Tag: compliance

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31 Days to More Effective Compliance Programs

One Month to a More Effective Compliance Program Through Data Analytics: Day 13 – Data Management Automation

Data automation not only streamlines the compliance process but also provides transparency and visibility into the decision-making process. There is a clear importance to connecting people, data, process systems, and tools in one place. This eliminates the need for compliance officers to navigate multiple systems and tools, allowing them to focus on risk-based due diligence. By having a clear understanding of the decision tree and the ability to adjust the automation process, organizations can trust the automation while maintaining control and oversight.

The importance of automation for data analysis in compliance programs cannot be overstated. Organizations need to have visibility into their data at their fingertips to ensure regulatory compliance and mitigate risks. Automation streamlines the compliance process, provides transparency, and allows for adaptability in the face of evolving regulations and risks. By leveraging data analysis, organizations can identify deviations, improve cycle times, enhance training effectiveness, and make informed decisions. Board-level involvement is crucial in overseeing the automation and data analysis process, recognizing its strategic value, and ensuring its effective implementation. With the advent of AI and intelligent approaches, organizations that do not embrace automation and data analysis may suffer in the long run. Trust but verify, and always prioritize visibility and transparency in compliance programs.

Three key takeaways:

  1. Automation not only streamlines the compliance process but also provides transparency and visibility into the decision-making process.
  2. There is a need for board-level involvement in overseeing the automation and data analysis processes.
  3. Through analyzing deviations from the expected path, compliance officers can identify areas that require additional process controls or adjustments.

Check out KonaAI here.

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Innovation in Compliance

Innovation in Compliance – Mohamed Lazzouni on The Role of Biometrics in Data Management and Compliance

Innovation comes in many areas and compliance professionals need to not only be ready for it but embrace it. My guest in this episode is Mohamed Lazzouni, Chief Technology Officer at AWARE.

Mohamed Lazzouni, a distinguished individual with a robust background in physics and solid-state physics, currently serves as the Chief Technology Officer at Aware. Lazzouni firmly believes in the potential of behavioral biometrics to enhance security and compliance, particularly in the financial services industry. He asserts that biometrics can be used to verify customer identities during online transactions, thereby eliminating the need for physical visits to a branch. Furthermore, he sees the analysis of biometric data such as face recognition, voice prints, and fingerprints to ensure the registered identity of a customer is trustworthy. Lazzouni also highlights the role of biometrics in data management and compliance, ensuring that personally identifiable information is collected, stored, and managed securely and in compliance with relevant laws and regulations. He is particularly excited about the potential of behavioral biometrics, such as unique gestures and interactions with devices, to further enhance security and provide new opportunities for businesses and individuals. Join Tom Fox and Mohamed Lazzouni on this episode of Innovation in Compliance to delve deeper into this fascinating topic.

Key Highlights:

  • Exploring Nature at a Unique Scale
  • Leveraging Unique User Interactions for Security
  • Enhancing Identity Verification with Biometric Technology
  • Biometric Security Solutions for System Integrators
  • Biometric Security Revolution: Face and Voice Recognition

Resources:

Mohamed Lazzouni on LinkedIn

AWARE

 

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Innovation in Compliance

Compliance Professionals Adapting to Change: Industries, Regulations, and Beyond: Part 4 – Yee Chow on Navigating the Current ESG Landscape

Welcome to a special series sponsored by Diligent, where we look down the road at key issues in 2024 and beyond. In this series, I will visit with Nicholas Latham, Renee Murphy, Jessica Czeczuga, Yee Chow, and Alexander Cotoia. Over this series, we will consider compliant communications in regulated industries, managing conflicts of interest at the Board level, the Board’s role in compliance training and communications, navigating the current ESG landscape, and professional growth and mentorship in compliance. In Part 4, we navigate the current ESG landscape with Yee Chow.

