Tag: data driven compliance

Categories
Blog

Compliance Podcast Network Podcasts Honored by the 2023 Communicator Awards

Recently multiple podcasts on the Compliance Podcast Network have been selected by the Academy of Interactive and Visual Arts to be recognized as a Communicator Award winner for podcast excellence. I wanted to thank our listeners and fans who voted for us and have made the Compliance Podcast Networkone of the most award-winning podcast network in the country.

Never The Same, How the Russian Invasion Changed the World Forever was a passion project co-hosted by myself and Exiger President and CEO Brandon Daniels. It  was awarded two 2023 Communicator Awards. The first was an award of Excellence for Individual Episodes, in the podcast category of Business. The second was for Excellence in a Featured Series.

The Russian invasion of Ukraine changed the geopolitical landscape forever. It has brought a fundamental challenge to international norms, sovereignty and the rule of law that underpins global business. It made doing business more challenging and complex than ever. In this podcast series, co-hosts Tom Fox and Brandon Daniels discussed five key business areas have changed forever after the Russian invasion. We explored the sea of changes in the area of supply chains, trade and economic sanctions, anti-Bribery and anti-corruption, cyber security and ESG. Check out the entire 5-part series here.

The Big Empty and Economic Issues Facing 21st Century Texas, co-hosted by Tom Fox and Loren Steffy was honored with two 2023 Communicator Awards. The first was for Excellence in the category of Limited Series. The second was for Distinction for Individual Episodes, in the Business Podcasts category.

This series was based on Steffy’s seminal fiction work The Big Empty which tells the story of a small West Texas town on the cusp of the new millennium, a lifelong cowboy wonders if a new semiconductor plant will ensure a future for his son or eliminate the only way of life he’s ever known. The Big Empty set in 1999, is a tale about the sense of place and tells the story of a fictional company AzTech which builds a semi-conductor plant in the dying west Texas city of Conquistador The story presages a series of cultural, economic, geographic and resources conflicts that are embedded in 2023 Texas. The podcast series focuses on current economic and culture issues faced by the state of Texas, its governments and its citizens, all explored through the prism of Steffy’s book, The Big Empty. Over this special podcast series we considered the following issues facing Texas today; including water, power, land investment, housing and the clash of cultures. Check out the full five-part series here.
Coming Conflict with China-Business Challenges and Responses, won 2 awards for Distinction. The first was for a Limited Series and the second was in the Business-to-Business Category.

In this podcast, which I co-host with Exiger President and CEO Brandon Daniels, we considered how in the short span of the 21st Century, the world’s two top powers, the United States and China, have moved inexplicably towards a showdown. This evolved from a commercial competition into something more akin to permanent non-kinetic warfare. What does this mean for US business doing business in and with China? In this special 5-part blog post series, we explore issues diverse as real danger, supply chain, exports, cyber-attacks and IP theft from the business perspective and give the compliance and business executive their viewpoints on what you can do to not only prepare your company but protect it as well. The challenges your company faces and more importantly the responses you make will go a long way towards determining if your organization will weather the coming storm. Check out the full 5-part series here.


Data Driven Compliance. One of the newest podcasts on the Compliance Podcast Network, having premiered in February 2023, was awarded a 2023 Communicator Awards Distinction for Individual Episodes, in the category of Business-to-Business. In this podcast series, host Tom Fox discusses and visits with experts on how to use data to improve and enhance the effectiveness of your compliance program, creating greater business efficiency, all leading to more return on the investment for your compliance regime. The podcast is sponsored by Kona AI. Check out the inaugural episode, where I visit with Kona AI CEO Vince Walden on the develop of data driven compliance.

The Night Sky-a Podcast on the Two Eclipses Coming to Kerrville. Taking a completely different route is my passion project The Night Sky which I co-host with Andrew Gay. This podcast received a Communicator’s Award of Excellence in the category of Individual Episodes-Science & Medicine.

In this podcast series, Andrew and myself celebrate that for two days over the next 18 months, Kerrville, TX will be the Eclipse Capitol of the World. The first will be an annular solar eclipse will occur on October 14, 2023, and the second a total solar eclipse taking place on April 8, 2024. The 2023 annular eclipse will be a partial eclipse that will create a ring of fire around the sun and the 2024 event will be a total eclipse where full darkness occurs. In this podcast, we discuss how the town of Kerrville will prepare for an influx of a quarter million (or more) visitors. For a flavor of the podcast, check out our inaugural episode, where we host Dr. Ben Locwin who explains the two eclipses.

