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The Power of Mentorship in Compliance

Lisa Fine and Ellen Hunt recently hosted Melanie Sponholz, recently honored as Compliance Week’s 2024 Mentor of the Year, and Margarita Derelanko, Senior Director of Compliance at Ivy Rehab Physical Therapy, on an episode of the Great Women in Compliance podcast. They had a lively discussion about mentorship, featuring some of the most influential voices in our field. Melanie and Margarita share a mentor-mentee relationship that exemplifies the value of mutual growth and support in our profession.

Mentorship in compliance is more than just guidance; it’s a two-way street that fosters growth and learning for mentors and mentees. Melanie highlights this beautifully, noting that she knows as much from Margarita as Margarita does from her. This reciprocal relationship underscores a fundamental truth about mentoring: an ongoing exchange of knowledge, experience, and support.

Ellen echoed this sentiment, emphasizing the compliance community’s open, sharing nature. In a profession where continuous learning and adaptation are crucial, connecting, sharing, and learning from others is invaluable. Whether through LinkedIn connections, conferences, or casual conversations, every interaction holds the potential for growth and learning.

One of the most critical skills for any mentor is the ability to listen. Ellen stressed that understanding what the mentee needs is paramount. Whether they are seeking career advice, expertise in a specific area, or simply a supportive ear, a good mentor listens first and provides guidance tailored to those needs.

Margarita added that an impactful mentor must be fully present during interactions. This means dedicating undivided attention to the mentee and fostering deep, meaningful conversations that can lead to significant insights and growth. For mentees, being open-minded and receptive to feedback is equally important. Actual progress comes from incorporating the advice and perspectives shared by mentors.

Authenticity and confidence are foundational qualities that mentors should possess. Melanie highlighted the importance of mentors who are comfortable in their skin and genuinely interested in lifting others. This positive energy not only makes mentoring relationships more enjoyable but also more effective.

Lisa shared a personal reflection on the value of vulnerability in mentorship. Early in her career, she found it challenging to relate to mentors who always presented a perfect facade. Only when mentors began sharing their fears and failures did she realize everyone faces challenges. This openness fosters a deeper connection and gives mentees a more realistic view of their journeys.

In today’s interconnected world, mentorship doesn’t have to follow a traditional path. Margarita noted that mentors can be found in various ways, including blogs, newsletters, and virtual interactions. Compliance professionals like Kristy Grant-Hart and Amy Barnard Bahn, who frequently share their expertise online, serve as mentors to many without formal relationships.

This flexibility in mentorship avenues is a testament to the compliance community’s adaptability. Whether through structured programs or informal exchanges, the opportunities to learn and grow are abundant. Ellen related the value of building a diverse network of mentors, akin to having a “kitchen cabinet” of advisors for different aspects of one’s career and personal development.

For those seeking mentors, taking the initiative to reach out is crucial. Melanie encouraged professionals not to be bold and to ask for a virtual coffee or a quick chat. Specificity in your request—highlighting what you admire about their work and what you hope to discuss—can make the approach more effective. Most people in our field are willing to share their knowledge and experiences, especially when approached with genuine interest and respect.

Mentorship is also about fostering confidence. Margarita highlights how influential mentors can instill a sense of belief in their mentees, helping them recognize and harness their potential. This confidence is essential in a field like compliance, where the ability to stand firm in your decisions and actions can have significant implications.

Ellen iterated on the need for safe spaces in mentoring relationships. Whether you are navigating a difficult situation at work or seeking to improve your skills, having a mentor who provides honest feedback in a supportive manner is invaluable. These safe spaces allow growth without the fear of judgment, enabling mentees to tackle challenges head-on.

It is clear that mentorship in compliance is not just about passing down knowledge—it is about building relationships that foster mutual growth, support, and inspiration. Whether you’re a seasoned professional or just starting your career, there is immense value in seeking and providing mentorship.

The bottom line is you need to take action: reach out to someone who inspires you, whether it’s through LinkedIn, a professional network, or an email. Build your kitchen cabinet of mentors and be open to the diverse perspectives and experiences they bring. Remember, the compliance community thrives on collaboration and support; there is always room for one more connection.

