Innovation comes in many forms, and compliance professionals need to not only be ready for it but also embrace it. Today, I visited with well-known compliance professional Jay Rosen to discuss how companies can improve their compliance programs through self-monitoring.
Jay Rosen is a seasoned professional with a background in investment banking and a keen interest in ethics and compliance programs. Rosen’s perspective on ethics and compliance programs is shaped by his extensive analysis of FCPA enforcement actions over the past decade. He believes that companies should carefully consider their internal setup before deciding whether to bring in a third party for assistance. He suggests that while an outside perspective can sometimes lead to a deeper investigation, a mature ethics and compliance program with sufficient resources in-house can also be effective. Rosen emphasizes the importance of objectivity in these programs and proposes a compromise of working with a fractional monitor if the company lacks the necessary headcount. He sees the increasing use of data analytics and self-reporting as key factors in improving ethics and compliance efforts within organizations.
Resources:
Jay Rosen on LinkedIn | Twitter
Tom Fox
