Tag: compliance

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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

Tom Fox

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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.

For more information on KonaAI, click here.

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Great Women in Compliance

Great Women In Compliance – Jessica Hayden on Sliding Doors

Welcome to the Great Women in Compliance Podcast. Today Hemma Lomax visits with Jessica Hayden, a graduate of Georgetown University Law Center and held senior compliance roles at 21st Century Fox, Disney, and Comcast Corporation. This past year she took a step back from corporate life to work on refugee assistance, writing, and moving her family (once again) overseas. Jessica is a seasoned compliance professional with a diverse background in global ethics and international living experiences, having honed her skills in the compliance function through a career in law, including expertise in litigation and the FCPA world.

Her perspective on her global ethics career and international living experiences is one of adaptability and seizing opportunities. She has navigated her career alongside her husband’s Foreign Service career, finding unique opportunities in each country they have lived in, such as working on freedom of speech and freelance journalism in Azerbaijan. Hayden sees her international experiences open doors and explore different areas of law. She also recognizes the challenges and hardships that come with living in different countries, such as the evacuation from Ukraine and has used these experiences to gain perspective and find her purpose in helping others through pro bono immigration cases. Join Hemma Lomax and Jessica Hayden on this episode of the Great Women in Compliance podcast to learn more about her fascinating journey.

Key Highlights

  • Navigating International Compliance Careers with Cultural Awareness
  • The Power of Choice: Navigating Living Abroad
  • Building Trust in Global Professional Relationships
  • Finding Purpose Through Evacuation and Resilience
  • Balancing Motherhood and Career Growth
  • Discovering Hidden Gems in Every Job

Resources

Join the Great Women in Compliance community on LinkedIn here.

 

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31 Days to More Effective Compliance Programs

One Month to a More Effective Compliance Program Through Data Analytics: Day 4 – AI Driven Risk Management and Fraud Prevention

Through leveraging AI-driven solutions, companies can collect and analyze survey data to identify patterns and trends that may indicate potential risks. This empowers organizations to take proactive measures to mitigate these risks and foster a culture of trust and transparency.

Another area of significance is mapping risks to controls. This allows a compliance professional or risk manager to know where risks are occurring within an organization and then map them to corresponding controls. This permits compliance functions to assess the effectiveness of their controls and identify areas that require improvement. By leveraging AI-driven solutions, organizations can gain a comprehensive understanding of their risk landscape and make data-driven decisions to strengthen their control environment.

AI-driven solutions have the potential to revolutionize risk assessment and fraud prevention. By leveraging these solutions, companies can enhance their compliance efforts, improve efficiency, and make data-driven decisions. However, it is crucial to balance automation with human expertise and address challenges related to data availability and quality. Ultimately, the successful implementation of AI-driven solutions requires a holistic approach that considers the impact on employees, fosters a culture of trust and transparency, and aligns with the organization’s risk management objectives.

Three key takeaways:

  1. Data visibility allows organizations to effectively manage their compliance efforts and make data-driven decisions.
  2. By leveraging AI-driven solutions, compliance functions can generate dashboards and analytics that provide real-time insights into their risk landscape.
  3. This not only improves efficiency but also enables auditors to focus on understanding the data and identifying potential risks.

For more information on this month’s sponsor check out KonaAI.com.

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Innovation in Compliance

Innovation in Compliance – Ann Gynn on Building an Audience: The Content Entrepreneur

Innovation comes in many areas and compliance professionals need to not only be ready for it but embrace it. One of those areas is telehealth and telemedicine. My guest in this episode is Ann Gynn, a content creator specialist.

Ann Gynn is a seasoned content entrepreneur with a rich journalism, marketing, and public relations background, currently serving as the editor at The Tilt and the Creator Content Entrepreneur Expo (CEX). Gynn’s perspective on “content entrepreneurship: balancing creation and business operations” is rooted in her belief that content entrepreneurs can build their audience and run their own media companies, independent of traditional mainstream media outlets.

