Innovation in Compliance with Tom Fox

Tom Fox welcomes Ian Foxley to this week’s episode of the Innovation in Compliance Podcast. Ian is well-known for his work as a whistleblower in the Airbus GPT corruption scandal in Saudi Arabia, and is now the founder and CEO of Parrhesia Inc. In this episode, Tom and Ian Tom Fox welcomes Ian Foxley to this week’s episode of the Innovation in Compliance Podcast. Ian is well-known for his work as a whistleblower in the Airbus GPT corruption scandal in Saudi Arabia, and is now the founder and CEO of Parrhesia Inc. In this episode, Tom and Ian talk about why individuals have a hard time speaking up, what needs to change within organizations, and what needs to be done to protect whistleblowers.  Parrhesia Parrhesia is the principle of affording protection by the powerful to the vulnerable in exchange for vital information. It is this principle that Ian founded his company on. It is also a principle that Ian finds to be absent from the modern business world. "If you don't allow people to question what rulers are doing you end up with autocracy," he tells Tom. People need to be allowed to ask questions, and if the situation demands it, whistleblow, so that individuals in charge can take stock of their behaviour and change accordingly. Parrhesia is a social contract between an organization and an individual. Why The Whistle Isn't BlownWhistleblowing is about two things: declaring the information, and guarding the corporate/individual reputation. The number one root cause as to why individuals don't come forward when they have knowledge of corruption is fear. They are scared of losing their jobs, their homes, their health and in some cases their families. Ian lists four other reasons why whistleblowing doesn't occur: Individuals fear that speaking up is not going to be effective. Guilt because of complicity, and fear of possible legal action against themselves. They're not brave enough to, but assuage their guilt by hindering or delaying processes within the organizations. They believe their actions are for the greater good. Change The CultureTom asks Ian what companies can do to alleviate the fear whistleblowers feel so that they can be comfortable with speaking out. "Unless you can change the culture across a number of companies and organizations, the fear will always be present," Ian stresses. There needs to be more positive examples of whistleblowers retaining their careers, their sense of identity, and their sense of worth to society after disclosing wrongdoing, or the culture will never change. The fear will always exist. The education has to change and the organizational mindset has to change. To The Future"In order to change the world, you have to lose your ego," Ian says in response to Tom's question on the future of whistleblowing. In the next phase of corporate existence, whistleblowers have to spread their message. They have to bring people with them and show them that they can fight, and more importantly, win.ResourcesIan Foxley | LinkedIn | TwitterParrhesia Inc

Tom Fox welcomes back Jeffrey Hayzlett to this week’s episode of the Innovation in Compliance Podcast. Jeffrey is the CEO and Chairman of The C-Suite Network. In this episode, Tom and Jeffrey explore where the business world is as the year comes to an end.  The Changing Business CommunityTom asks Jeffrey to reflect on what businesses are responding to now. "That there are no old ways; there are all going to be new ways," he remarks. The mood of business is shifting, and businesses are simply going to have to adapt. There aren't going to be offices in the way they used to be because the pandemic has shown that businesses can operate well remotely. The focus is going to be on how to utilize these new environments in the best way, as well as how to effectively and safely monitor them. Companies are changing the ways they do business as well: before the pandemic content was not a priority; now it is. "You have to be able to use content to drive the business," Jeffrey iterates. Sometimes content will not generate as much money as you did previously, but it will generate engagement and reach more people. "You have to change, adapt, or die," Jeffrey insists. Grow, But Mitigate RiskThe C-Suite Network encourages senior management to mitigate risk as much as possible. Companies have to grow while doing this, however. "If you're not growing, you're dying," Jeffrey tells Tom. Risk is always going to exist in business, but it cannot hinder you as a leader, especially a C-Suite one. "Our job is to be the most strategic people in the room," Jeffrey adds. Asking the right questions, understanding the directions of the CEOs of the companies they counsel, and assessing the processes and tools these companies have, are all part and parcel of how C-Suite leaders think about, and mitigate risk. Where Do We Go From HereTom asks Jeffrey where he sees in-person conference business going in the coming years. "You're either gonna have really small groups or really big ones...not much in between," Jeffrey responds. It's going to be much more difficult in the coming years for speakers to have sustainable careers because of the digital era the world is in, and because audience preferences are changing. "If you're not a subject matter expert, if you're not a celebrity, it's going to be a long road for you as a professional speaker...You're really gonna have to have credentials," he adds. Most people are going to be looking for experts to give them advice on how to move from point A to point B, or for celebrities who can draw people in and help fill a room. "Those are the things that are going to be the key driving factors in the future," Jeffrey concludes. ResourcesJeffrey Hayzlett | LinkedIn | TwitterThe C-Suite Network