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Great Women in Compliance

Great Women in Compliance: Building Great Mentor/Mentee Relationships

Welcome to the Great Women in Compliance podcast on the Compliance Podcast Network, sponsored by Corporate Compliance Insights. In today’s episode, Lisa Fine and Ellen Hunt speak with Melanie Sponholz and Margarita Derelanko, Senior Director of Compliance, Ivy Rehab Network, about mentor/mentee relationships.

The group discusses various aspects of mentoring, from choosing a mentor to building a relationship. They also discuss how this is a 2-way street and how mentors and mentees learn from one another. Mel and Margarita have an established mentoring relationship, and they talk about their experiences with one another and what they see as successes and pitfalls. They discuss the importance of having an authentic connection between the two individuals.

A mentor can provide critical support and guidance throughout one’s career. This episode can help those looking for mentors and how you can maximize this relationship, whether you are the mentor or mentee.

Topics include:

  • How being curious is a critical skill for a mentor
  • The importance of being open and vulnerable
  • How to reach out and make an initial connection with a potential mentor
  • Mentor/mentee relationships take many different forms 
  • Practical tips for mentors and mentees

You can join the LinkedIn podcast community or the Great Women in Compliance podcast community here.

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Great Women in Compliance

Great Women in Compliance: Juliana Molina on The Culture We Deserve

Welcome to the Great Women in Compliance Podcast. In this episode, Hemma visits with Juliana Molina, the globe-trotting Compliance and Ethics expert. With law licenses in Brazil and Spain, and as in-house counsel in the US, she brings a multicultural touch to her work. She thrives as an advisor to various industries, driven by a passion to make compliance and ethics more human-centric.

Juliana’s extensive international experience gives her a unique perspective on how culture influences compliance and ethics practices, and how to adapt to different cultural contexts. She prioritizes facilitating ethical choices and fully informed decisions.

Juliana’s perspective on cultural transformation in ethics and compliance is deeply rooted in her belief that an ethical organization is one that views compliance not just as a matter of adherence to rules, but as a commitment to prioritizing the well-being and dignity of all its stakeholders.

Her experience in advising international businesses has reinforced her emphasis on understanding and addressing the diverse needs and experiences of everyone involved, including employees, customers, shareholders, and vendors.

Juliana’s vision of a human-centric approach to compliance promotes empathy, open communication, and collaboration in the co-creation and implementation of compliance programs. By embracing the diverse perspectives within an organization, Juliana believes we can make more informed decisions, drive cultural change, and ultimately align our operations with our vision and goals.

Key Highlights:

  • Human-Centric Cultural Transformation in Ethics and Compliance
  • Fostering Open Communication for Ethical Leadership
  • Leadership’s Role in Driving Organizational Cultural Transformation
  • Ethical Leadership to Prevent Toxic Workplaces
  • Ethical Culture Through Compliance and Empathy
  • An Inclusive Approach for Female Empowerment in Compliance

Resources:

Join the Great Women in Compliance community on LinkedIn here.

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Great Women in Compliance

Great Women in Compliance: Nick Gallo on Being an Ally

Welcome to the Great Women in Compliance Podcast. In this episode, Lisa Fine visits with a great gentleman in compliance, Nick Gallo, co-CEO at Ethico.

Nick started his career in private equity, and when he and his brother Gio wanted to grow a business together, they both saw the opportunity to build something that would benefit the compliance space.

Nick’s view about being an ally was shaped when he was young and saw his mother’s challenges as a woman in male-dominated industries, which continues today, where he is an advocate for supporting women and diversity, particularly in Ethics and Compliance.

Nick and Lisa discuss the importance of being proactive as allies and constantly trying to improve our workplaces, whether that means speaking up against injustice or supporting those who may not be heard.

They also speak about how unique and special this profession, and this community are, and the importance of building the next generation of compliance leaders and women in the profession.

Key Highlights:

  • Advocacy for Equality and Workplace Support
  • Active Allyship for Positive Social Change
  • A Mentorship’s Role in Professional Development Journeys
  • Fostering Inclusivity for Diverse Women in Compliance
  • Fostering Transparency and Fairness in Hiring

Resources:

Join the Great Women in Compliance community on LinkedIn here.

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Great Women in Compliance

Great Women in Compliance: Amy Mertz Brown on Financial and Regulatory Compliance

Welcome to the Great Women in Compliance Podcast!

In this episode, Lisa visits with Amy Mertz Brown, the SVP Chief Compliance and Privacy Officer at BECU.

