Innovation in Compliance with Tom Fox

Legal GRC focuses on the various activities and responsibilities that people who report to legal must carry out, such as data privacy and breach response. In this week’s show, Tom Fox reconnects with Bill Piwonka, Chief Marketing Officer of Exterro, to discuss compliance with data privacy. They discuss the concept of legal GRC, which is a subcategory of the larger umbrella of GRC. They also explore how Exterro's legal GRC software can help companies manage their data effectively and efficiently while ensuring compliance.Prior to Bill Piwonka’s current position at Exterro, he had extensive experience running marketing teams for typically small software companies, helping build them as they grew. His knowledge of both startups and large multinational global organizations, including Intel and Oracle, has given him a unique perspective on the dynamics of different companies. As an expert in compliance and data privacy, Bill's insights and expertise are invaluable to organizations seeking to improve their compliance programs.Key ideas you’ll hear Tom and Bill discuss: Legal GRC is a subcategory of the larger umbrella of GRC that focuses on the various activities and responsibilities that people who report to legal must carry out, such as data privacy and breach response. Understanding where your data is, who owns it, and what regulations apply to it is crucial to effective data management and compliance. Data governance, data security, and data cleansing are key components of ESG, particularly in the G part, and the management of data is a mandatory step under ESG. Having a data inventory and understanding what regulations apply to that data from a retention perspective and disposition is essential to minimizing risk and ensuring compliance with various regulations. The key to minimizing risk and ensuring compliance is to have the processes and technology that enable you to constantly push the deletion button, in accordance with your retention policy. Extero has broad capabilities in eDiscovery, privacy forensic investigation, incident response, and cybersecurity compliance. Its clients include a wide range of professionals, such as IT, legal ops, GC, compliance, privacy, and HR. Regulatory obligations around data security and document turnover are a significant concern for organizations, and Extero's eDiscovery product can help clients comply with government agencies' requirements and store relevant information in their ESI vault. Extero's consent product can help organizations with obtaining and revoking consent across any medium and demonstrate their compliance. Legal departments are now recognizing the need for people, process, and technology to address issues that are now being enforced, especially on the privacy side. Process orchestration gives legal departments the ability to manage, measure, and optimize their processes and ensure defensibility. Extero's marketing strategy is to provide high-quality educational content for the people who would ultimately use their products, such as benchmark surveys, case law alerts, and privacy alerts.  KEY QUOTES"Legal has to be involved in all the different GRC activities." - Bill Piwonka"You have to have the guts to push the deletion button. When you have the processes and the technology that enable you to constantly push that button, you're going to minimize your risk and you're going to ensure compliance across a whole swath of regulations." - Bill Piwonka"If I can help somebody understand how to optimize a data subject access request process or how to conduct a document review more efficiently, and help them do their jobs more effectively - and I do that for five years - they are more productive, they're more efficient, and they like the content that we're creating." - Bill PiwonkaResources:Bill Piwonka on LinkedIn | Twitter  Exterro

"Most successful executives are well aware of meditation and the secret power of it, and that it has a competitive advantage because it can change the way they're thinking, access more levels of creativity and intuition," says Kara Goodwin, a meditation expert and Tom Fox’s guest on the latest episode of Innovation In Compliance. Kara and Tom discuss the transformative power of meditation, the benefits it offers to individuals and companies, and how it can help people find balance and purpose in their lives. She also talks about how meditation can change your brain, reduce anxiety and depression, and unlock your creativity and intuition.Kara Goodwin is a certified meditation teacher, and the host of The Meditation Conversation Podcast. With a corporate background in IT and sales, Kara's journey into meditation began when she moved to Italy and discovered the transformative power of this practice. Since then, she has been helping people develop their meditation practice through coaching, retreats, and online courses. Through her work, she seeks to help individuals and organizations find balance, purpose, and fulfillment in their personal and professional lives. You’ll hear Kara and Tom discuss: Meditation means something different to every person, but to Kara it's existing in a state that's beyond - beyond thoughts, beyond the body, beyond time, and beyond space. Meditation is getting to a state of higher consciousness, where the cycle of daily thoughts does not exist.  Developing a meditation practice changes the brain and the nervous system. It can also translate to a person's state outside of meditation, where they can have a higher perspective on things. It allows them to slow down and not get caught up in the minutiae of the day.  Being able to tell when you're off balance is simply taking mental stock of yourself. "It's just what's showing up for you in your world… It's becoming aware of how we feel and really even having a perspective that has a distance between what we feel and noticing what we feel," Kara says. You can't solve problems when you're operating in the same mindset they were created in. "When we're in problem-oriented consciousness, we're not necessarily going to find the solution for that problem in the same level of consciousness where the problem is," Kara remarks. "It's by raising ourselves into a higher level of consciousness that we can have access to more creative solutions, more holistic solutions, more win scenarios."  Meditation is becoming an important component of mental health for businesses and companies. Kara uses the example of the NFL using meditation tactics to keep themselves calm in the high-stress environment they deal with. In addition, employers caring for their employees can also do more to create better working conditions. Caring for their employees in more holistic ways and seeing them as fully formed human beings, will impact the quality of their work.  Meditation helps nurture whole-brain thinking. Nurturing whole brain thinking and allowing yourself space allows for higher consciousness, which promotes productivity and activity.  KEY QUOTE"When we're in problem-oriented consciousness, we're not necessarily going to find the solution for that problem in the same level of consciousness where the problem is." -  Kara Goodwin “[Meditation] is really getting into that state of a higher mind where we're not so focused on the little ins and outs and details of the day and the cycles of our thoughts.” - Kara Goodwin"Most successful executives are well aware of meditation and the secret power of it, and that it has a competitive advantage because it can change the way they're thinking, access more levels of creativity and intuition." - Kara GoodwinResourcesKara Goodwin | Twitter | Instagram The Meditation Conversation Podcast

