. Each day, Tom Fox will bring you 5 stories about AI, so start your day, sit back, enjoy a cup of morning coffee, and listen in to the AI Today In 5, all from the Compliance Podcast Network. Each day, we consider four stories from the business world, compliance, ethics, risk management, leadership, or general interest related to AI.

Top AI stories include:

  • Chinese companies told not to buy Nvidia chips. (Reuters)
  • Colorado postpones implementation of AI law. (Seyfarth)
  • AI engine for regulatory compliance. (Business Wire)
  • Experiments on kids with Chatbots. (NBC News)
  • Legislating for AI. (FT)

For more information on the use of AI in Compliance programs, my new book, Upping Your Game. You can purchase a copy of the book on Amazon.com.

Categories
Blog

Board Week, Part 4: So You Want to Be on a Board

If you work in compliance, you already speak the language boards care about risk, resilience, integrity, and long-term value. The opportunity now is to package your experience so that directors and the searchers who advise them will view you as a business voice who specializes in compliance, rather than the other way around. Drawing on insights from women leaders who have navigated their way to board service, along with hard-won boardroom lessons, we present today a step-by-step playbook for compliance professionals who want a seat at the table.

Reframe Your Value: From “Compliance Leader” to “Board-Ready Risk Strategist”

Boards add people to fill needs, not aspirations. Translate your day job into board outcomes.

As a CCO, you use judgment under uncertainty. Some of the key tasks of every compliance officer include triaging investigations, balancing disclosure risk, and managing interactions with regulators. Boards prize seasoned judgment more than technical depth. You also have a broad, enterprise risk lens. Recast hotline trends, third-party risk, sanctions exposure, data privacy, and culture measurement as strategy inputs and value protection, not just controls.

You should already have fluency crisis preparation and management. You know incident response cycles (facts are murky, pressure is high, stakeholders differ). That calm, evidence-first approach is board gold. Finally, show that you understand the boundary: boards govern, while management operates. You can probe, synthesize, and guide without taking control of the show.

Deliverable: Write a one-page Board Bio (not a resume). Lead with judgment, strategy impact, crisis experience, and committee relevance (Audit/Risk/Gov). Keep it crisp; your first paragraph must sing.

Choose Your On-Ramps: Nonprofit, Private, Public—In That Order (Usually)

Recruiters fill a minority of board seats; most come through networks and word of mouth. For many compliance professionals, the fastest on-ramp is to mission-driven or local nonprofit boards, followed by private company boards, and then public boards.

Nonprofit boards hone the muscle memory of governance, committee work, and board dynamics. You learn agendas, pre-reads, fiduciary duties, and the cadence of challenge/support. You also practice EQ moves, such as knowing when to ask in the room versus follow up offline. Private company boards value operators who have built programs and navigated growth risk, which are perfect for compliance leaders who have matured third-party, privacy, or cyber programs at scaling companies. Finally, public company boards hire for specific committee needs, prior board experience, and public company expertise (audit, compensation, nominating/governance, cyber risk).

Action to take: Pick three nonprofits whose mission you genuinely care about. Offer to help first (advisory project, committee seat), then raise your hand for the board. Passion + preparation beats paper credentials.

Build a Targeted Narrative, Not a Generic Pitch

Your pitch should not be “I want a board seat.”; but rather “Here’s the problem I’m built to solve.”

If you are a controls/assurance pro (SOX, internal audit, investigations): position for Audit or Risk committee. Emphasize financial integrity, whistleblower credibility, remediation discipline, and root cause rigor. If you are a tech-savvy, privacy-conscious, or cyber-savvy CCO, aim for Risk or Technology oversight. Stress incident playbooks, data governance, AI/ML risk, and cross-functional response. If you are facing cultural/ethical issues, look to nomination and governance needs. Areas such as board composition, CEO succession risk, incentive design that deters misconduct, and culture as control.