Amy started her career in the US government, where she was one of the first leaders at the  Consumer Financial Protection Bureau and was formerly the Chief Compliance Officer at the US Securities and Exchange Commission.  She discusses the similarities and differences between her government and in-house regulatory experiences, and the importance of specific training and detailed work instructions in highly regulated industries.

Amy also shares how she has built her career, and what she views as important in deciding on taking on a new role. Amy and Lisa also talk about Reshma Saujani’s views about imposter syndrome, rather than looking at the reasons someone feels like an imposter and questioning the concept and how it impacts women.

Key Highlights:

  • Regulatory Compliance in the Government and in the Private Sector
  • Regulatory Compliance Through Monitoring and Training
  • Navigating Evolving Financial Regulations
  • Questioning the Imposter Syndrome

Join the Great Women in Compliance community on LinkedIn here.

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Great Women in Compliance

Great Women in Compliance – Christina Marshall on Global Compliance Leadership

Welcome to the Great Women in Compliance Podcast. In this episode, we visit Christina Marshall, an experienced ethics and compliance leader with extensive experience working with US and foreign regulators. Her expertise is in fraud and corruption investigations, risk assessments, and operationalizing compliance in complex global organizations. She currently leads the Oracle EMEA Compliance team, which is responsible for driving compliance through Europe, the Middle East, and Africa. She is a US-trained litigator with a Juris Doctor from Fordham University School of Law.

Christina has worked in private practice as well as as a senior counsel within the Division of Enforcement at the Securities Exchange Commission, which is responsible for investigating violations of the FCPA. Her extensive experience also includes teaching as a professor of Securities Regulation, White Collar Crime, Corporations and American Law. Based on her extensive experience, Christina is highly skilled in investigating procurement fraud, money laundering, and corruption, leading risk assessments, and creating preventative compliance practices.

Christina’s perspective on compliance best practices is that it should function as a partnership with the business, focusing significantly on transparency and support for business leaders, rather than acting as the ‘police’. Her knowledge in this area has been shaped by her prior experience at the US Securities and Exchange Commission’s Division of Enforcement and her extensive engagement with regulators worldwide. Additionally, her time spent teaching law in Russia has enriched her global perspective. She emphasizes the necessity of involving business partners in risk mitigation, with an emphasis on fostering trust and respect, particularly during challenging investigations.

Key Highlights:

  • Collaborative Approach to Achieving Compliance Goals
  • Efficient Risk Management Through Practical Prioritization
  • Fostering Trust Through Investigative Transparency
  • Encouraging Curiosity and Open Communication Culture
  • Global Compliance Strategies in Multinational Operations
  • Tailoring Compliance Programs for Regional Teams
  • Enhancing Compliance Practices Through Root Cause Analysis
  • Enhancing Efficiency Through Clear Communication

Resources:

Join the Great Women in Compliance community on LinkedIn here.

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Great Women in Compliance

Great Women in Compliance – Alejandra Montenegro Almonte on Workplace Culture and Compliance

Welcome to the Great Women in Compliance Podcast. In this episode, Lisa visits with Alejandra Montenegro Almonte, who is a member at Miller & Chevalier and is the Chair of their International Practice and Practice Co-Lead, Workplace Culture. Prior to joining Miller & Chevalier, she was General Counsel for the North American and Latin American Division at Gategroup and an associate at Weil, Gotshal & Manges.  Alejandra has won awards and recognition from Chambers, Best Lawyers in America and Latin America, among others.

In this episode, Alejandra discusses her experience in global ethics and compliance programs, from advising on best practices to workplace investigations.  Alejandra has leveraged her experience in-house and at law firms to provide practical advice and explains her approach to advising clients.

Alejandra also provides insight on her experiences with monitorships, as she has advised clients in monitorships and acted as a monitor.  She talks about the importance of a proactive relationship between the monitor and the organization, as well as some thoughts about best practices for communications and meetings.

She applies a similar set of principles to all of her work, focusing on learning about a business, including its market dynamics and risks, as part of building the best program for that organization.  She uses that as a foundation for her work on program enhancements and on how to conduct workplace investigations.

As this is Women’s History Month, Alejandra provides some ideas on how we can best support women and diversity in our workplaces.

Key Highlights:

  • Building Global Ethics & Compliance Programs
  • Experience in Monitorships as an Advisor and a Monitor
  • Providing Practical Advice on Compliance Risks
  • Cultural Nuances in Global Workplace Dynamics
  • Insights During Women’s History Month

Resources

Join the Great Women in Compliance community on LinkedIn here.