I would love to host you and your podcast on the Compliance Podcast Network. It is the only podcast network dedicated to compliance but as you can see by many of these award-winning podcasts we are not limited strictly to compliance. In fact, the only thing we are limited by is our collective imaginations. So, do you have an idea for a podcast? Do you have a passion you want to discuss? Then give me a call or shoot me an email.

Categories
Data Driven Compliance

Data Driven Compliance – Evgeny Likhoded – Using Data to Make Compliance Programs Dynamic

Are you struggling to keep up with the ever-changing compliance programs in your business? Look no further than the Data Driven Compliance podcast, hosted by Tom Fox. It is a podcast featuring in-depth conversations around the uses of data and data analytics in compliance programs. In this episode, host Tom Fox visits Evgeny Likhoded, the CEO of Clausematch, to discuss their platform for real-time collaboration on content related to governance risk and compliance.

With a focus on financial services, insurance, and Fintech companies, Clausematch ensures compliance with regulations by managing policies and procedures and tracking changes. Likhoded explains how adopting this platform contributes to increased business efficiency and compliance, highlighting its value during times of crisis. Plus, listeners can expect to learn about upcoming trends in compliance technology, including those mandated in areas such as data privacy, ESG, and cybersecurity. Take advantage of innovative ideas to elevate your approach to compliance – subscribe to the Data Driven Compliance podcast today!

Key Highlights:

· The Importance of Dynamic Compliance Programs
· Real-time Governance and Compliance Reporting
· Clausematch Platform and Dynamic Compliance Programs
· Smart and Connected Compliance Strategy
· Compliance Technology and Emerging Regulatory Frameworks

Notable Quotes:

“It’s not enough anymore to have a compliance manual sitting on the shelf; it needs to be distributed. It needs to have engagement. It needs to be communicated.”

“Our goal was to enable collaboration on content that needs a strict and strong governance process.”

“Our platform is used for managing policies and procedures in a way that enables companies to track every single change every time a policy changes to prove that this change complies with the regulations.”

“We have seen an increased number of RFPs requests for proposals specifically in compliance and policy management in large organizations, not just financial services.”

 Resources

Evgeny Likhoded on LinkedIn

Clausematch

 Tom Fox 

Connect with me on the following sites:

Instagram

Facebook

YouTube

Twitter

LinkedIn

Categories
Data Driven Compliance

Anil Karmel on Revolutionizing Compliance with RegOps

Data Driven Compliance, hosted by Tom Fox, is a podcast featuring an in-depth conversation about the uses of data and data analytics in compliance programs. In this episode, host Tom Fox visits with Anil Karmel, co-founder of RegScale. They delve into the issue of compliance at scale. They discuss the concept of DevOps and how it can be applied to compliance through a discipline called “RegOps.” It emphasizes automating compliance to create a near-real-time process while providing a good user experience.

As a co-founder of RegScale, Karmel discusses their journey of cultural transformation in compliance, creating an API-centric platform to provide real-time evidence and automated reporting for compliance gaps. We highlight the need for a philosophical change in compliance and discuss the evolving regulatory and business landscape. Don’t miss out on this insightful podcast episode!

Key Highlights

·      Scalable Compliance Solutions

·      Reg Ops: Applying DevOps to Compliance

·      Streamlining Compliance Reporting with Real-time Information

·      RegScale: Solving Compliance Challenges for Enterprises

·      Modernizing Compliance through Regulatory Operations Approach

Notable Quotes

“Realize this manual paper-based process of trying to demonstrate regulatory compliance is just not something that can be scaled manually.”

“It needs to be easier for the producer and consumer to produce and consume the content.”

“You can present the status of your compliance program, where your gaps are in near real-time, where the associated risks are, and the cost to remediate.”

“Unless there is this transformation of how we do our jobs by leveraging a regulatory operations approach to leverage the best of the machine and the best of the human, we’re already behind the eight ball.”

 Resources

Anil Karmel on LinkedIn

RegScale

 Tom Fox 

Connect with me on the following sites:

Instagram

Facebook

YouTube

Twitter

LinkedIn

Categories
Blog

New Podcasts On the Compliance Podcast Network

I have always striven to make the Compliance Podcast Network the most relevant, up-to-date and entertaining podcast network around, in compliance and elsewhere. I have continued that focus by starting nine new podcasts in 2023, with more to come. If you have not done so, check out one or more of these new podcasts on the CPN. I know you will find one for you.

