Categories
Great Women in Compliance

Great Women in Compliance – Neta Meidav on Bridging the Trust Gap

In this week’s episode, Hemma visits Neta Meidav to discuss bridging the trust gap with innovative technology and the power of women entrepreneurs in the ethics and compliance space. Neta is a visionary entrepreneur and CEO co-founder of Vault Platform, an impact-driven company disrupting outdated workplace misconduct reporting and resolution models.

Highlights include: 

  • Bridging the trust gap by focusing on the employee experience
  • Building impact and values into the DNA of a product
  • How to proactively prevent and detect misconduct using AI and disruptive technologies
  • The role of women founders and entrepreneurs in ethics and compliance
  • The release of #ethicschat by Vault – revolutionizing compliance knowledge management 

Biography:

Neta is the Founder and CEO of Vault Platform. She founded Vault to modernize ethics and compliance and create more equitable, safe, and ethical workplaces worldwide. Neta was recently named one of Inc. Magazine’s Female Founders 200.

Before founding Vault, Neta worked for over a decade in the UK Government as a climate change negotiator and participated in the Paris Climate Agreement. Alongside leading Vault, Neta is on a mission to promote female founders in tech and spends time coaching and helping her fellow female founders who are earlier on their journey.

Resources:

www.vaultplatform.com

Press Release on the launch of #ethicschat by Vault 

Thanks to our sponsor, Corporate Compliance Insights, and the wonderful #GWIC community.  You can join the Great Women in Compliance community on LinkedIn here.

Categories
Blog

Rethinking the Employee Experience from the Compliance Perspective

In today’s competitive labor market, retaining top talent is more than just a human resources challenge but a compliance priority. This is one insight from the Harvard Business Review article, What Companies Get Wrong About the Employee Experience. In this piece, the authors outline actionable lessons and steps that compliance professionals can integrate to enhance ethical culture, reduce turnover risks, and strengthen compliance outcomes. Here’s how reimagining the employee experience aligns with robust compliance strategies.

The Intersection of Employee Experience and Compliance

The article emphasizes that many organizations must offer gratifying work experiences, leading to attrition and disengagement. For compliance professionals, these failures are alarming. Disengaged employees are less likely to follow compliance protocols, report concerns, or participate in ethical initiatives. High turnover amplifies this risk by disrupting organizational knowledge and weakening cultural consistency.

Every compliance professional understands that a well-designed employee experience fosters trust, transparency, and ethical alignment, all of which are critical for a strong compliance program. The Department of Justice (DOJ) also recognizes this. In the Monaco Memo, the DOJ pointed to corporate culture as a key indicator of an effective, operationalized compliance regime. In the 2024 Evaluation of Corporate Compliance Programs (ECCP), the DOJ further clarified its expectations in this area of compliance.

The Push and Pull of Employee Retention

While it should be discussed more, every corporate compliance function should thoroughly consider this issue of employee retention. The 2024 reiterated the DOJ position that the compliance function is the keeper of both Institutional Fairness and Institutional Justice and from these precepts, it is a clear entry point into compliance. The article identifies two forces driving employee departures and retention.

  • Push Factors are negative experiences, such as lack of trust, feeling undervalued, or toxic management. Push Factors can lead to ethical breaches, as disengaged employees may cut corners or fail to report misconduct.
  • Pull Factors. These provide employees with opportunities for alignment, flexibility, and personal growth. Pull Factors emphasize the need for a compliance-driven culture that aligns personal values with organizational integrity.

For the compliance professional, you must mitigate push factors by fostering a supportive, ethical environment and amplify pull factors by offering meaningful growth opportunities tied to compliance goals. It all starts with a true culture of speaking up and listening up. If employees feel they can safely speak up with no fear of retaliation and that their concerns will be heard, it can lead to more employee opportunities.

Proactive Compliance Strategies for Employee Engagement

What are some additional strategies for employee engagement? The authors recommend three transformative approaches to improve employee experiences, which also strengthen compliance initiatives:

  • Interview Employees Early and Often

Waiting until an exit interview is a missed opportunity. You should interview employees throughout the employment life cycle, from employment interviews and onboarding through the entire employment life. Compliance leaders should adopt proactive listening to understand and address employee concerns about ethical culture and workplace practices. Middle managers should be trained on not only how to accept information through a Speak Up culture but, equally importantly, how to Listen Up.

Another strategy could be to conduct regular “ethical climate surveys” to gauge employee sentiment about compliance. One example is the Culture AuditÔ developed by Sam Silverstein and his Accountability Institute. Whatever tool you might utilize, you should use the insights you obtain to refine training programs and policy enforcement.