She emphasizes the importance of creating content and focusing on the business side of entrepreneurship, such as marketing, growing an audience, and monetizing the content. Gynn believes that many content creators make the mistake of spending too much time on content creation and not enough on marketing and business operations, and she offers resources and services through The Tilt to help them navigate and succeed in this aspect. Join Tom Fox and Ann Gynn on this episode of the Innovation in Compliance podcast to delve deeper into this topic.

Key Highlights

  • Building an Audience: The Content Entrepreneur
  • Maximizing Success Through Business Savvy
  • Neglecting Business Side: Key Content Entrepreneurship Mistakes
  • The Knowledge-Based Content Entrepreneur Expo (CEX) 

Resources:

Ann Gynn on LinkedIn

G Force Communications

The Tilt

Content Entrepreneur’s Expo

 

Tom

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Data Driven Compliance

Data Driven Compliance: Marta Cadavid – Fighting Fraud with AI

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, is a 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 visit with Marta Cadavid, co-founder of NoFraud Latam who talks about using data-driven compliance to fight fraud.

Marta Cadavid, a Colombian accountant and co-founder and CEO of NoFraud Latam, is a passionate advocate for fraud prevention and detection. Marta’s perspective on “AI-based fraud prevention software developed by Northrop La Tam CEO” is shaped by her belief that fraud is a significant issue causing financial losses for companies and that current detection methods are slow and ineffective.

Mart and her team have developed Fraud Explorer, a software that uses artificial intelligence to detect fraud in real-time, significantly reducing the typical 12-month detection period. Marta emphasizes the importance of a diverse team in developing effective strategies to mitigate risks related to fraud and other misbehaviors in companies. Join Tom Fox and Marta Cadavid on this episode of the Data-Driven Compliance podcast to learn more about her innovative approach to fraud prevention.

Highlights Include:

  • Transforming Compliance Through Data Analytics
  • Effective Strategies in Compliance and Risk Management
  • The Role of Data Analytics in M&A Compliance
  • Leveraging diverse data sources for risk assessment
  • Managing Risks: Vendors, Customers, and Employees
  • Strengthening Compliance Programs Through Team Collaboration
  • The Power of Generative AI in Compliance
  • Enhancing Compliance Programs with Predictive Models
  • Factors Influencing Budget Approvals and Getting Budget

 Resources:

NoFraud Latam

Marta Cadavid on LinkedIn

 Tom Fox 

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31 Days to More Effective Compliance Programs

One Month to a More Effective Compliance Program Through Data Analytics: Day 3 – Building An Effective Data Analytics Program

Chief Compliance Officers (CCOs) are increasingly turning to data analytics programs to enhance their compliance efforts. These programs leverage the power of data to identify risks, monitor activities, and detect potential compliance violations. There are several key factors that impact the success of building out data analytics programs. One crucial aspect is the need to define the risks that organizations want to monitor. By identifying the specific risks, compliance officers can focus their data analytics efforts on gathering relevant data and analyzing it to gain insights into potential compliance issues. This process involves thinking innovatively and finding creative ways to capture data that may not be immediately obvious.

Building effective data analytics programs for compliance enhancement requires careful consideration of various factors. Compliance officers must define the risks they want to monitor, identify valuable data sources, and think innovatively to capture relevant data. Leveraging internal expertise and fostering collaboration between different departments is essential for successful implementation. By starting small and gradually expanding their capabilities, organizations can demonstrate their commitment to using data analytics and gain compliance expertise. Ultimately, these programs enable companies to enhance their compliance effectiveness and mitigate risks effectively.

 Three key takeaways:

1. There are multiple factors in the design, creation, and implementation of a data-driven compliance program.

2. A data-driven approach will allow a shift of the focus from individual policy violations to identifying systemic issues.

3. Compliance officers should focus on how to begin and gradually build their capabilities.

Check out the month’s sponsor, KonaAI here.