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12 O’Clock High-a podcast on business leadership

Leadership Lessons from Casablanca


Richard Lummis and I are back. Today, begin our annual review of Oscar winning Best Pictures and the leadership lessons drawn from them. Over the next four weeks we will consider the following movies: Casablanca, Rocky, The Greatest Show on Earth and Out of Africa. Today, we begin our series with one of the very all-time greats, Casablanca.
Highlights of this podcast include:

  1. What are our favorites scenes from the movie?
  2. What is the world view from Casablanca, including actions and behaviors, values and belief systems and stories of life?
  3. What are the leadership lessons from the nobility of Rick Blaine?
  4. What can you learn from one of the movie’s greatest lovers?
  5. What does compassion help in leadership?
  6. Do these lessons hold up today?

Resources
Roundup the Usual Suspects for Leadership Lessons
Leading from the Lover Archetype: Rick Blaine
Casablanca and the Four Levels of Worldview
Casablanca Lessons

Categories
Trekking Through Compliance

Picard-Episode 2, Maps and Legends


Welcome to a special series of Trekking Through Compliance, the podcast series inspired by my review of Star Trek, the Original Series. In this special series I am joined by another uber Star Trek maven, Megan Dougherty. In this series we will review the new television show Picard which is currently streaming on CBS.
SPOILER ALERT-Although we will review each episode after it appears, we will discuss each episode in depth.
Episode 2, Maps and Legends. A flashback shows a normal day on Mars Utopia Planitia Shipyards followed by the deadly attack on Mars 14 years ago by the synthetics. Following Dahj’s death, Picard seeks to track her twin Soji down. With the help of Laris, he investigates Dahj’s apartment and finds the place completely scrubbed. Laris suggests that the assassins may have been part of the Zhat Vash, an organization even more secretive than the Tal Shiar that holds a deep-rooted hatred of synthetics. At the Romulan reclamation site, a relationship between Soji and Narek is flourishing. Picard appeals to Starfleet for a ship but is denied by Admiral Kirsten Clancy. Picard attempts to assemble his own crew, inviting Agnes Jurati and the estranged Raffi Musiker. Meanwhile, Clancy informs Commodore Oh of Picard’s request and asks her to look into it. Oh notifies the (secretly Romulan) Lt. Rizzo to have her undercover operative “stay on mission”. Via holo-communicator, Rizzo speaks to Narek, her operative and brother. Rizzo warns Narek that if he does not persuade Soji to reveal the location of other synthetics, she would be forced to take more extreme measures.
Highlights include: 

  1. Is Picard mentally fit to go into space?
  2. How did the Romulans infiltrate Star Fleet leadership?
  3. Does Picard think the Romulans have breached Star Fleet security?
  4. What about the tech?
  5. What are the ethics around the Borg reclamation project?
  6. What was the former relationship between Picard and Raffi?
Categories
Daily Compliance News

February 13, 2020, the Hesiod edition


In today’s edition of Daily Compliance News:

  • Puerto Rican bank to pay fine for laundering PdVSA money. (WSJ)
  • Ex-Pemex boss arrested on corruption changes. (FT)
  • UK to require pensions to disclose climate change plans. (WSJ)
  • What was the world’s first milestone in economics? (NPR)
Categories
ComplianceLIVE

ComplianceLIVE Episode 12: Get to Know Sanction Screening with Karan and Lucaya

Amanda is joined by “The Voice of ComplianceLine” Lucaya Brown and OG SanctionChat diva Karan Robinson to discuss sanction screening in the workplace.
Listen to the episode:

EPISODE NOTES

Want to see how SanctionCheck works?  Check out our series of webinars:
https://www.gotostage.com/channel/sanctioncha
Check out more episodes and full episode videos at ComplianceLine.com, and don’t forget to subscribe on your favorite podcast platform!
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31 Days to More Effective Compliance Programs

Executives Compensation and compliance incentives


A 2015 New York Times article by Gretchen Morgenson, entitled “Ways to Put the Boss’s Skin In the Game”, dealt with a long-standing question about how to make senior executives more responsible for corporate malfeasance? Her article had direct application to compliance programs and compensation for senior management tied to compliance. Morgenson said the issue was “Whenever a big corporation settles an enforcement matter with prosecutors, penalties levied in the case – and they can be enormous – are usually paid by the company’s shareholders. Yet the people who actually did the deeds or oversaw the operations rarely so much as open their wallets.”
She went on to explain the economic phenomenon of “perverse incentives” wherein executives are encouraged to take excessive risk because they can profit so much from them, all the while knowing they probably won’t have to pay any fines or face other costly consequences of their actions. To help remedy this situation, the idea has come to the fore about senior managers putting some “skin in the game.
Three key takeaways:

  1. Perverse incentives are named that for a reason; they really are bad.
  2. How can you create positive incentives in your organization?
  3. There is a business response to the legal issue. Employ it.
Categories
Great Women in Compliance