  • Develop “Shadow” Job Descriptions

Traditional job descriptions often overlook the ethical dimensions of roles. I mentioned above how compliance can work to improve employee engagement as early as the interview process. You can also work to create “shadow” descriptions that highlight compliance responsibilities, ensuring employees understand the ethical expectations tied to their positions. The compliance function can collaborate with HR to embed compliance duties, such as reporting obligations and ethical decision-making, into all job descriptions. You can begin communicating these expectations during the hiring process, then the onboarding process and regular evaluations.

  • Collaborate with HR to Align Roles with Progress

Flexibility in role design helps employees see a clear path for ethical growth within the organization, reducing the risk of disengagement. The DOJ has made both financial and non-financial incentives an essential part of every compliance program. This means compliance should partner with HR to create rotational programs that expose employees to compliance-related functions. The clear message at your organization should be that there are ethical leadership opportunities in your company that operate as a pathway to career advancement.

Leveraging Technology to Enhance Compliance and Employee Experience

While most compliance professionals only think about data, advanced analytics, and AI-driven tools in the context of transaction analysis, these tools are transforming how organizations approach employee engagement. For compliance teams, these technologies offer dual benefits. You can use real-time monitoring to track compliance, training participation, and ethical climate indicators. Moreover, analytics, such as sentiment analysis, identify areas of concern or disengagement that may correlate with compliance risks. You should deploy data analytics and AI-based or enhanced tools that flag anomalies in training completion rates or whistleblower program usage, enabling timely interventions.

 Building an Ethical Culture Employees Rehire Daily

The bottom line is that you are asking employees to choose to do business ethically and in compliance. Your ultimate goal is to create a workplace where employees actively select daily. Your organization is where compliance is a shared value rather than a mandate. Achieving this requires multiple and continuous steps. One is continuous dialogue to keep communication channels open to reinforce ethical values. When information shows anomalies forming or detected, you should create a targeted action plan to act on feedback to demonstrate commitment to improvement swiftly. Finally, data, key performance indicators, and other transparent metrics should be used to share progress on employee experience and compliance outcomes.

The Compliance-Employee Experience Connection

The employee experience is not just a human resources initiative but a cornerstone of effective compliance. Compliance professionals can build a resilient, ethical workplace by addressing the factors that drive employee satisfaction and retention. This isn’t just about preventing turnover; it is about creating a culture of trust and integrity that empowers employees to champion compliance. By integrating these principles into your compliance strategy, you retain top talent and fortify the ethical foundation that supports sustainable success.

Call to Action

How is your compliance program enhancing the employee experience? It is time to reimagine the intersection of ethics, culture, and engagement to create lasting value for your organization.

Categories
Compliance Tip of the Day

Compliance Tip of the Day – Boards and Operationalizing Compliance

Welcome to “Compliance Tip of the Day,” the podcast where we bring 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, we aim to provide bite-sized, actionable tips to help you stay on top of your compliance game. 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.

Your Board must work to operationalize compliance at all levels of your organization entirely.

For more information on the Ethico Toolkit for Middle Managers, available at no charge, click here.

Check out the full 3-book series, The Compliance Kids, on Amazon.com.

Categories
Daily Compliance News

Daily Compliance News: December 3, 2024 – The Under Pressure 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: compliance, ethics, risk management, leadership, or general interest for the compliance professional.

  • Climate COP and the art of the deal. (FT)
  • Rubio says trade sanctions are coming on China. (WSJ)
  • Tesla lost the case on the 2nd Musk pay package. (WSJ)
  • Do your passwords meet new federal guidelines?  (WSJ)

For more information on the Ethico Toolkit for Middle Managers, available at no charge, click here.

Check out the full 3-book series, The Compliance Kids, on Amazon.com.

Categories
Innovation in Compliance

Innovation in Compliance – Navigating Compliance and Innovation with Colin Darke

Innovation comes in many forms, and compliance professionals need to be ready for it and embrace it. Join Tom Fox, the Voice of Compliance, as he visits with top innovative minds, thinkers, and creators in the award-winning Innovation in Compliance podcast. In this episode, host Tom Fox visits with Colin Darke, an attorney and compliance professional with a diverse career spanning over twenty years.

Colin shares his journey from banking and finance law to in-house compliance roles, eventually co-founding CompliSun, an AI-enhanced compliance management system. Colin discusses his experience handling regulatory challenges, building compliance programs from scratch, and innovating within fintech. He also delves into his book ‘Unleashing Innovation: Compliance Strategies for FinTech Disruptors,’ which offers practical guidance for compliance professionals. Additionally, Colin explores his dual passion for art, explaining how being an artist has contributed to his mental well-being and professional success. Listeners will gain valuable insights into integrating AI in compliance, effective training techniques, and the importance of creating a strong compliance narrative for regulators.