Yee Chow is a seasoned professional in the sustainability space, currently serving as the Director of Solution Engineering and Consulting at Diligent. With over 16 years of experience, Yee has witnessed the evolution of the chief compliance officer’s role in ESG compliance. Yee’s perspective on this evolution is that it has become a significant and integral part of corporate agendas. Previously, ESG was seen as a side topic for companies to gain more credentials and marketing, but in recent years, it has become a significant focus for most corporations globally. This shift has led to changes in the roles of chief compliance officers and internal management, with ESG now being elevated to their level of responsibility and accountability. Yee believes that this shift is necessary and beneficial for companies in the future. Join Tom Fox and Yee Chow on this episode of the Diligent Podcast to delve deeper into this topic.

Key Highlights:

  • Elevated ESG Compliance Leadership: CCO’s Evolving Role
  • Mandatory Reporting on ESG Factors
  • Integrating ESG into Board Meetings and Discussions

Ready for Purpose-Driven Compliance? Diligent equips leaders with the tools to build, monitor, and maintain an open, transparent ethics and compliance culture. For more information and to book a demo, visit Diligent.com

Join us tomorrow, where we conclude our series with a review of professional development and mentoring for compliance professionals.

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Innovation in Compliance

Compliance Professionals Adapting to Change: Industries, Regulations, and Beyond: Part 3 – Jessica Czeczuga on the Role of a Board of Directors in Training and Communications

Welcome to a special series sponsored by Diligent, where we look down the road at key issues in 2024 and beyond. In this series, I will visit with Nicholas Latham, Renee Murphy, Jessica Czeczuga, Yee Chow, and Alexander Cotoia. Over this series, we will consider compliant communications in regulated industries, managing conflicts of interest at the Board level, the Board’s role in compliance training and communications, navigating the current ESG landscape, and professional growth and mentorship in compliance. In Part 3, we review the role of a Board of Directors in compliance training and communications with Jessica Czeczuga.

Jessica Czeczuga is a seasoned corporate training and compliance professional, currently serving as the Principal Instructional Designer at Diligent. Jessica’s perspective on the importance of Board oversight in corporate training and compliance is shaped by her extensive experience and deep understanding of compliance programs. She emphasizes the crucial role of the Board in setting the tone for the organization’s culture, advocating for active communication from the Board about the importance of training to all employees. Jessica also suggests that the Board should be more significant in discussions about your organization’s compliance efforts, ensuring it meets its stated commitments. She views the Board as another group within the organization that requires tailored training and active involvement in promoting a culture of compliance. Join Tom Fox and Jessica Czeczuga as they delve deeper into this topic.

Key Highlights:

  • Driving Compliance and Training Messaging
  • Fostering Alignment Through Board Involvement
  • Assessing the Impact of Multinational Training

Ready for Purpose-Driven Compliance? Diligent equips leaders with the tools to build, monitor, and maintain an open, transparent ethics and compliance culture. For more information and to book a demo, visit Diligent.com

Join us tomorrow as we consider navigating the current ESG landscape.

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Great Women in Compliance

Great Women in Compliance – Lisa Beth Lentini Walker on Compliance Career Connections

Welcome to the Great Women in Compliance Podcast. Today Lisa Fine visits with Lisa Beth Lentini Walker on her career in compliance and how compliance career connections can help one’s journey in compliance.

Lisa Beth Lentini Walker is a renowned figure in the ethics and compliance field, currently serving as the Associate General Counsel, Corporate Legal and Assistant Secretary at Marqeta, and the CEO and founder of Lumen Worldwide Endeavors. With a rich background as a securities lawyer and a Chief Compliance Officer, Lisa Beth has a unique perspective on ethics and compliance. She believes in the power of values and intentions in shaping one’s professional journey and emphasizes the importance of networking and connections in the compliance industry. Her philosophy revolves around putting values into action and helping organizations align their actions with their ethical principles. She has made a significant impact in the field through her work and the Compliance Career Connection, a platform she started to support and connect professionals in the field. Join Lisa Fine and Lisa Beth Lentini Walker on this episode of the Great Women in Compliance podcast to learn more about her insights and experiences.