Ishan Girdhar is Tom Fox’s guest in this week’s show. He is the CEO and founder of Privva, a cloud-based platform that streamlines data security to enable law firms to easily implement their own risk assessment. Tom and Ishan explore risk management in the new hybrid work era and what compliance professionals need to be thinking about in the coming years in that regard.  The New NormalThe new hybrid work environment is here to stay. More companies are going back to the office but with fewer employees on site. This means that company leaders and compliance officers need to find a way to manage risk around virtual collaboration and communication technologies in a remote work environment. They will need to make sure that all employees are connected in a secure way. "When you have people working from home and working remotely, access to sensitive information grew exponentially… Many people have devices like Alexa or Google Home; those are devices that are recording every conversation that's happening in your home," Ishan cautions. Implementing policies that ensure employees aren't working in the vicinity of these devices and making sure that companies lock-on set intervals, will go a long way in mitigating the risk that is posed from working in this environment.Keep Communications FocusEmployees have to act as stewards and maintain and adhere to company policies surrounding risk and compliance. Tom asks Ishan how he keeps a communications focus in his organization, in a way that doesn't lead to compliance fatigue. Compliance officers need to ensure that they're actively capturing communication across their organizations, and that they have the tools to do so. "Make sure that your tech stack has the right capabilities to capture information and communication across your network," Ishan remarks. Communicating the right ways to work with your clients and employees is also something that companies need to be thinking about. Use the right tools and the right steps to make sure your actions are in line with your internal corporate policies; the compliance departments can have access to that information if it's required. Creating Effective Cybersecurity"Every product that technology brings to make your lives easier, better, faster, and cheaper for your clients comes with cybersecurity risk," Ishan tells Tom. In order to mitigate cybersecurity risk, consistent training of your employees is necessary. Cybersecurity needs to be built into the culture of your organization and is a way for you to do your jobs in a timely and efficient way. Compliance professionals should be on top of what's happening in the market with regard to new threats and risks. Have detailed policy monitoring and reporting requirements, and ensure you're adapting your policies to the new norm. Third-Party RiskTom posits that third-party risk is beyond company to company, and that it's actually the entire scope of your communication. Third-party risk is your suppliers, your partners, and your customers. Companies need to think about where their data is hidden, and where it's going. "How is it leaving your environment? Where is it going? What's the sensitivity of that data?" These are the questions Ishan implores leaders to think about. The biggest challenge with third-party risk management is that you have a say, but you don't have full authority in enforcing change.What's NextBuying technology that will be sustainable going forward is one of the best ways to respond to cybersecurity risks in the coming future. Privacy is also a big challenge that companies are going to face. "Build out your budget and make sure that you have the right investments in place as you continue to grow and continue to go into the future leading up to 2025," Ishan advises Tom and the audience. ResourcesIshan Girdhar | LinkedIn | TwitterPrivva

In October, Deputy Attorney General (DAG) Lisa O. Monaco gave a Keynote Address at ABA’s 36th National Institute on White Collar Crime (Monaco Speech). Monaco’s remarks should be studied by every compliance professional as they portend a very large change in the way the DOJ will utilize monitors going forward. Over this podcast series, sponsored by AMI we will consider why DAG Monaco’s remarks herald a new era for monitorships.Over this podcast series we have considered Monaco’s remarks from a variety of perspectives. Bethany Hengsbach considered this change in monitorships from the white-collar enforcement and defense perspective. Mikhail Reider Gordon looked at global aspects of the new DOJ monitor’s focus. Cristina Revelo discussed how E&C assessments help drive more compliant companies. Jesse Caplan brought his views on the intersection of the twin topics of antitrust and healthcare compliance. In this Episode 5, we conclude our series with AMI founder Vin DiCianni who looks at where monitors currently are and where monitorships are going in 2022 and beyond.Highlights of this podcast include Why monitorships are an appropriate tool for both the DOJ and companies to utilize. Why now is the right time for the DOJ to refocus on the usefulness of monitors and monitorships. Why both monitor selection, and a monitor road map are critical to the success of a monitorship. ResourcesVin DiCianniAffiliated Monitors Inc.

In October, Deputy Attorney General (DAG) Lisa O. Monaco gave a Keynote Address at ABA’s 36th National Institute on White Collar Crime (Monaco Speech). Monaco’s remarks should be studied by every compliance professional as they portend a very large change in the way the DOJ will utilize monitors going forward. Over this podcast series, sponsored by AMI we will consider why DAG Monaco’s remarks herald a new era for monitorships.Over this podcast series we have considered Monaco’s remarks from a variety of perspectives. Bethany Hengsbach considered this change in monitorships from the white-collar enforcement and defense perspective. Mikhail Reider Gordon looked at global aspects of the new DOJ monitor’s focus. Cristina Revelo discussed how E&C assessments help drive more compliant companies. Vin DiCianni looks at where monitors and monitorships are going in 2022 and beyond. In this Episode 4, Jesse Caplan brought his views on the intersection of the twin topics of antitrust and healthcare compliance.Highlights of this podcast include What is the intersection of healthcare and antitrust compliance? Why compliance and ethical culture have become so important from a regulatory perspective, a commercial perspective and a talent acquisition and maintenance perspective? How and why are States’ Attorney Generals using monitorships with greater frequency and focus. ResourcesJesse CaplanAffiliated Monitors Inc.