  1. Two Gurus Talk Compliance

What happens when two top compliance commentators get together? They talk compliance, of course. I hope you will join Kristy Grant-Hart and myself for our new podcast, 2 Gurus Talk Compliance! In this podcast series we also review other top commentators in compliance. In this podcast, we will consider all things compliance, corporate ethics, ESG, governance, and whatever else is on our minds and the minds of other experts in the field. Join Compliance Kristy and the Voice of Compliance to explore all of these topics with expertise and wit.

  1. Coming Conflict with China – Business Challenges and Responses

In the short span of the 21st Century, the world’s top powers, the United States and China have moved inexplicably toward a showdown. This evolved from a commercial competition into something more akin to permanent non-kinetic warfare. What does this mean for US business doing business in and with China? In this special 5-part blog post series, I am joined by Brandon Daniels, CEO and President of Exiger, a global risk and compliance company, explore issues diverse as a real danger, supply chain, exports, cyber-attacks, and IP theft from the business perspective and give the compliance and business executive their viewpoints on what you can do to not only prepare your company but protect it as well. The challenges your company faces and, more importantly, the responses you make will go a long way toward determining if your organization will weather the coming storm.

  1. Compliance and AI

What is the role of Artificial Intelligence in compliance? What about Machine Learning? ChatGPT? These are but three of the many questions I will explore in this exciting new podcast, Compliance and AI. This podcast will look at how AI will impact compliance programs into the next decade and beyond. If you want to find out why the future is now, join me on this journey to the frontiers of compliance.

  1. Compliance Man Takes a Euro Trip

Compliance Man is back! In this season, myself and displaced Ukrainian Tim Khasanov-Batirov return to discuss Tim’s observations on the EU compliance scene, having fled Ukraine at the start of the war. Tim and I had previously looked at Tim’s work in emerging markets and in this series we focus on the EU. Bringing the wit, insight, and a non-US-centric take on compliance, join us as we explore compliance from a European perspective.

  1. Data Driven Compliance

In January, I premiered the first new podcast in the Compliance Podcast Network for 2023. This podcast is sponsored by Kona AI and in it, I discuss how to use data to improve and enhance the effectiveness of your compliance program, creating greater business efficiency, all leading to more return on investment for your compliance regime. Join host me as I explore how data will drive your compliance program to the next level.

  1. Fox on Podcasting

Sometimes you have to go meta. After having recorded, produced, hosted, and guested in over 5000 podcasts, I decided it was time to have a podcast about what else–podcasting. In this podcast series, I visit with podcast hosts to learn about their love of podcasting, what they have achieved through podcasting, and why they need to consider starting their podcast. Fun, witty, and chatty with a dash of joie de vivre, this series will be entertaining and educational. Join me as I explores the world of podcasting.

  1. Sunday Book Review – Author’s Podcast

The Sunday Book Review is one of the most beloved podcast in the Compliance Podcast Network. However many listeners wanted a podcast to deal with books for and about the compliance profession. In the Sunday Book Review – Author’s Podcast, I provide just that; as I visit with authors who write about business ethics, leadership, and compliance issues. This podcast will take a deep dive into books relevant to the compliance professional and make for a more leisurely chat with the authors about why they wrote their books, the details in the book, and, most importantly, what skills they will bring to the compliance professional.

  1. Pawtastic Friends – The Paw Talk

Pawtastic Friends is the designated charity for the Compliance Podcast Network. It provides dog enrichment training for rescue dogs. In this podcast, host Tom Fox talks to Pawtastic Friends founders Michael and Melissa Novelli about their passion for helping rescue dogs find their fur-ever home. You have heartwarming and heartbreaking stories from the Novellis and those who work to make Pawtastic Friends such a success. Listen in to Pawtastic Friends-The Paw Talk.

  1. The Woody Report – Karen Woody and Tom Fox talk Succession

Co-hosts Tom Fox and Karen Woody are back as they delve deep into the final season of Succession. From the recurring theme of personal vs. business decisions to the amazing performance from Shiv, Kendall and Roman, Tom and Karen two bring you it all! But that’s not all – learn valuable lessons about deal-making and cultural fit, and find out why the attention to detail in the clothing and accessories of the characters is so important. And if you’re looking for a great podcast recommendation, tune in to catch their thoughts on a brand-new show – who knows, you might find your next binge-worthy obsession! Take advantage of the upcoming second episode of The Woody Report, where Tom and Karen bring you all the latest in pop culture, business, and more.