Key Highlights:

  • Lisa Beth’s Impact on Ethics and Compliance
  • Lisa Beth’s Journey in Ethics and Compliance
  • Embracing Pauses for Personal Growth and Success
  • Aligning Choices with Core Values and Goals
  • Designing a Fulfilling Life Through Reflection

Resources:

Join the Great Women in Compliance community on LinkedIn here.

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Data Driven Compliance

Data Driven Compliance: Jim Dawson on Data Driven Compliance in Pharma

Are you struggling to keep up with the ever-changing compliance programs in your business? Look no further than the award-winning Data-Driven Compliance podcast, hosted by Tom Fox, this podcast features an in-depth conversation around the uses of data and data analytics in compliance programs. Data-Driven Compliance is back with another exciting episode. Today, I visited with James Dawson, Chief Compliance Officer at Qordata on using data-driven compliance in the pharmaceutical arena.

Jim Dawson is a seasoned professional with a robust background in sales, pharmaceutical sales, and compliance. He currently serves as the vice president of Compliance Solutions at Core Data, where he plays a crucial role in the development of compliance solutions. Dawson’s perspective on “data-driven compliance in pharmaceutical companies” is that data is a vital tool for improving compliance programs and preventing potential issues. He emphasizes the importance of data analysis to identify patterns and behaviors that may indicate potential compliance risks and believes in the power of predictive analytics to proactively implement controls. Dawson also underscores the significance of data in state price transparency reporting and auditability. He sees data as a valuable tool for monitoring, assessing, and improving compliance programs in pharmaceutical companies. Join Tom Fox and Jim Dawson on this episode of Data Driven Compliance to learn more about his insights and experiences.

Highlights Include:

  • Enhancing Compliance Programs with Data Analysis
  • Monitoring and Justifying Pharmaceutical Price Increases
  • Increased Scrutiny of Physician Payments and Compliance
  • Managing Conflicts of Interest in Pharmaceutical Companies

Resources:

Jim Dawson on LinkedIn

Qordata

 Tom Fox 

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Innovation in Compliance

Compliance Professionals Adapting to Change: Industries, Regulations, and Beyond: Part 1 – Nicholas Latham on Compliant Communications

Welcome to a special series sponsored by Diligent, where we look down the road at key issues in 2024 and beyond. In this series, I will visit with Nicholas Latham, Renee Murphy, Jessica Czeczuga, Yee Chow, and Alexander Cotoia. Over this series, we will consider compliant communications in regulated industries, managing conflicts of interest at the Board level, the Board’s role in compliance training and communications, navigating the current ESG landscape, and professional growth and mentorship in compliance. In this Part 1, we consider compliant communications in regulated industries with Nicholas Latham.

Nicholas Latham is an accounting professional with a strong accounting and risk management background, currently serving as a Client Partner at Diligent Corporation. His perspective on accounting and risk assessment is shaped by his extensive experience in the financial industry, particularly in the collections department of a US bank. Nicholas believes that organizations must implement and adapt frameworks such as COSO and ISO 31,000 to manage and mitigate risks effectively. He also emphasizes the need for a holistic view of risk and control across the entire organization rather than siloed departments, and he believes these frameworks can help provide a comprehensive understanding of the organization’s risk landscape. Join Tom Fox and Nicholas Latham on this episode of the Diligent Podcast as they delve deeper into Latham’s expertise in governmental accounting and risk assessment.

Key Highlights:

  • Risk and Control Expertise in Professional Background
  • Assessing and Mitigating Risk in Organizations
  • Holistic View of Organizational Operations and Risk

Ready for Purpose-Driven Compliance? Diligent equips leaders with the tools to build, monitor, and maintain an open, transparent ethics and compliance culture. For more information and to book a demo, visit Diligent.com

Join us tomorrow, where we will consider managing conflicts of interest at the Board of Directors.