In this insightful episode of the Innovation In Compliance podcast, Tom Fox welcomes Zachary Coseglia, the founder of the Ropes & Gray Insights Lab, to talk about the creation of the unique consultancy within the law firm. Zach dives into the challenges of building a team with diverse skill sets and backgrounds for a new function like the Insights Lab. He shares the value of data analytics for compliance, and how it can be used to improve investigations and understand patterns of behavior across the organization. Zach also highlights the complexities of working in-house, including managing relationships and understanding organizational intricacies. With over a decade of experience in the pharmaceutical industry, healthcare, and life sciences, Zach Coseglia built a strong background in investigations, compliance analytics, and digital compliance. During his time as head of investigations in Asia Pacific for Pfizer, he came up with the idea to create an analytics and behavioral science consultancy within a law firm, which led to the birth of the Insights Lab.Key takeaways from the episode include: Building an analytics consultancy within a law firm or compliance department requires investment in technology and human capital. Zach brought together people with diverse skill sets, backgrounds, and experiences to build a team that reflects the needs of the consultancy being created. He combined subject matter expertise of compliance and data analytics to build the team for the Insights Lab. Zach believes that to build a successful analytics consultancy within compliance, it's important to bring in people who have done this work in other industries. He stresses that they can bring unique perspectives and experiences that can drive innovation and progress within the organization. The potential of data analytics to promote a better, stronger compliance program through identifying trends, patterns of behavior, and driving efficiencies. Zach reflects on his experience working in-house and highlights the challenges of managing relationships and understanding organizational intricacies. He stresses the importance of effective relationship building and an intentional and strategic approach to building new capabilities or functions within an organization. Compliance is a deeply human discipline that involves shaping human behavior through policies, procedures, training, and programs. Behavioral science, cultural psychology, and behavioral economics play a critical role in compliance and ethics work. Compliance programs that only focus on rules are short-sighted. Human-centered design is a powerful approach to building effective compliance programs that engage with people and amplify their voices. KEY QUOTES:"I think that there's a huge opportunity for us to embrace behavioral science, to embrace a more scientific point of view, to embrace the world of data in ways that actually advance our profession." - Zach Coseglia“With all of the data we had available to us, we have this opportunity to understand human behavior in ways that go beyond just the rules.” - Zach Coseglia“I have felt for a long time that compliance is being treated - has been treated - as this exclusively legal, regulatory, enforcement-related exercise oftentimes led by lawyers, when in fact, compliance is a deeply human discipline.” - Zach CosegliaResources:Zach Coseglia at R&G Insights Lab | LinkedIn Ropes & Gray Insights Lab | Podcast: There Has to Be a Better Way?

Jag Lamba, founder and CEO of Certa, builds no-code third-party lifecycle platforms. Jared Ezzell, Certa’s Chief Customer Officer, brings 20+ years in risk and compliance. They discuss reducing reliance on self-disclosure using data and automation. They cover integrated due diligence, continuous monitoring, payment controls, charitable-donation checks, and modular tech rollouts for fast time-to-value.

