Tag: risk

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Principled Podcast

S11E1 | The Foundational Importance of Risk: E&C Program Effectiveness in 2024

What you’ll learn on this podcast episode

As geopolitical events, new technology, and regulatory developments increase the severity and frequency of risks, E&C programs are focused on their risk mitigation efforts. At LRN, a central lesson from over 10 years of primary research is that values-based programs are not only the most effective, but also correlate strongly with reduced risk and better business outcomes. But how exactly are E&C programs evolving in response to this increasingly complex risk landscape? And what do global best practices look like going into 2024? In this episode of the Principled Podcast, host Amy Hanan discusses key findings from the 2024 global edition of LRN’s annual Ethics & Compliance Program Effectiveness Report with Juliana Rodrigues, the global chief compliance officer at Coty.

Get a copy of the global edition of LRN’s 2024 Ethics & Compliance Program Effectiveness Report. 

Guest: Juliana Rodrigues

Juliana Rodrigues – Grayscale

Juliana Rodrigues is the global chief compliance officer at the beauty and personal care product manufacturing organization Coty. In this role, she deploys, controls, and defines strategies for the company’s global ethics and compliance program—including a global data privacy program—across the Americas, APAC, and EMEA regions. Juliana has over a decade of experience working in multinational companies with an emphasis on leadership of regional E&C areas, reporting to C-suite executives, and providing strategic support and advice on compliance matters. Prior to joining Coty, Juliana spent seven years at Louis Dreyfus Company as a compliance officer, responsible for the trade compliance and regulatory compliance issues for the company in Latin America. She holds a Master of Laws from the University of California, Davis School of Law and a MBA from Brazil’s Fundação Getulio Vargas (FGV).  

Host: Amy Hanan

Amy Hanan – Grayscale

Amy Hanan is the chief marketing officer at LRN. A B2B digital marketing leader, Amy has a nearly 20-year track record in product, brand, lifecycle, and demand-generation marketing as well as corporate communications for media, professional services, and technology companies. One of her central areas of expertise is executing tech-enabled marketing initiatives for growth. Before joining LRN, Amy was the chief digital officer at Baretz+Brunelle, a marketing and communications agency serving the legal and financial services industries. Her previous experience includes Reorg Research, ALM Media and The Associated Press. She holds a Bachelor of Arts degree from Northern Arizona University.

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Daily Compliance News

Daily Compliance News: August 1, 2023 – The Accident Waiting to Happen Edition

Welcome to the Daily Compliance News. Each day, Tom Fox, the Voice of Compliance brings to you compliance-related stories to start your day. Sit back, enjoy a cup of morning coffee, and listen in to the Daily Compliance News. All, from the Compliance Podcast Network. Each day we consider four stories from the business world, compliance, ethics, risk management, leadership, or general interest for the compliance professional.

  • Binance founder draws scrutiny from German regulator. (WSJ)
  • Lead FBI agent talks about Householder case. (Columbus Dispatch)
  • US asks SCt to delay Purdue Pharma settlement. (Reuters)
  • eBike for adult or motorcycle for kids: disaster in the offing. (NYT)
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Trekking Through Compliance

Trekking Through Compliance: Episode 50 – Patterns of Force

 

In this episode of Trekking Through Compliance, we consider the episode  Patterns of Force which aired on February 16, 1968, and occurred on Star Date 2534.

When the Enterprise approaches the inner planet Ekos to investigate the cessation of communication with researcher John Gill, it is attacked with a rocket carrying a nuclear weapon. Kirk and Spock beam down to investigate and discover that a Nazi movement has swept the planet. John Gill is their leader.

They are captured, and in jail, they find that the Nazi movement began with the arrival of Gill. They escape and penetrate Nazi headquarters. They discover that Gill is only the drugged puppet of deputy Führer Melakon. Gill and Melakon are killed. Kirk and company then return to the Enterprise in peace.

Compliance Takeaways:

1.     What happens when good men go bad?

2.     Your own sales force can be the best assessor of risk.

3.     Why is regime change such a prescient risk?

Resources

Excruciatingly Detailed Plot Summary by Eric W. Weisstein

MissionLogPodcast.com

Memory Alpha

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Trekking Through Compliance

Trekking Through Compliance – Episode 23 – A Taste of Armageddon

In this episode of Trekking Through Compliance, we consider the episode A Taste of Armageddon, which aired on February 23, 1967, Star Date 3192.1.

