Categories
This Week in FCPA

Episode 200-the 200th Episode edition


As the lads fire up to celebrate their 200th show, they mourn the passing of John Prine, self-distancing Tom and Jay are back to consider some of the top compliance articles and stories which caught their eye this week.

  1. Mike Volkov with a two-part tribute to his great mentor, Stanley Sporkin. On Corruption Crime and Compliance, Part 1 and Part 2.
  2. How beliefs impact mindset. Linda Henman in CCI.
  3. Some coronavirus considerations. For Board, on the D&O Diary and from the front lines on the FCPA Blog.
  4. Stepping up your DD game during coronavirus. Jason Chang in the FCPA Blog.
  5. FINMA reports highlights AML risk. Jonathan Rusch in Dipping Through Geometries.
  6. Don’t be a Covidiot engaging in Covidocity. Matt Kelly in Radical Compliance. Tom and Matt take a deep dive in Compliance into the Weeds.
  7. Compliance Week announces finalists for Excellence in Compliance Awards. Round One and Round Two. Special congrats to Carrie Penman.
  8. Man update on COVID-19 and D&O Insurance. Kevin LaCroix on the D&O Diary.
  9. Be careful out there, the bad guys are watching. Ahsan Habib in Risk and Compliance Platform Europe.
  10. On Compliance and Coronavirus this week: Peter Eyre on navigating the choppy legal and regulatory waters; Eric Feldman on the importance of culture assessments during COVID-19; Mike Cherkasky on why coronavirus truly is a crisis; Mary Shirley and Lisa Fine ruminate on their professional and personal lives.
  11. The Compliance Life premiers on the Compliance Podcast Network.
  12. On the Compliance Podcast Network, Tom concludes a month of looking at the role of innovation in compliance And opens a month of exploring continuous improvement, all on 31 Days to a More Effective Compliance Program. This week saw the following offerings: Monday-designing a process for continuous monitoring; Tuesday-Auditing of 3rd Parties; Wednesday-Continuous Improvement in Compliance; Thursday-the Compliance Audit;  Friday-Supply Chain audits. Note 31 Days to a More Effective Compliance Program now has its own iTunes channel. If you want to binge out and listen to only these episodes, click here. This month’s sponsor is Affiliated Monitors, Inc.

Tom Fox is the Compliance Evangelist and can be reached at tfox@tfoxlaw.com. Jay Rosen is Mr. Monitor and can be reached at jrosen@affiliatedmonitors.com.

Categories
Jamming with Jason

Companies Lag on Improving Risk Management and Climbing El Capitan with Joe McCafferty

A recently released study from the AICPA and NC State show that despite the constant drumbeat for improving and formalizing risk management processes, most organizations are still way behind in their efforts. When 60% agree the volume and complexity or risk have changed extensively over the last five years, and 65% of boards are call for “somewhat” to “extensively” increasing managment involvement in risk oversight, why aren’t more organizations on board with implementing ERM (only 34% have “mature” or “robust” oversight)? We’ll unpack the results of the study, discuss some of the reasons and implications this has on organizations, internal audit, and how to use ERM as a strategic advantage.
Jason Mefford is joined by Joseph McCafferty, Editor & Publisher of Internal Audit 360 who recently reported on this study in an article. https://internalaudit360.com/
You can access Joe’s article “Report: Companies Lad on Improving Risk Management” at https://internalaudit360.com/report-companies-lag-on-improving-risk-management-programs/

Jason Mefford is a Rock Star – Internal Audit, Risk Management and Compliance. He helps Chief Audit Executives (CAE) and professionals with technical & soft-skills training and coaching to navigate the mine fields of audit, risk and compliance in organizations. http://www.jasonmefford.com/ and http://www.meffordassociates.com
Apple Podcast: https://itunes.apple.com/us/podcast/jamming-with-jason-mefford/id1456660699
PodBean: https://jammingwithjason.podbean.com/

Categories
Why a Duck

COVID-19 and Compliance: Part 4-the Role of the CCO


In this five-part series, Mike Volkov and Tom Fox consider COVID-19 from a variety of angles and perspectives; from the Board of Directors, the CCO, the ethical company, new laws and regulations, crisis management and leadership. In this fourth episode, we consider the role of the Chief Compliance Officer and why compliance must step up to the corporate forefront to meet these challenges. Highlights from the podcast include:

  1.  Why compliance must NEVER sleep during the coronavirus crisis.
  2. What are some of the specific tactics a CCO can employ during the coronavirus crisis?
  3. What technological solutions can a CCO bring to bear?
  4. What time horizons are you considering?
  5. Why the COVID-19 crisis should force you to be creative?
  6. Why culture assessments are a key tool for a CCO during this crisis.
  7. How will enforcement view the coronavirus crisis three to five years from now?