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Compliance Week Conference Podcast

Compliance Week 2024 Speaker Preview Podcasts – Lisa Fine Chairs the Women in Compliance Brunch N’ Learn

In this episode of the Compliance Week 2024 Speaker Preview Podcasts series, Lisa Fine discusses the panel she will chair at Compliance Week 2024, “Women in Compliance.”Some of the issues she will discuss in this podcast and her presentation are:

  • Getting on Boards
  • Mobility for women in compliance and beyond
  • Seeing old friends and making new ones at Compliance Week 2024

I hope you can join me at Compliance Week 2024. This year’s event will be held April 2-4 at The Westin Washington, DC, Downtown. The line-up for this year’s event is first-rate, with some of the top ethics and compliance practitioners around.

Gain insights and make connections at the industry’s premier cross-industry national compliance event, offering knowledge-packed, accredited sessions and take-home advice from the most influential leaders in the compliance community. Back for its 19th year, join 500+ compliance, ethics, legal, and audit professionals who gather to benchmark best practices and gain the latest tactics and strategies to enhance their compliance programs. Compliance, ethics, legal, and audit professionals will gather safely face-to-face to benchmark best practices and gain the latest tactics and strategies to enhance their compliance programs, among many others, to:

  • Network with your peers, including C-suite executives, legal professionals, HR leaders, and ethics and compliance visionaries.
  • Hear from 80+ respected cross-industry practitioners who are CEOs, CCOs, regulators, federal officials, and practitioners to help inform and shape the strategic direction of your enterprise risk management program.
  • Hear directly from panels on leadership, fraud detection, confronting regulatory change, abiding by cross-border rules and regulations, and the always-favorite fireside chats.
  • Bring actionable takeaways to your program from various session types, including cyber, AI, Compliance, Board obligations, data-driven compliance, and many others, for you to listen, learn, and share.
  • Compliance Week aims to arm you with information, strategy, and tactics to transform your organization and career by connecting ethics to business performance through process augmentation and data visualization.

I hope you can join me at the event. For information on the event, click here. As an extra benefit to listeners of this podcast, Compliance Week is offering a $200 discount on the registration price. Enter the discount code TFOX2024 for $200 off.

The Compliance Week 2024 Preview Podcast series is a production of the Compliance Podcast Network. Compliance Week is the sponsor of this series.

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Great Women in Compliance

Great Women in Compliance – Sabrina Segal on Reimagining Risk Management

Welcome to the Great Women in Compliance Podcast. How can we reimagine risk management? In this episode, Hemma Lomax visits Sabrina Segal, a seasoned third-sector integrity risk and compliance advisor with a legal background. Sabrina is currently in Rwanda as part of an international development and humanitarian assistance team. She hosts Tolerable Risk, a podcast about integrity and compliance in the third sector.

Sabrina shares her perspective on compliance and risk management in the third sector, which is inherently high-risk, largely due to its operation in areas where the private sector may not see value and where government regulation has failed. Sabrina believes that traditional approaches to risk management, which are quantitative-heavy and designed for industries like finance and oil and gas, are unsuitable for the third sector, requiring a more accessible qualitative approach for diverse stakeholders. Drawing from an array of global experiences, Sabrina emphasizes the need for bespoke approaches tailored to the specific needs and constraints of small and medium-sized charities and nonprofits. Sabrina has developed an objective-centered risk management approach for the third sector based on work from her mentor, Timothy Leech. Objective-centered risk management focuses on facilitating the achievement of organizational objectives, collaborating to identify threats and opportunities, and directly influencing decision-making. Sabrina’s compliance and risk management work is designed to improve organizations’ overall programming and impact in the third sector. Still, it has many applications in the private sector and corporate compliance.

Key Highlights:

  • Tolerable Risk Podcast on Tailored Risk Management for Nonprofits

  • Navigating High-Risk Environments: Third Sector Compliance

  • Objective-Driven Risk Analysis and Decision-Making

  • Comprehensive Risk Management Strategy with Active Monitoring

  • The Importance of Involving Stakeholders in Risk Management

  • Quantitative tools and trust in data for risk management

  • Advocacy and Inclusion in Restorative Justice

Resources:

Join the Great Women in Compliance community on LinkedIn here.