 10. Sports and Compliance

The world of Sports is often a metaphor for business. In this podcast, two of the top compliance commentators around, Stephen Martin and myself, use our love of sports and competition to discuss current ethical issues in sports, look at compliance through a sports lens and determine how the world of sports and its stories can be a guide for the compliance professional.

But do not worry, I currently have several more podcasts in production and you will hear about them in the near future! Happy listening.

Categories
Blog

Using Data Analytics to Create an Effective Compliance Program-Part 3

In this conclusion of a three-part blog post series, we are considering how to create an effective compliance program through the use of data analytics. I am joined in this exploration by Vince Walden, CEO of Kona AI and we are considering the requirements laid out by the Department of Justice (DOJ) in their recent pronouncements on best practices, as well as the key trends and lessons learned from enforcement actions. Finally, we will consider the speech by Kenneth Polite on the changes to the Corporate Enforcement Policy and how to meet those requirements using data analytics. Walden articulated 10 steps you need to follow:

  1. Assess a company’s conduct;
  2. Self-disclose;
  3. Know quickly if there is a problem or not;
  4. Have access to relevant sources of data;
  5. Conduct monitoring at the beginning and throughout the lifespan of the relationship
  6. Have an on-premise application;
  7. Look up vendors and transactions quickly;
  8. Run data through a library of corruption and fraud tests;
  9. Look at a predictive model and see if it meets the profile of an improper payment; and
  10. Have visibility into data almost at their fingertips.

The 7th step involves having an on-premise application for data analytics. This is an important step, as it allows companies to keep their data secure, while still being able to use predictive analytics and other compliance monitoring tools. You should consider a platform designed to be hosted and managed as a service, meaning that companies can utilize the platform without having to move large amounts of data around each month.

Under steps 8 & 9, you should run your data through a variety of libraries and test but a key is doing so without compromising their data privacy. Using data analytics to identify anomalous payments that may be indicative of corruption or fraudulent activities. This will help your organization to meet the DOJ’s expectations for an effective compliance program. It helps improve business processes, increase transparency, and reduce the risk of improper payments. Additionally, such a data analytics platform can be used to benchmark an individual company’s compliance program by identifying attributes of an improper payment.

Finally under Step 10, your organization should use a tool which also supports data visualization and dashboards that help companies analyze their compliance data in real time by quickly identifying any irregularities or anomalies that could be indicative of corruption or fraudulent activity. Your system should also provides support for automated reporting, allowing companies to easily generate reports on their compliance program. This can help companies identify areas of improvement, as well as any potential issues that should be addressed. Such visibility can extend up to the Board of Directors level which will enhance your reporting up the organization and facilitate the Board’s requirement for oversight under the Caremark Doctrine.

This approach can be used to facilitate risk assessments, helping companies to ensure that their compliance programs are up to the standards set by the DOJ. Through ongoing monitoring, it can be  used to track activities and progress in compliance over time, providing companies with a better understanding of their compliance processes, ensuring an effective way to demonstrate your compliance program is up to the standards set by the DOJ.

Data driven compliance decisions are essential for companies to meet the expectations of the DOJ This includes having access to relevant sources of data, conducting monitoring at the start and throughout the lifespan of a relationship, having an on-premise application, and self-disclosing any potential violations to the DOJ. A data analytics platform that can help companies meet these expectations, as it will provide advanced analytics and compliance monitoring that allow companies to quickly identify areas of risk and anomalies in their data. Additionally, the platform can be used to collaborate with other companies to gain insights into attributes of an improper payments to prevent fraud or even simple over-payment of vendor invoices.

Perhaps there is no better example of a data driven approach to compliance in meeting the DOJ expectations than in the 2022 ABB, Foreign Corruption Practices Act enforcement action. In it, ABB had notified the DOJ it wanted to meet and had scheduled a meeting but before ABB could come in and self-disclose, the story of ABB corruption in South Africa broke in the local news. However the DOJ credited ABB for detecting the violations and notifying the DOJ it was coming in. This went a long way towards the excellent result ABB was able to achieve in its resolution with the DOJ.

Listen to Vince Walden on Data Driven Compliance