Key highlights:

  • Colin Darke’s Professional Journey
  • Authorship and Book Insights
  • CompliSun: AI-Enhanced Compliance
  • Regulated vs. Non-Regulated Industries
  • AI Revolution in Compliance
  • Art and Compliance: A Unique Intersection

Resources:

Colin Darke on LinkedIn

CompliSun

Unleashing Innovation-Compliance Strategies for Fintech Disruptors

Tom Fox

Instagram

Facebook

YouTube

Twitter

LinkedIn

Categories
Blog

Compliance Lessons Learned: Building Meaningful Workplace Connections

In today’s business environment, compliance professionals are often praised for their pivotal role in fostering ethical, sustainable, and resilient corporate cultures. A recent HBR article, What Employers Get Wrong About How People Connect at Work, provides a compelling framework that compliance officers can integrate into their strategies to strengthen organizational integrity and trust.

The authors believe that connections in the workplace are commonly thought of as a single dimension that prioritizes interpersonal relationships with co-workers. However, the authors have identified that connections in the workplace are made up of four interrelated and essential elements: employee connections with their colleagues, leader, employer, and role. This more accurate and nuanced view of workplace connections has implications for how organizations can design intentional talent strategies to create workplaces where employees are committed, engaged, and performing. They introduce the CLEAR framework to help facilitate transformative workplace lessons. I have adapted their ideas for the compliance professional.

  • Colleague Connection: Compliance as a Collaborative Endeavor

In compliance, collaboration is non-negotiable. The CLEAR framework emphasizes the importance of trust and mutual support among colleagues, a principle that extends seamlessly into compliance programs. When employees feel connected to their peers, they are more likely to share insights and raise concerns, a cornerstone of effective whistleblowing mechanisms. For compliance professionals, this means building platforms and safe spaces for employees to collaborate. Initiatives like ethics roundtables or cross-departmental compliance champions can foster peer-to-peer connections, encouraging the open exchange of ideas and concerns about compliance issues.

  • Leader Connection: Ethical Leadership in Action

The article identifies leader connection as a key factor, noting that 70% of the variance in team engagement is attributed to managerial quality. For compliance professionals, this underscores the need for leadership at all levels to embody ethical conduct. Leaders who communicate, provide constructive feedback, and model ethical behavior are indispensable in embedding compliance into an organization’s DNA. You should work to train your business leaders to be compliance ambassadors. This means both senior managers and middle managers as well. Equip them with tools to integrate compliance into their everyday leadership practices, from reinforcing training to discussing real-world ethical dilemmas with their teams.

  • Employer Connection: Aligning Compliance with Corporate Values

A strong employer connection, where employees see their work as meaningful and aligned with organizational goals, is critical. Compliance professionals are central in shaping this narrative by linking ethical practices to the company’s mission. When employees view compliance as an enabler of corporate success rather than a hindrance, their engagement deepens. Positioning compliance as a competitive business advantage and using internal communications to highlight how ethical practices contribute to the organization’s reputation, financial health, and long-term success will further align your employees with your overall goal of doing business ethically and in compliance.

  • Role Connection: Engaging Through Purpose

Role connection thrives when employees find satisfaction in their work and see clear pathways for growth. Compliance means integrating ethical considerations into individual roles and responsibilities. Employees who understand how their job contributes to the company’s compliance goals are likelier to take ownership of ethical behavior. Here, your compliance team should work to tailor compliance training to individual roles. Move beyond generic programs to create targeted, role-specific training that shows employees how compliance intersects with their day-to-day responsibilities.

  • CLEAR Connections and the Return-to-Office Debate

The authors critique a narrow focus on colleague connections in return-to-office mandates, warning that neglecting other CLEAR elements can undermine employee engagement. For compliance teams, this presents a nuanced challenge. Remote work can dilute compliance oversight, but rigid in-office policies may harm trust and morale. This will allow your compliance function to adopt flexible compliance monitoring strategies. Use technology to maintain oversight while respecting diverse work arrangements and ensure employees feel trusted and supported regardless of where they work. 