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FCPA Compliance Report

FCPA Compliance Report – Ryan Lougheed on Teamwork and Communication: Lessons from Esports and GRC

Welcome to the award-winning FCPA Compliance Report, the longest-running podcast in compliance. In this episode, Tom Fox welcomes Ryan Lougheed, Director, of Product Management at Onspring.

Ryan Lougheed has over twelve years of experience in the Governance, Risk, and Compliance (GRC) field, currently serving as the director of a platform at Onspring, a SaaS GRC platform and business process automation platform. Drawing from his background in esports, Lougheed believes that teamwork and communication are crucial in both the GRC space and the world of esports. He emphasizes the importance of effective and efficient communication, especially in high-stress situations, and believes that these skills can be carried over to a compliance-focused career.

In the context of esports, Lougheed explains that communication is vital in a team of five players and that professional esports organizations provide resources such as physical trainers and sports psychologists to support their players’ communication skills. He also notes that the esports industry is evolving, with larger companies creating brands around individual streamers and organizations acting as agents to help grow the streaming culture. Join Tom Fox and Ryan Lougheed on this episode of the FCPA Compliance Report podcast to delve deeper into the importance of teamwork and communication in GRC.

 Key Highlights

  • GRC Collaboration and Communication
  • Streamlining compliance with Onspring’s centralized platform
  • Streamlining Communication in High-Stress Compliance Situations
  • Leveraging Esports Skills for GRC Success

Resources

Ryan Lougheed on LinkedIn

Onspring

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10 For 10

10 For 10: Top Compliance Stories For The Week Ending December 9, 2023

Welcome to 10 For 10, the podcast that brings you the week’s Top 10 compliance stories in one podcast each week. Tom Fox, the Voice of Compliance brings to you, the compliance professional, the compliance stories you need to be aware of to end your busy week. Sit back, and in 10 minutes hear about the stories every compliance professional should be aware of from the prior week. Every Saturday, 10 For 10 highlights the most important news, insights, and analysis for the compliance professional, all curated by the Voice of Compliance, Tom Fox. Get your weekly filling of compliance stories with 10 for 10, a podcast produced by the Compliance Podcast Network.

You can check out the Daily Compliance News for four curated compliance and ethics-related stories each day, here.

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31 Days to More Effective Compliance Programs

One Month to a More Effective Compliance Program Through Data Analytics: Day 6 – Data Analytics and Business Decisions

In today’s rapidly evolving business landscape, compliance, enterprise performance management (EPM) systems, and data analytics play crucial roles in driving informed decision-making. Compliance program visibility and proper documentation are essential for managing data and ensuring regulatory compliance across companies of all sizes. EPM systems, also known as Enterprise Resource Planning (ERP) systems, are vital tools for financial planning and analysis. These systems go beyond basic accounting functions and offer features such as budgeting, forecasting, and strategic long-range planning. By using EPM systems, organizations can operate at a higher level, enabling medium to long-range planning and supporting informed decision-making.

The importance of compliance, EPM systems, and data analytics in business decision-making cannot be overstated. Compliance program visibility and documentation are crucial for managing data and ensuring regulatory compliance. EPM systems provide the tools for financial planning and analysis, supporting strategic long-range planning and informed decision-making. Data analytics allows businesses to uncover patterns and gain insights, but overcoming data silos is necessary to maximize its potential. By adopting cloud-based solutions and integrating systems, organizations can make the most of their data and drive informed decision-making. Balancing different factors and considering the impact on decision-making processes is key to successfully leveraging compliance, EPM systems, and data analytics in business.

 Three key takeaways:

1. Compliance program visibility and proper documentation are essential for managing data and ensuring regulatory compliance across companies of all sizes.

2. Having data is important, it is equally crucial to focus on how that data is being used.

3. Overcoming data silos is key to maximizing the potential of data analytics.

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