Tom Fox’s guest in this episode of Innovation In compliance is Adrienne Bellehumeur. They discuss the significance of gap analysis in the design of internal controls, and why having a thorough understanding of design is critical to the success of gap analysis. They emphasize the importance of continuous improvement and avoiding a "pass-fail" approach to internal control programs. Adrienne also shares her five principles for creating high-value compliance programs.Adrienne Bellehumeur is the Director and Co-owner of Risk Oversight, a firm specializing in internal controls, internal audit, and compliance programs. She has written a book called The 24-Hour Rule and Other Secrets for Smarter Organizations: Including the 6 Steps of Dynamic Documentation, which is set to be published on March 7th and is geared towards managers who are seeking solutions through documentation. This book aims to provide a fun and foundational approach to documentation for the modern knowledge workforce and is the first mass-market book on documentation best practices.Some of the key points discussed during the show include: Adrienne's background and current role at her company, Risk Oversight, which specializes in delivering services to mid-sized oil and gas companies in the engineering sectors. The purpose of gap analysis is to identify areas for improvement in processes and controls to support operational effectiveness. Adrienne's belief that internal controls should focus on good habits, accountability, and continuous improvement rather than just ticking boxes. How Risk Oversight helps companies fulfill their obligation of oversight by providing entity-level control review and understanding best practices in governance. The two best practices for board minutes, the "Goldilocks principle" and the "business judgment rule." The Caremark doctrine in Delaware and the importance of documentation of major risk management decisions. Adrienne's book The 24-Hour Rule, which is a mass-market book on documentation aimed at managers looking to solve problems through documentation and is applicable to various industries. KEY QUOTATION:“Risk management is about action.” – Adrienne Bellehumeur Resources Adrienne Bellehumeur | LinkedIn | Twitter Risk Oversight |  The 24-Hour Rule and Other Secrets for Smarter Organizations: Including the 6 Steps of Dynamic Documentation

What are some of the challenges facing board members in providing meaningful oversight? Christina Bresani, head of William Blair’s Corporate Advisory Team, is here to share her take. Host Tom Fox and Christina are going to delve into the current state of the corporate world, touching on the challenges faced by boards of directors. They'll also discuss the increase of unsolicited offers and the importance of being prepared for them. This is a thought-provoking conversation that will shed light on the current landscape of the corporate world.Christina Bresani is a seasoned investment banker with over 25 years of experience. She joined UBS right after graduation from Wellesley College where she studied economics and Spanish. After 20 years at UBS, she joined William Blair and currently leads the Corporate Advisory Team, a team that focuses on advising public companies on all things mergers and acquisitions.Key points you’ll hear them discuss: Christina tells Tom, “About 85% of the transactions that we're seeing right now start with an unsolicited proposal.” They are advising clients on being prepared for unsolicited proposals and valuations in an uncertain market. How William Blair works with clients to optimize their portfolio and their process for evaluating selling or spinning off businesses. ESG is a focus area for boards. It’s now considered a "must-have" and not a "nice-to-have". Boards and management teams focus on ESG as a day-to-day part of their decision-making process. Christina is happy to see companies take a more holistic oversight around ESG at the board level. There has been an increase in shareholder activism and companies are worried about it and seeking help in preparing for it. “Ultimately, what companies need to be thinking about is how to create shareholder value,” Christina tells listeners. This is what should be top of mind for boards going forward, she remarks. KEY QUOTE:“There are always intertwined relationships between boards and companies, and the real goal is to get all the brains together in a room to figure out if a deal makes sense for both sets of shareholders.” - Christina BersaniResourcesChristina Bresani on LinkedInWilliam Blair

This week’s guests are Evgeny Likhoded, CEO and founder, and Vladimir Ershov, Head of Data Science, of Clausematch. They join Tom Fox to talk about a groundbreaking new innovation, the Digital Knowledge Graph in open source. Learn how this game-changer is revolutionizing the way compliance is managed and what it means for industries, companies, and governments around the world.Evgeny Likhoded is the CEO and founder of Clausematch, a global compliance and regulatory technology company. He started Clausematch to digitize and structure regulation and help regulators to innovate in the space. Jay has worked to solve a common problem in compliance - managing compliance documents and compliance content. He has brought all of the workflow and content management under one platform to provide compliance professionals a way to collaborate on content in real time.Vladimir Ershov is the head of Data Science at Clausematch. He has been working in the field of data science for four years and previously worked at Apple. Vladimir is passionate about semantic linkage for law documents and was excited to join Clausematch four years ago to continue his work in this field.You’ll hear them discuss: The process of developing the Clausematch Knowledge Graph took a year with involvement from multiple teams and experts in the regulatory field.The process included discussions with regulatory experts, data preparation, model training and evaluation, and integration with Clausematch's tools. The key idea behind Clausematch was to capture data in a structured form from the start, allowing for more to be done with the data. Clausematch was pitched to several financial services regulators, including FCA and ADGM, as a platform for tagging regulation text through expert work and machine learning models. The open source Knowledge Graph generated by Clausematch can be used by other companies and regulators to automatically analyze regulations. The structured regulations can also be applied to a financial institution's internal compliance documents to identify gaps and contradictions in their policies. The Knowledge Graph helps digitize the meaning of regulations.  The models can be used to look for patterns in regulations and to show regulators if internal policies are compliant with regulatory rules. The ultimate goal is a world where every regulation is structured and consumable via API. The release of the Knowledge Graph in open source will help reach the goal faster. Knowledge Graph technology is relevant to compliance technology. Historically, compliance solutions have been focused on formalizing rules and processes into a framework through manual means. Knowledge Graph technology automates the process of structuring data and extracts entities and obligations to form the framework. Neural network models or reinforcement learning agents can be run on top of the extracted graph to look for compliance patterns. The knowledge graph technology will be available on Clausematch.com and GitHub, and a scientific paper with more information will be released. The graph structure is important in compliance due to the need for exact inference in compliance, unlike the correlation approach in language models like GPT. KEY QUOTATIONS: "There is a principal flow in the models like ChatGPT and other language models which are based on correlation approach... [but] in the compliance field we need causation, we need exact inference and that's why the graph structure is extremely important to be able to build the automation for the compliance." - Vladimir ErshovResources Evgeny Likhoded | LinkedIn Vladimir Ershov | LinkedIn ClausematchKnowledge Graph Information