The Enterprise arrives at Eminiar VII to open diplomatic relations. Unfortunately, the Enterprise is declared destroyed by a tri-cobalt satellite explosion from Vendikar, and all persons aboard the Enterprise are ordered to report for disintegration within 24 hours.
Kirk manages to tell Scotty to issue General Order 24 (destruction of the planet) in two hours. Kirk then overpowers his guards and is joined by Spock. They destroy the central computer. This nullifies the treaty with Vendikar and initiates a real war unless Anan 7 agrees to make peace with its ancient enemy. Now faced with the grisly consequences of a real war, Anan agrees, and Fox offers to mediate the negotiations. As the Enterprise heads towards Organna 2, Fox reports from Eminiar VII that the outlook is hopeful.

Compliance Takeaways:

1.     When did you last assess your risks?
2.     Make sure your compliance communications are clear.
3.     If you discipline, make sure it is proportional.

Resources:

Excruciatingly Detailed Plot Summary by Eric W. Weisstein for A Taste of Armageddon
MissionLogPodcast.com- A Taste of Armageddon

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Trekking Through Compliance

Trekking Through Compliance – Episode 18 – Arena

In this episode of Trekking Through Compliance, we consider the episode Arena, which aired on January 19, 1967, Star Date 3045.6.

 The Enterprise arrives at the Cestus III Outpost by invitation of its commanding officer, but the crew finds the outpost obliterated and then under attack from an unknown vessel. Both ships enter a new space sector and lose all propulsion power shortly after. Enterprise is contacted by the Metrons, who announce they will pit the respective captains in a one-to-one battle to the death. Kirk is transported to the planet’s surface along with the other captain of the Gorn.

Kirk attempts to communicate with the Gorn but has not received a response. Kirk lies in wait for the Gorn and fires on him. As Kirk prepares to deal a death blow, he considers the Gorn’s claims that the attack on Cestus III was only self-defense and allowed him to live. Suddenly, the Gorn disappears, and a Metron appears to Kirk, congratulating him on not only winning the battle but showing the advanced trait of mercy for one’s enemy, leading the Metron to comment that “you are still half-savage, but there is hope,” and that the Federation should seek out the Metrons again in several thousand years.

Compliance Takeaways:

1.     Get out, talk, but most importantly, listen.
2.     What causes a regular risk to grow into a high risk?
3.     All due diligence may be required, Even with facts on the ground.

Resources:

Excruciatingly Detailed Plot Summary by Eric W. Weisstein for Arena
MissionLogPodcast.com-Arena

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Trekking Through Compliance

Trekking Through Compliance – Episode 16 – The Galileo Seven

In this episode of Trekking Through Compliance, we consider the episode The Galileo Seven, which aired on January 5, 1967, Star Date 2821.5

The Enterprise passes close to a quasar-like formation identified as Murasaki 312. Kirk sends a science team to investigate the formation. Soon after launch, the shuttle is pulled off course. Spock makes an emergency landing on Taurus II, a rocky, fog-shrouded world in the middle of the Murasaki phenomenon. The crew is attacked, and Spock chooses to attempt to frighten the creatures rather than kill them outright.

Spock then manages to get Galileo off the ground using the shuttle’s boosters. The shuttle has too little fuel to escape the planet’s gravity or achieve a stable orbit, and there is still no way to contact the Enterprise. Spock suddenly dumps and ignites the remaining fuel from the shuttle’s engines. The giant flare he produces is seen on the Enterprise view screen just as the ship has left orbit. The survivors are beamed out.

Back on board the Enterprise, Kirk questions Spock, trying to get him to admit that his final action was motivated more by emotion than logic. Spock refuses but freely admits to stubbornness, at which the rest of the crew burst into laughter.

Compliance Takeaways:

1.     Why sometimes you must adhere to a culture’s traditions.
2.     What is a risk?
3.     You must re-evaluate your risk management strategy as your risks change.

 Resources:

Excruciatingly Detailed Plot Summary by Eric W. Weisstein for The Galileo Seven
MissionLogPodcast.com-Galileo Seven  

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FCPA Compliance Report

FCPA Compliance Report – Scott Solomon on Managing Cash Risk Through Compliance

Welcome to the award-winning FCPA Compliance Report, the longest-running podcast in compliance. Join Tom Fox on the FCPA Compliance Report as he discusses with Scott Solomon, the CEO of Operational Security Solutions (OSS), how they manage compliance and ethical considerations around cash management, particularly for high-risk customers.

