Welcome to Data Driven Compliance. In this podcast, we 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 Tom Fox as he explores how data will drive your compliance program to the next level. This podcast is sponsored by KonaAI.
I recently had the opportunity to visit with Vince Walden, founder and CEO of KonaAI, for a podcast series on the uses of data driven compliance. Over these five podcasts, we will discuss generative AI and ChatGPT in compliance, the profiles of a corrupt payment, making the business case for data-driven compliance, what to ask for and how to ask for it, and some success stories. In Part 4, we discuss what data a CCO needs to ask for and how to do so.
Vince Walden brings knowledge and experience in continuous compliance monitoring and risk assessment processes. Walden’s perspective on the topic is that it should be approached as a journey, not a one-time program. He emphasizes the importance of proactive risk assessments and continuous monitoring, advocating for an iterative approach demonstrating constant improvement in compliance efforts. This perspective is shaped by his belief that meeting regulatory expectations requires a diligent and ongoing commitment to improvement.
Walden also suggests that data sources should be identified based on the results of the fraud risk assessment and that the ease of obtaining the data should be considered when prioritizing analytics projects. To delve deeper into what data a CCO should ask for and how to ask for it, join Tom Fox and Vince Walden on this Data Driven Compliance podcast episode.
Key Highlights:
- Continuous improvement through risk assessments and monitoring
- Effective risk assessment through diverse data sources
- Uncovering hidden relationships through expense categories
Resources:
Connect with Vince Walden on LinkedIn
Check out Kona AI
Connect with Tom Fox on LinkedIn