Homework: Then do industry homework. If you’re pursuing a career in healthcare, life sciences, fintech, or manufacturing, read 10-Ks, enforcement actions, and peer risk factors; convert your experience into sector-specific oversight value.

Network Like It’s Your Job (Because It Is)

Board seats are an art, not a posting. Your path will resemble a mosaic more than a pipeline.

Warm introductions often outshine cold resumes. Tell three people each week in positions such as GCs, CFOs, fellow CCOs, auditors, and PE operating partners exactly which needs you need to fill and in which sector. Peer groups are multipliers. Join compliance councils, audit institute chapters, NACD/director forums, and alumni boards. Offer to moderate a panel on “Board Oversight of Third-Party Risk” or “AI and Culture Risk.” Finally, be visible in solving problems. Publish a short LinkedIn series on board-relevant topics (e.g., “A director’s five questions for sanctions exposure”). Speak briefly; show judgment.

Remember: Patience wins. Boards decide on quarterly cycles, not recruiting sprints.

Get Committee-Ready—Fast

Most first-time directors enter through committees. Make yourself instantly addictive:

The Audit Committee. Develop a new approach that ties investigations, SOX controls, fraud risk assessments, and hotline patterns to financial statement risk. Show how your work protected revenue or EBITDA. The Risk Committee brings a heat map that integrates cyber, third-party, geopolitical, product safety, and culture risk. Demonstrate scenario planning and escalation criteria. The Nom/Gov Committee connects incentive structures, succession planning, ethics benchmarks, and board composition to long-term value. Finally, consider the Compensation Committee by translating root causes of misconduct into incentive design advice (pay for how results are achieved, not just that they’re completed).

Deliverable: Create a two-page Board Briefing Pack you can share confidentially when asked: a sample dashboard, escalation triggers, and a case study where your counsel changed a decision.

Do the Diligence: Culture, Time, and Risk

Do not treat an offer like a trophy; do your homework for the Company and the position. Ensure you are a cultural fit. Talk to multiple directors and at least two executives. Ask how the board challenges management, how dissent is handled, and how pre-reads and follow-ups actually work. If they are reticent to connect you, that is a red flag. Make sure you understand the time reality. Beyond quarterly meetings, count committee meetings, prep, and off-cycle crises. Nonprofit boards can be especially “needy”; set eyes-open expectations. And last but certainly not least, tie down the D&O and indemnification. Always ask to see the policy and indemnity language, including limits, carve-outs, and advancement of expenses. For public or PE-backed companies, confirm coverage by entity and by capacity.

Make Your Board Bio and Outreach Ready This Month

Create a one-page Board Bio. It should contain an Opening (3–4 lines) that demonstrates your judgment, sector context, and committee fit (e.g., “Audit/Risk-ready executive who led global compliance and crisis response across 30 countries; proven board advisor on cyber, sanctions, and culture risk”). It should contain 3-5 selected impact bullets tying actions you have taken to outcomes (“Reduced investigation cycle time 40% and increased substantiation quality; informed board decision to exit a high-risk distributor, avoiding potential enforcement exposure”). Add your board interests in selected industries, committee preferences, and geography. Of course, add your contact information.

Action: Take this and create an outreach list with 15 names, including those from legal, finance, audit, PE ops partners, CEOs you’ve advised, and nonprofit leaders. Ask for needs-first conversations, not a seat at the table.

Final Word: You’re More Board-Ready Than You Think

Boards do not need passengers; they need steady judgment, crisis fluency, and a practical grasp of how controls become strategy. That’s your wheelhouse. Do the homework, shape a needs-first narrative, and start where you can make an impact now. The seat will often come from a conversation you did not know would matter.

And when it does, remember the rule that separates great directors from the rest: noses in, fingers out, with a steady hand on the compass of integrity.

30-60-90 Action Plan

Next 30 days

  • Draft board bio + two-page briefing pack.
  • Reconnect with five execs who’ve seen your judgment under pressure; ask for introductions to their board contacts.
  • Identify and approach one nonprofit and one private company where your risk expertise is directly relevant.