In this episode, they talk about the importance of compliance in the financial industry and how OSS helps financial institutions manage their portfolio through best practices. The podcast also touches on the challenges faced by legal cannabis businesses and the gaming industry regarding compliance and cash operations. Listeners will get insights into boutique cash and transit providers’ role in navigating licensing and permitting requirements for cannabis-related cash operations. This informative podcast concludes with contact information and an eagerness to continue the conversation. Don’t miss out on the insights shared in this episode. Tune in now to FCPA Compliance Report with Tom Fox and Scott Solomon.

 Key Highlights:

  • Challenges of Compliance in Handling Cash Transactions
  • Challenges of Compliance in Regulated Industries
  • Cash delivery in the legal cannabis industry
  • Risk Management for Financial Businesses

Notable Quotes

“Our primary customer or partner is a financial institution. So when you look at secure cash management and logistics, it boils down to our specialty is moving cash, and we have the ability in the compliance background to help financial institutions support their high-risk customers.”

“OSS was founded around compliance. A group of former law enforcement personnel, special military operators, and federal regulators got together and saw an opportunity to initially start by consulting.”

“We work with the customer. It doesn’t help us, and it doesn’t help the bank if the customer goes off the rails and becomes non-compliant. So, we want to educate them.”

“I come out of the anti-corruption compliance space; we’ve always looked to the casino world as one of the leaders around AML work simply because it was in their business interest to do.”

Resources

Scott Solomon on LinkedIn

Operational Security Solutions

Tom Fox

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YouTube

Twitter

LinkedIn

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Daily Compliance News

December 31, 2022 – The $296MM Edition

Welcome to the Daily Compliance News. Each day, Tom Fox, the Voice of Compliance, brings you compliance-related stories to start your day. Sit back, enjoy a cup of morning coffee and listen to the Daily Compliance News. All from the Compliance Podcast Network. Each day we consider four stories from the business world, compliance, ethics, risk management, leadership, or general interest for the compliance professional.

Today’s stories include:

  • Business risk to increase in 2023. (WSJ)
  • Bahamas regulator says it holds $296MM in FTX assets. (Reuters)
  • A Texas con artist. (Houston Chronicle)
  • What is good business leadership? (NYT)
Categories
FCPA Compliance Report

FTX and Risk: Part 1 – Financial Institutions

Welcome to the award-winning FCPA Compliance Report, the most senior podcast in compliance. In this episode, I begin a 2-part series on the subjects of FTX and risk. I am joined by Gilbert Paiz and Andrew Gay, principals in the Texas Hill Country Advisors. In Part 1, we consider risk and risk management through the lens of US domiciled financial institutions and how their risk management protocols help to not only assess risk, but manage risk throughout the life cycle of a banking customer relationship. In Part 2, we will consider individual risk in investing and what type of background information, questions and due diligence individuals should engage in and how these questions and background investigations apply equally to larger investments made by sophisticated investors, hedge funds  and institutional investors; who should have made them before investing in FTX but they all failed to do so.

Some of the highlights include:

·      How do banks think of risk?

·      What internal processes or controls are in place to help a bank manage its risks?

·      What types of oversight do banks and financial institutions use to help manage risk?

·      Why are levels of review so critical?

·      How do banks think about customers in terms of risk?

·      Who decides how much risk to allow a customer to engage in with a banks money, whether through loans or other capital?

·      Do bank employees receive ongoing training on risk management issues?

·      What tech is in place to facilitate the management of risk?

 Resources

Texas Hill Country Advisors

Categories
Greetings and Felicitations

Great Structures Week I: Vitruvius, the Brooklyn Bridge and Compliance

Welcome to the Greetings and Felicitations, a podcast where I explore topics that might not seem directly related to compliance but influence our profession. In this special series, I consider many structural engineering concepts are apt descriptors for an anti-corruption compliance program. In this episode 1, I consider the Roman architect Vitruvius and what makes a structure great. Highlights include:

·      The Vitruvius Triad.

·      Compliance Program formulations.

·      What are form, function, and structure

·      Continuous risk and continuous risk management.

·      Risks assessments after Covid 19.

Resources

“Understanding the World’s Greatest Structures: Science and Innovation from Antiquity to Modernity,” taught by Professor Stephen Ressler from The Teaching Company.