In this episode of The Ethics Experts, Nick welcomes Daniel Ayala, chief information security officer, chief privacy officer, managing partner, and founder of MentorCore, to the show.
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Welcome to the Great Women in Compliance Podcast, co-hosted by Lisa Fine and Mary Shirley.
Today’s guest is another Compliance professional that Mary met through volunteering with Compliance Career Connection (CCC). CCC was formed in the fall of 2020 as a support system for peers in the difficult position of seeking new employment during the pandemic. It is a group that runs at least monthly events encompassing an activity to help exercise skills required in the job search process. Jared Knapp is also on the CCC leadership team and a trade governance expert. He joins Mary in this bonus episode to discuss respect and dignity in the Compliance hiring process. As Ethics and Compliance professionals, isn’t the onus on us to act ethically when building out our teams? Jared and Mary think so and outline some of the common grievances job seekers are facing.
The discussion focuses on broken aspects of the hiring process and what Jared envisages can be done to make the experience an overall better one for candidates, as well as one that Ethics and Compliance professionals can be proud to be associated with. He also shares some trade sanctions wisdom to close out the day’s discussion.
The Great Women in Compliance Podcast is on the Compliance Podcast Network with a selection of other Compliance related offerings to listen in to. If you are enjoying this episode, please rate it on your preferred podcast player to help other likeminded Ethics and Compliance professionals find it. You can also find the GWIC podcast on Corporate Compliance Insights where Lisa and Mary have a landing page with additional information about them and the story of the podcast. Corporate Compliance Insights is a much appreciated sponsor and supporter of GWIC, including affiliate organization CCI Press publishing the related book; “Sending the Elevator Back Down: What We’ve Learned from Great Women in Compliance” (CCI Press, 2020).
As always, we are so grateful for all of your support and if you have any feedback or suggestions for our 2021 line up or would just like to reach out and say hello, we always welcome hearing from our listeners.
We welcome any feedback you may wish to send in to gwicpod@gmail.com.
You can subscribe to the Great Women in Compliance podcast on any podcast player by searching for it and we welcome new subscribers to our podcast.
Join the Great Women in Compliance community on LinkedIn here.
Compliance into the Weeds is the only weekly podcast which takes a deep dive into a compliance related topic, literally going into the weeds to more fully explore a subject. This week Matt and Tom take a deep dive into the SEC enforcement involving Pearson. Some of the issues we consider are:
- How can a failure to disclose lead to a SEC violation?
- What were the disclosure controls and procedures failures?
- How is patch management a critical part of cybersecurity?
- What were the misleading statements made by Pearson?
- What are the lessons learned?
- What is the role of compliance?
Resources
Matt in Radical Compliance
SEC Schools Pearson on Cyber Disclosure Failures
The Compliance Life details the journey to and in the role of a Chief Compliance Officer. How does one come to sit in the CCO chair? What are some of the skills a CCO needs to success navigate the compliance waters in any company? What are some of the top challenges CCOs have faced and how did they meet them? These questions and many others will be explored in this new podcast series. Over four episodes each month on The Compliance Life, I visit with one current or former CCO to explore their journey to the CCO chair. This month, my guest is Kortney Nordrum, Regulatory Counsel and Chief Compliance Officer at Deluxe. In this Part 2, she talks about her move to DC with her now hubby, where Nordrum worked for Freddie Mac Technology Consultant on the team that reverse engineered the software at Freddie Mac to be SOX compliant. In this role, Nordrum learned the basics of SOX requirements. She then went to law school and studied abroad in Israel at Bar Ilan University. In law school she became interested in Animal Law and decided she wanted to be an animal lawyer. She left MN to head to NYC and Big Law, quickly realizing it did not fit with who she is, so she moved back to MN.
The Kitchen reviews a recent seizure by the DOJ of a tanker used for illegal shipments into North Korea.
Dennis Kucinich is a career politician who has worked at the municipal, state, and federal levels and is joining Tom Fox on the Innovation in Compliance to talk about his newest book Division of Light and Power. This book is a story of corporate espionage, corporate sabotage, bank extortion of a city, and a mob-directed assassination plot that took place in Cleveland back in the 70s when Dennis was the mayor at only 31-years-old.
