In this five-part podcast series, sponsored by K2 Intelligence FIN, we consider defining and building effective compliance programs. I am joined in this series by Michelle Goodsir, a Managing Director at K2 Intelligence, and Gail Fuller, Financial Integrity Network (FIN) Vice President. Michelle has 25 years of financial crime compliance experience which includes fraud risk management, anti-bribery and corruption, corporate security and investigations, sanctions, and Anti-Money Laundering (AML) program experience working within the financial services industry and the US government. Gail focuses on developing, refining, and implementing FIN’s quantitative and qualitative risk rating tools. She leads engagements focused on helping FIN’s jurisdictional and private sector clients understand their exposure to financial crime risk and develop and implement strategies to mitigate their risks.
Over this series we are considering key challenges in compliance, why compliance needs a seat at the table, how to do compliance on a budget; training and culture and what is on the horizon. In Part 4, I visit with Gail Fuller on how to facilitate ongoing compliance training, communications and re-emphasizing culture in an organization.
Some of the highlights include.
- What are some of the key components to a successful training program? They include comprehensive, tailored; effective training which is built into the culture; it is continuous and employees are held accountable.
- Especially given all that is going on in the world, how can organizations ensure they are giving employees the right blend of in-person and online training? Regulators are neutral on method but a blend is really ideal as people learn in different ways. You should design your training program to take advantage of each form of training’s benefits. Finally be sure to make it engaging.
- Once training is complete, how can entities ensure their teams are able to report issues? A kley is to have two buckets- one which is inward facing (governance focused) and a second which is outward facing (interactions with regulators).
Resources
K2 Intelligence financial crimes risk & compliance page: https://www.k2intelligence.com/en/services/our-practices/financial-crimes-risk-and-compliance
K2 Intelligence AML page: https://www.k2intelligence.com/en/services/our-practices/financial-crimes-risk-and-compliance/anti-money-laundering-compliance
K2 Intelligence Anti-corruption page: https://www.k2intelligence.com/en/services/our-practices/financial-crimes-risk-and-compliance/anti-corruption
K2 Intelligence DOLFIN: https://www.finintegrity.com/dolfin.html