Days 31–60

  • Speak on one panel/webinar: “Board Oversight of Third-Party & Sanctions Risk” or “What Directors Need to Know About AI and Culture.”
  • Conduct three informational interviews with current directors and refine your narrative based on their feedback.

Days 61–90

  • Commit to a nonprofit board or board committee role.
  • Join a director education program (NACD or equivalent) and complete a module on Audit/Risk oversight.
  • Publish a three-post LinkedIn series: “A Director’s Playbook for Crisis Escalation,” “Five Board Questions for AI Risk,” “Culture as a Control.”
Categories
Hill Country Authors

Hill Country Authors Podcast – Exploring Texas Tales: Cynthia Leal Massey’s Journey, Writing Process, and Historic Inspirations

Welcome to a new season of the award-winning Hill Country Authors Podcast, sponsored by Stoney Creek Publishing. In this podcast, Hill Country resident Tom Fox visits with authors who live in and writes up the Texas Hill Country. In this episode, Tom Fox interviews Cynthia Leal Massey, a well-known author of both fiction and non-fiction.

Cynthia shares her journey of becoming a writer, beginning with her childhood fascination with reading biographies and continuing through her studies in creative writing in college. She discusses her deep-seated passion for Texas history and how it influences her work, particularly her latest book, ‘Well of Deception.’ Cynthia elaborates on her unconventional writing process, how she engages readers emotionally, and her transition from non-fiction to fiction. The conversation also touches on the intriguing real-life murder case that inspired ‘Well of Deception,’ her methods in capturing authentic dialogue and dialect, and her experience working with Stoney Creek Publishing. Additionally, Cynthia previews her upcoming project about the Van Riper family, further delving into Texas’s rich history.

Key highlights: 

  • Cynthia’s Journey to Becoming a Writer
  • Passion for Texas History
  • The Story Behind ‘Well of Deception’
  • Writing Process and Techniques
  • Publishing Experience with Stoney Creek Publishing
  • Blog and Research Insights

Resources:

Pre-Order Well of Deception on:

TamuPress

Amazon

Stoney Creek Publishing

Follow Cynthia Leal Massey on:

Facebook

LinkedIn

Instagram

Stoney Creek Publishing Profile

Website: www.cynthialealmassey.com

Podcast Cover Art

Nancy Huffman Fine Art

Tom Fox

Instagram

Facebook

YouTube

Twitter

LinkedIn

Categories
AI Today in 5

AI Today in 5: September 17, 2025, The What Are They Building Episode

Welcome to AI Today in 5, the newest edition to the Compliance Podcast Network. Each day, Tom Fox will bring you 5 stories about AI, so start your day, sit back, enjoy a cup of morning coffee, and listen in to the AI Today In 5, all from the Compliance Podcast Network. Each day, we consider four stories from the business world, compliance, ethics, risk management, leadership, or general interest related to AI.

Top AI stories include:

  • Workfusion raises $45 MM for financial crime compliance. (PYMNTS)
  • Smarter surveillance. (FinTech Global)
  • New AgenticAI compliance solutions. (Channel Insider)
  • Closing the AI divide. (ICC)
  • What are AI companies trying to build? (NYT)

For more information on the use of AI in Compliance programs, my new book, Upping Your Game. You can purchase a copy of the book on Amazon.com.

Categories
Daily Compliance News

Daily Compliance News: September 17, 2025, The Talking Bad 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 in to the Daily Compliance News. All, from the Compliance Podcast Network. Each day, we consider four stories from the business world, including compliance, ethics, risk management, leadership, or general interest, relevant to the compliance professional.

Top stories include:

  • Corruption leads to a food crisis in South Sudan. (The Hill)
  • Power to CEOs. (FT)
  • Trump says you can’t talk badly about me. (Palm Beach Post)
  • U.S. National Highway Traffic Safety Administration opens probe into Tesla Model Y cars over door handle failures. (Reuters)