#GWIC Wins


Welcome to the Great Women in Compliance Podcast, co-hosted by Lisa Fine and Mary Shirley. In this Episode 50, Mary Shirley and Lisa Fine sit down together for a very special episode.
After getting the chance to speak together about the best professional advice that listeners had ever received at the end of the year, Lisa and Mary received some great feedback from listeners.  Some of the responses were about achievements of our community, and we took that feedback and decided to team up again in this latest episode which is all about celebrating in the “wins” experienced by listeners of the podcast who have taken the insight of our guests and people in the podcast community and moved their careers and/or professional development forward..
All of the feedback that Mary and Lisa receive, positive or negative, is important in developing the GWIC podcast and community.  But there is nothing that brings more joy and pride than when they hear about how the podcast has resulted in favorable outcomes for their guests and listeners.  This episode is a way to share that joy with all listeners and celebrate in the achievements of others.  Because when one of us does well, collectively all of our boats rise.
Listen in to hear about the personal journeys of the listeners with the stories they have submitted and the feedback provided by guests.  Lisa and Mary cap off the episode by sharing how hosting the podcast has touched each of their lives.  You’ll also have the chance to hear how to snag yourself a huge Compliance Week professional development opportunity as one of the podcast’s valued listeners!
Join the Great Women in Compliance community on LinkedIn here.

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Compliance Into the Weeds

Hogan Lovells Report on Compliance Budgets


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 we take a deep dive into recent Hogan Lovell’s report High Seas: Steering the Course II Navigating bribery and corruption risk in 2020. We conclude with a special tribute to Bernie Ebbers and his role in creating the modern compliance professional.
Some of the highlights include:

  • What do the survey results say about the direction of compliance function spending?
  • Can companies manage risks in emerging markets when compliance spending is decelerating?
  • Technology can improve compliance efficiency but it can also improve compliance evasion.
  • Will CCOs be able to interpret data from ComTech tools?
  • What are the implications for the compliance discipline and CCO?

Resources
Hogan Lovell’s report High Seas: Steering the Course II Navigating bribery and corruption risk in 2020, click here.
Matt Kelly blog post, Compliance Resources Getting Tighter

Categories
Daily Compliance News

February 12, 2020, the Trump Orders DOJ edition


In today’s edition of Daily Compliance News:

  • Trump orders DOJ reduce sentence recommendation on Roger Stone. (WSJ)
  • FTC expands investigation into Big Tech. (WSJ)
  • FED watching coronavirus risk, Trump says there is no risk. (WSJ)
  • New Wells Fargo CEO makes structural changes to prevent more fraud. (WSJ)
Categories
Innovation in Compliance

Reimagining Data Privacy with Ray Pathak


Ray Pathak is the COO of Nymity, which was recently acquired by TrustArc. He chats with Tom Fox about the acquisition and how his company is reimagining privacy.

A Powerful Combination
Nymity and TrustArc have been in the compliance space for a combined 40 years. Nymity has research expertise, and TrustArc is versed in automation and technology. The companies coming together with their complementary skills have created something powerful and special in the marketplace.
Reimagining Privacy
Tom asks Ray to expand on its catchphrase, ‘Reimagining Privacy’. It’s about providing data intelligence within the compliance solution, Ray responds, so that companies can do more with less. “We want to empower organizations to understand their data better and by understanding it, be able to do more with their data.” He calls this ‘unleashing the data’.
The wait-and-see approach used by so many companies is a failure waiting to happen, Ray argues. It may solve the problem of today, but it’s not viable long-term because you would have to start from scratch each time a new law comes out. He advocates a more proactive, take-control approach: build out a comprehensive privacy program so when a new law comes out you’re just tweaking your program instead of creating a whole new one.
Embedding four layers of research within their tools so that information is available to clients when they need it, makes Nymity’s solution different from other solutions on the market. Ray goes on to explain how this process brings privacy intelligence to their clients, saving them valuable time. Their comprehensive framework containing 139 different technical and organizational measures, grouped into 13 categories, and mounted to over 900 local and international laws allows clients using the framework to build out their data privacy program to comply with many laws.
Future Trends
Tom asks Ray to comment on the top issues in data privacy for 2020 and beyond. Ray responds that the first issue is the impact laws like CCPA will have. More states are coming out with privacy laws, likely to be more comprehensive than CCPA, he predicts. The second issue he talks about is making data privacy easier for people. Privacy is becoming more complex, but their privacy intelligence tool makes it more accessible for clients. Thirdly, he says that by combining technology with research, his company is helping to provide insights to organizations with their solution.
Resources
Nymity.com
TrustArc.com

Categories
Daily Compliance News

February 11, 2020, the Dark Arts edition


In today’s edition of Daily Compliance News:

  • Chinese military officers charged in Equifax hack. (NYT)
  • Andrew Hill on why Bernie Ebbers is more relevant today. (FT)
  • Of dark arts and codebreakers. (WSJ)
  • Panama Papers nets first tax evasion guilty plea. (WSJ)