Tom Fox hosts Ben Seals, CEO of Thomas Eye Group, on this episode of Innovation In Compliance. They delve into the company’s innovative approach to employee, customer, and business process experience. They also talk about how technology is changing how businesses operate and how it will impact healthcare in the future. As the CEO of Thomas Eye Group, a full-service eye care provider, Ben Seals brings a wealth of experience to the table. With a background in operations, customer service, payor/provider contract relations, and acquisition integration, he has a diverse set of skills that he leverages to oversee the execution of the company's strategic vision. At Thomas Eye Group, the mission is to provide a lifetime of outstanding eye care, with a focus on sustainable growth that prioritizes patient care. Here are some key points Tom and Ben discuss: Ben talks about his professional background and his current role at Thomas Eye Group. Thomas Eye Group was recently awarded with the ModMed Innovation Award, for their innovation in healthcare and patient-centric approach. Ben tells Tom that they have improved customer communication by enabling patients to easily schedule and reschedule appointments online, streamlining the process and reducing time spent in the office. With ModMed, doctors can access patient data through a single platform, which addresses the issue of disparate information across several systems, allowing them to make better, more informed decisions and engage with patients during face-to-face conversations. Ben explains that ASC has improved customer experience by using the Modmed ASC platform. The need to transfer paperwork between different sites has been eliminated as it is fully integrated with the practice management system, allowing for seamless coordination of care and electronic consent forms to be shared with patients. Ben explains ModMed Pay and Text to Pay and what methods were used to be able to improve efficiency in the payment process, both in pre-visit and in post visit payments. By using a text message feature, patients are informed about their balance with insurance companies and asked for payments, resulting in a significant increase in the number of payments made. Ben describes what new innovations he sees down the road for Thomas Eye Group and ModMed.  KEY QUOTATION:“The ability to text patients real time, have a cadence of communication and ask for receipt of those payments delivered significant results for our revenue cycle team.” - Ben SealsResources Ben Seals | LinkedIn Thomas Eye GroupModMed

Welcome to a special five-part podcast series on Operationalizing Your Compliance Program, sponsored by Broadcat LLC. Over this series, we consider a variety of ways to more fully operationalize your compliance regime, including the design and effectiveness of your communications, why the operationalization of compliance is a team sport, why simply data is not the answer and how to avoid being overwhelmed. In our Part 5 conclusion, I am joined by Taylor Edwards to discuss how compliance professionals can prevent from being overwhelmed by all of ‘this’. Highlights from this episode include:·      Unpack your program through critical examination. ·      Know your history and understand how you got where you are. ·      Face data but do not be paralyzed by it. . ·      It’s about being real and accountable. For more information go to TheBroadcat.com

Welcome to a special five-part podcast series on Operationalizing Your Compliance Program, sponsored by Broadcat LLC. Over this series, we consider a variety of ways to more fully operationalize your compliance regime, including the design and effectiveness of your communications, why the operationalization of compliance is a team sport, why simply data is not the answer and how to avoid being overwhelmed. In Part 4, I am joined by Alex Klingelberger, CEO at Broadcat where we take a deep dive into effectiveness. Highlights from this episode include:·      Compliance training must stay away from patronizing training material. ·      The DOJ pronouncements on clawbacks puts the pressure on senior management. ·      Bilateral communications is a critical component of a best practices compliance program. ·      Compliance engagement is more than between your compliance function and employees. It is when employees engage each other about compliance topics as well. For more information go to TheBroadcat.com