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Blog

Tailored Risk Management in the Third Sector

Compliance and risk management are crucial aspects of any organization; the third sector is no exception. In this week’s episode of Great Women in Compliance, hosted by Hemma Lomax, she visited with Sabrina Segal on compliance and risk management in the third sector. The third sector, which includes charities and nonprofits, operates in areas where the private sector doesn’t see value and where government regulations have failed. As a result, risk management becomes even more crucial in these high-risk environments with limited resources.

Sabrina Segal is a seasoned third-sector integrity risk and compliance advisor with a legal background, currently based in Rwanda as part of an international development and humanitarian assistance team. Her perspective on compliance and risk management in the third sector is that it is inherently high risk due to its operation in areas where the private sector does not see value and where government regulations have failed. Segal believes that the current risk management approaches, which are quantitative-heavy and designed for industries like finance and oil and gas, are not suitable for the third sector, which is more qualitative-heavy.

Drawing from her experiences, she emphasizes the need for bespoke approaches tailored to the specific needs and constraints of small and medium-sized charities and nonprofits. Segal has developed a strategy called objective-centered risk management for the third sector, which focuses on achieving objectives, identifying threats and opportunities, and directly influencing decision-making, viewing her work in compliance and risk management to improve organizations’ overall programming and impact in the third sector.

Segal advocates for an objective-centered approach to risk management in the third sector. This approach focuses on achieving objectives rather than simply creating static risk registers and matrices. By tying risk analysis directly to objectives, organizations can better understand the impact of uncertainty on their goals and make informed decisions. This approach also integrates risk management into project management, recognizing the dynamic nature of risks and their effect on objectives.

Compliance and risk management are essential for any organization, but they are significant in the third sector. Non-profit organizations often rely on public trust and funding, making it crucial to maintain a strong reputation. Compliance ensures that organizations adhere to legal and ethical standards, while risk management helps identify and mitigate potential threats to the organization’s mission and sustainability.

Another approach highlighted by Segal is Active Monitoring and Mitigation. This approach involves identifying and addressing threats and opportunities to achieve objectives. By mapping the causes of these threats and opportunities, organizations can implement active monitoring or mitigation steps to minimize risks and maximize opportunities.

One of the challenges faced by the third sector is the lack of quantitative data for risk analysis. While the finance or oil and gas industries can rely on quantitative tools such as Monte Carlo simulations or Bayesian statistics, the third sector often deals with qualitative data and dynamic systems. Segal emphasizes the need for bespoke approaches that work well for charities and nonprofits, tiny and medium-sized organizations with limited resources. She suggests using quantitative tools where possible and creating data trust in the third sector to improve risk management advice. Organizations can identify and assess potential risks more effectively using data-driven approaches. Risk matrices, statistical analysis, and predictive modeling can help quantify risks and prioritize them based on their likely impact. This allows organizations to allocate resources efficiently and make informed decisions to mitigate risks.

Active monitoring and mitigation involve continuously monitoring potential risks and proactively addressing them. Rather than waiting for risks to materialize, organizations in the third sector should adopt a proactive approach. This includes regular assessments, monitoring key performance indicators, and implementing control measures to prevent or minimize the impact of identified risks. By actively monitoring and mitigating risks, organizations can ensure the smooth operation of their programs and protect their stakeholders.

Risk analysis should be closely tied to an organization’s objectives in the third sector. By aligning risk analysis with objectives, organizations can prioritize risks that have the most significant potential to hinder the achievement of their mission. This involves identifying the risks that could impact the organization’s ability to deliver its programs or services. By linking risk analysis to objectives, organizations can develop targeted strategies to manage and mitigate these risks, ensuring the successful fulfillment of their mission.

In addition to risk management, compliance is another critical aspect of the third sector. Segal highlights the role of lawyers and compliance professionals in ensuring restorative justice and breaking the cycle of vengeance. By including all stakeholders and giving voice to the voiceless, lawyers and compliance professionals contribute to the success of restorative justice initiatives and create durable solutions in post-conflict environments.

Overall, compliance and risk management in the third sector require tailored approaches that consider charities and nonprofits’ unique challenges and limited resources. By focusing on objectives, actively monitoring and mitigating risks, and considering unforeseen risks, organizations in the third sector can improve their programming and significantly impact the communities they serve.