What Happened in Cleveland
In Cleveland in the 1970s, there were two electricity companies: Munilight, a public company, and Cleveland Electric Illuminating Co, a private company. The municipal company was able to provide cheaper electricity to citizens of the city, and so became the target of an aggressive sabotage campaign on the part of CEI, so they could acquire the utility and have a monopoly on power in the city. They succeeded. As Mayor of Cleveland, Dennis tried to block the acquisition and became the target of a mob-directed assassination plot. Tom makes the point that issues like this are still happening, mentioning the recent Texas blackouts during a winter storm which were caused by negligence, incompetence, or criminal activity.
The Role of the Media
This was possible, in large part because of the complicity of the media. CEI had a massive advertising budget, and no qualms about bribing or otherwise “softening up” city council members to discredit Munilight. Tom points out that the press has a huge role in anti-corruption activities and asks Dennis how the media failed to examine the governance of the city of Cleveland, and Dennis responds that “he who pays the piper calls the tune.” The media was subverted to CEI’s agenda, and reporters who went against the party line were fired.
Accountability in Government
Tom and Dennis discuss the fact that government works – the question is who does it work for? Dennis says that if citizens want the government to be working for them, they have to keep their representatives honest by asking questions, demanding explanations, and refusing to be silent when something seems off. Otherwise, you are at the mercy of officials using their power to make a buck.
How to be Incorruptible
Tom asks Dennis what made him able to resist literal suitcases full of cash when they were offered to him, and Dennis says there is a Crosby Stills, Nash song called Teach Your Children with a line that goes: You, who are on the road, must have a code, that you can live by.” Dennis shares what his code is: an inner moral compass that is a simple understanding of what’s right and what’s wrong. He believes that when you do wrong, you pay for it, and that by leading a decent and moral life where you don’t need to worry about what you did or said – that’s an easy way to live: with a light heart.
Resources:
Division of Light and Power
Crosby, Still and Nash, “Teach Your Children”
The RIA Wild West of Going Independent
In this episode, CSS’s Director of Retail Wealth Manager Services, Korrine Kohm and Founder of Transition To RIA, Brad Wales discuss the path to becoming an independent registered investment adviser, best practices to get started on your journey and compliance pitfalls to avoid.
About Our Guest Speakers:
Korrine Kohm is CSS’s Director of Retail Wealth Manager Services. Prior to CSS, Korrine was the Chief Compliance Officer and Head of Operations at Estabrook Capital Management where she was responsible for all compliance functions of this SEC-registered, $2.1B investment advisory firm. Korrine began her regulatory career while working at Allied Irish Bank (NY) in the Operations Department where she was a key member of AIB’s Compliance Committee, responsible for ensuring compliance with Federal and State regulations. An active member of the National Society of Compliance Professionals for over 10 years, Korrine earned her Investment Adviser Certified Compliance Professional (IACCPTM ) designation in 2006, is a member of the Association of Certified Fraud Examiners, and obtained her Certified Fraud Examiner designation. In addition to her experience in compliance and banking, Korrine began the 16-week intensive training course in Quantico, Virginia, to become a Special Agent with the Federal Bureau of Investigation. She has particular experience in crafting customized policies and procedures, developing and implementing compliance programs, conducting on-site compliance reviews, acquisition due diligence reviews, risk assessments and mock SEC examinations. She routinely counsels clients on various regulatory matters, including SEC registration issues, social media and advertising, policies related to diminished financial capacity, disclosures and the annual review process.
Brad Wales is the founder of Transition To RIA, a consulting firm uniquely focused on helping established financial advisors understand everything there is to know about WHY and HOW to transition their practice to the RIA model. Brad utilizes his nearly 20 years of industry experience, including direct RIA related roles in compliance, finance and business development to provide independent advice regarding how advisors can benefit from the advantages of the RIA model.
The Kitchen takes a look at the UK’s Financial Action Task Force Guidance on Proliferation Financing Risk Assessment and Mitigation.