In today’s edition of Daily Compliance News:
Tag: risk
Compliance into the Weeds is the only weekly podcast which takes a deep dive into a compliance related topic, literally going into the weeds to more fully explore a subject. This week Matt and Tom take a deep dive into the recent grounding of the Ever Given in the Suez Canal, which has now been floated free. What does it mean from the risk management and compliance perspective? Some of the issues we consider are:
- What were the controls in place to stop this failure?
- What changed which rendered these controls ineffective and even obsolete?
- What is your risk program around supply chain disruption?
- Was this a Black Swan event?
- What does this mean for compliance officers?
Resources
Matt’s blog post on Radical Compliance:
Less Ever Given on Risk and Control
The bank effect and the big boat blocking the Suez, Brendan Greely in the FT
Compliance into the Weeds is the only weekly podcast which takes a deep dive into a compliance related topic, literally going into the weeds to more fully explore a subject. This week Matt and Tom take a deep dive into the 2021 PwC Global CEO Survey, including its findings about digital transformation of business processes and risk management. Some of the issues we consider are:
- What are the top risks CEOs are worried about in 2021?
- How has that list changed since 2020?
- What is the digital transformation of business process and risk management?
- How will compliance response to these new risks?
- What does this mean for compliance officers?
Resources
Matt’s blog post on Radical Compliance:
Thoughts from CEOs
In this episode, we discuss the key role Board of Directors around oversight of strategy and risk. Mutual of Omaha Insurance Company and Virtus Investment Partners. She is a thought leader, regular contributor, and speaker on governance, strategy, and leadership. Prior to her board service, Ms. Hooda held senior operating roles at TIAA, Credit Suisse Investment Bank, Thomson Reuters, and McKinsey & Co. across the US, Europe, and Asia/India. Ms. Hooda is a lifetime member of the Council on Foreign Relations and serves on boards focusing on Education, Women’s Empowerment, and Global Policy. The Board of Directors has a key role in the oversight of strategic risk for an organization.
Legal Risk Management Specialized Studies Certificate Program for UCI Extension, where she teaches for that program and the Contract Management Certificate Program. She has published articles on various business law matters, most recently for the National Contract Management Association’s Contract Management Magazine May 2015 issue, as well as for the National Center for State Courts and the Aerospace and Defense Forum. Every corporation and compliance practitioner faces a wide variety of risks. These include regulatory risks, legal risks, reputational risks, safety risks, environmental risks, and many other types of risks. We consider whether there is one process or approach to take to the over-arching concept of risk management or if the approach needs to be fined tuned by an organization. We discuss the Legal Risk Management Specialized Studies Certificate Program, including the program benefits and who should attend. We explore the approach to teaching risk management. We discuss some of her current initiatives on the study of and teaching of risk. In this episode, I discuss with Virginia Suveiu the theories of risk and the process of risk management.
Fitting the Fraud Triangle to Wells Fargo
For more on the Wells Fargo, compliance and ethics disaster, see the following:
[tweet_box design=”default” url=”http://wp.me/p6DnMo-2LH” float=”none”]Learn how the fraud triangle works for a the Wells Fargo and a variety of other corporate scandals.[/tweet_box]]]>