  • The Patchwork Principle: Balancing Connection Needs

The authors propose the “patchwork principle,” urging leaders to adopt a portfolio of policies that reflect employees’ diverse connection preferences. Compliance teams can take inspiration from this approach to design policies that address various needs while ensuring alignment with regulatory requirements. The DOJ has long clarified that your compliance program should be based on your company’s compliance risks. This means you should customize your compliance program. Consider employee demographics, cultural nuances, and risk profiles when designing policies and procedures, ensuring they resonate across the organization.

Final Thoughts: CLEAR Insights for Compliance Success

The CLEAR framework challenges compliance professionals to think beyond policies and procedures, emphasizing the human connections that underpin ethical behavior. By fostering meaningful relationships across these four pillars, compliance leaders can build a culture that adheres to regulations and thrives on trust, engagement, and integrity.

Incorporating these lessons is not simply about compliance but redefining how organizations connect, collaborate, and succeed. By adopting these principles, compliance professionals can lead the way in creating workplaces that are not only compliant but also connected and committed to excellence.

Categories
Compliance Tip of the Day

Compliance Tip of the Day – Compliance Obligation for Boards

Welcome to “Compliance Tip of the Day,” the podcast where we bring 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, we aim to provide bite-sized, actionable tips to help you stay on top of your compliance game. 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, we begin considering Board obligations around compliance.

For more information on the Ethico Toolkit for Middle Managers, available at no charge, click here.

Check out the full 3-book series, The Compliance Kids, on Amazon.com.

Categories
Daily Compliance News

Daily Compliance News: December 2, 2024 – The Committed to Compliance 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: compliance, ethics, risk management, leadership, or general interest for the compliance professional.

For more information on the Ethico Toolkit for Middle Managers, available at no charge, click here.

Check out the entire 3-book series, The Compliance Kids on Amazon.com.

Categories
Corruption, Crime and Compliance

LRN’s Code of Conduct Survey

Have you ever wondered how different cultures and generations engage with a company’s code of conduct? Do employees across the globe really follow ethical guidelines in the same way, or are there stark contrasts depending on where they are and what they do? In this episode of Corruption, Crime & Compliance, Michael Volkov explores LRN’s latest Code of Conduct Report, which reveals vital benchmarks and trends that can help companies strengthen their ethics and compliance programs. As LRN consistently provides high-quality insights on ethics and compliance, this episode dives deep into the findings that highlight how the code of conduct can serve as the cornerstone of a company’s ethics culture—if used effectively.

You’ll hear him discuss:

  • How the usage of codes of conduct differs across geographic regions, with India, China, and Australia showing the highest engagement rates.
  • The surprising statistic that 35% of employees in the Netherlands reported never consulting their company’s code of conduct.
  • The impact of training, with countries like China and India seeing the highest percentage of employees trained on their code of conduct.
  • The generational divide, with Gen Z employees consulting their codes of conduct more than Baby Boomers, despite prior reports suggesting Gen Z’s tendency to bend rules.
  • The significant gap in perceptions of code usage between senior leaders, middle managers, and frontline employees.
  • The role of hybrid work in fostering higher engagement with codes of conduct, contrary to the common assumption that remote work leads to disengagement.

Resources

Michael Volkov on LinkedIn | Twitter

The Volkov Law Group

Categories
Career Can D0

From Family Dream to a Lasting Legacy with Jessica Levine

How do you turn a family dream into a thriving business? On this episode of Career Can Do, Jessica Levine shares the inspiring story of Jonathan’s The Rub, a Houston-based restaurant group started by her father. As Director of Operations, Jessica reflects on how their journey began with a small catering business and grew into a beloved local restaurant chain with multiple locations.

Jessica’s passion for the restaurant industry began early, working alongside her father at just 12 years old. “I always say I grew up in the business,” she says, recalling how those early experiences shaped her career. After college, she joined her father to help grow the business, opening their first small restaurant with just seven tables. From there, Jonathan’s The Rub expanded into a Houston favorite, earning awards like the Ed Wolf Economic Development Award. But it wasn’t always smooth sailing—Jessica explains how they adapted through challenges like the pandemic while staying true to their values. “You have to embrace the chaos. It’s a rollercoaster, but that’s where growth happens.”

For Jessica, the heart of their success lies in creating a “third place” for the community—a welcoming space where guests feel at home and everything is made from scratch with care. “It’s not just about the food; it’s about the experience and the relationships we build,” she shares. Her advice for others? Follow your passion, be prepared for ups and downs, and focus on building meaningful connections.

This episode is an inspiring look at how hard work, resilience, and dedication can transform a family vision into a lasting legacy.

Resources

Jessica Levine on Jonathan’s The Rub | Jonathan’s The Rub Instagram

Mary Ann Faremouth on Web | X (Twitter)