Resources
Mike Volkov
Business Response
Tom Fox
Getting Started
Specific Tactics a CCO Can Employ
A Video Isn’t Just a Video
Eric Feldman on Culture Assessments During Coronavirus Crisis
According to Frank

Categories
31 Days to More Effective Compliance Programs

Financial health of third-parties


Continuous improvement can take many ways, shapes and forms. One thing that is most generally not considered is the financial health of the third-party. It turns out such an oversight may have some significantly ramifications for an accurate picture of a third-party. The financial health of third-parties is not only a key metric but also a key due diligence tool which allows a more robust assessment prior to contract signing and in managing the relationship after the contract has been signed.
Continuous improvement through monitoring of ongoing financial health is a tool where technological solutions can have an impact. Understanding the financial viability of third-parties can help the compliance practitioner meet the DOJ requirement to more fully operationalize a compliance program. It can also lead to more and better operational stability and with that ever-sought increase in corporate profitability. As compliance moves into the business process, this type of review should become part of your compliance toolkit going forward.
 Three key takeaways: 

  1. What is the financial health of your third-parties?
  2. Poor financial results can open a company to engaging in risky behavior.
  3. Financial health monitoring can be used as continuous improvement.
Categories
ComplianceLIVE

Fun-Size Episode 8: Staying Positive in this New COVID World


 

Amanda talks to ComplianceLive Pre-Production Lead, Account Management Associate, and all-around fun machine Michelle Zychowski from the comfort of her home office!  We discuss how to stay positive about work in the face of COVID-19.

 

 

Check out more episodes and full episode videos at ComplianceLine.com, and don’t forget to subscribe on your favorite podcast platform!

Categories
Daily Compliance News

April 9, 2020-the What’s a Phone edition


In today’s edition of Daily Compliance News:

  • Phone calls make a comeback (did they ever leave?). (NYT)
  • The end of WeWork? (WSJ)
  • DOJ drops inquiry into CHS over facilitation payments in Mexico. (WSJ)
  • A victim of coronavirus-Buffalo Wings. (Washington Post)
Categories
Compliance and Coronavirus

Mike Cherkasky on Testing Your Mettle During Coronavirus


Welcome to the newest addition to the Compliance Podcast Network, Compliance and Coronavirus. As the Voice of Compliance, I wanted to start a podcast which will help to bring both clarity and sanity to the compliance practitioner and compliance profession during this worldwide health and healthcare crisis. In this episode, I am joined by Michael Cherkasky, Executive Chairman and Head of Exiger Government Services. We discuss how the coronavirus health crisis will test the mettle of your organization and why the preservation of your human capital is job Number 1 for every compliance professional during this crisis.
For more information on Exiger, check out their website here.
This podcast is sponsored by SAI Global. To learn how you can protect your business operations and workforce during these uncertain times, visit saiglobal.com/risk for free resources, expert guidance, and industry-leading technology.

Categories
12 O’Clock High-a podcast on business leadership

Leadership Lessons from George Washington-Continental Congress and Constitutional Convention


Richard Lummis and Tom Fox continue our four-part series on leadership lessons from George Washington. We will look at lessons from Washington’s colonial and frontier period, focusing on the French and Indian War, leadership lessons from Washington’s generalship of the Continental Army, his leadership in both the Continental Congress and Constitutional Convention and we will end with leadership lessons from both terms of Washington’s presidency. In this third episode, we consider the leadership lessons demonstrated by Washington at the Continental Congress and Constitutional Convention.
Highlights of this podcast include:

  1. Introduction into Washington’s generalship of the Continental Army.
  2. Why silence and listening can be so powerful.
  3. Call for strong union in Constitutional Congress.
  4. How did Washington’s leadership in the Constitutional Convention influence the creation of the Chief Executive role?
Categories
Life with GDPR

Cathay Pacific Enforcement Action


In this episode of Life with GDPR, Jonathan Armstrong and Tom Fox consider the recently released UK Information Commissioner’s Office (ICO) Cathay Pacific Airways Limited fine of £500,000 for failing to protect the security of its customers’ personal data. This is a pre-GDPR case and the fine represents the maximum fine under the ICO’s pre-GDPR powers. The ICO took into particular account the fact that Cathay Pacific failed to follow its own policies and ignored fundamental best practices.
Some of the highlights in this episode include:

  1. What were the background facts of the enforcement action?
  2. What are the implications of a pre-GDPR enforcement action?
  3. Why was the maximum fine levied?
  4. What were the regulators findings?
  5. What are the lessons learned for the data protection practitioner?
  6. Where listeners can go for more information.

Resources
Cordery Breach Navigator
Cordery Client Alert “Client Alert: ICO Fines Cathay Pacific £500k for Data Security Breach”

Categories
The Ethics Experts

The Ethics Experts: Bonus Episode 005 – COVID-19 Edition with Jill Katz


On this special bonus episode of The Ethics Experts, we speak with Jill Katz about how COVID19 has changed the world, and how people must transition within before the world can fully change.

Check out more episodes, and don’t forget to subscribe on your favorite podcast platform!