In October, Deputy Attorney General (DAG) Lisa O. Monaco gave a Keynote Address at ABA’s 36th National Institute on White Collar Crime (Monaco Speech). Monaco’s remarks should be studied by every compliance professional as they portend a very large change in the way the DOJ will utilize monitors going forward. Over this podcast series, sponsored by AMI we will consider why DAG Monaco’s remarks herald a new era for monitorships. We will consider Monaco’s remarks from a variety of perspectives. Bethany Hengsbach will consider this change in monitorships from the white-collar enforcement and defense perspective. Mikhail Reider Gordon will look at global aspects of the new DOJ monitor’s focus. Cristina Revelo will discuss how E&C assessments help drive More compliant companies. Jesse Caplan brings his views on the twin topics of antitrust and healthcare compliance. We will conclude our series with AMI founder Vin DiCianni who will look at where monitors monitorships are going in 2022 and beyond. In this Episode 3, Cristina Revelo brings her internal control expertise to analyze for E&C assessments, particularly with monitors and monitorships. Highlights of this podcast include: Monitoring skills will be in demand as we see the rise of proactive monitorships / assessments Compliance and ethical culture are important considerations to review.  E&C Assessments help companies get ahead of what is coming, mitigate risk, ensure compliance and address any gaps that might exist before a regulator comes knocking on their door. ResourcesCristina ReveloAffiliated Monitors Inc.

 In October, Deputy Attorney General (DAG) Lisa O. Monaco gave a Keynote Address at ABA’s 36th National Institute on White Collar Crime (Monaco Speech). Monaco’s remarks should be studied by every compliance professional as they portend a very large change in the way the DOJ will utilize monitors going forward. Over this podcast series, sponsored by AMI we will consider why DAG Monaco’s remarks herald a new era for monitorships.Over this podcast series we will consider Monaco’s remarks from a variety of perspectives. Bethany Hengsbach considered this change in monitorships from the white-collar enforcement and defense perspective. Cristina Revelo discusses how E&C assessments help drive more compliant companies. Jesse Caplan will bring his views on the intersection of the twin topics of antitrust and healthcare compliance. Vin DiCianni looks at where monitors and monitorships are going in 2022 and beyond. In this Episode 2, Mikhail Reider Gordon will look at global aspects of the new DOJ monitor’s focus.Highlights of this podcast include: As far back as late 2020, the DOJ made clear its increased focus on working with other international regulators in the fight against bribery and corruption. The Biden Administration and introduced legislation in Congress have targeted the global nature of corruption and kleptocracy. We have seen and will continue to see ABC enforcement from several surprising sectors. ResourcesMikhail Reider GordonAffiliated Monitors Inc.

AJ Churchill is Tom Fox’s guest in this week’s show. He is a composer, sound designer, and founder of the Lunar Company. He is also a producer on the audio drama, Earth Eclipsed. This week, Tom switches things up as he and AJ talk about AJ's podcast series, the challenges he and his team faced in developing it, and how powerful storytelling is to get messages across. The Power of Podcasting'The sound world is our creation, the limit is our imagination,' is a quote that AJ strongly believes in. "Nowadays we want the audience to be able to put on their headphones, close their eyes, and just completely escape into our universe," AJ tells Tom. The podcast series medium of Earth Eclipsed allows listeners to have the freedom to fully utilize their imagination and conceptualize how everything looks. The concept of the audio series and the techniques used are not new, but modern podcasting is unique in several ways. Podcasting is on-demand now, and the technology and techniques are much more advanced.Why ApolloThe main challenge that content creators in fiction podcasting face is building an audience and making a name for themselves. AJ and his team came up with the solution for this by way of their app Apollo which will be launched mid-December. Normally, creators would crowdfund, spend money on voice actors, upload content to their RSS feed, then pray to get featured. Keeping momentum for the subsequent episodes via ads doesn't work for fiction shows. AJ and his team created Apollo, which is an app that is exclusively dedicated to fiction shows. The app will be categorized according to genre of fiction and will be free for the listeners. Fiction As A CommunicatorFiction allows the creators to tell good stories, convey messages, and tackle themes in ways that elicit less of a hostile response. With fiction, the listeners can come to the realization themselves. "You show them the story, you present them the character, their arcs, and the conflicts… and the listeners can put one and one together, and it's a different way of shedding light on an important problem," AJ says. Fiction allows you an insight into a person's mind and their point of view, and you can get messages across in ways that are not only informative and educational, but also entertaining. ResourcesAJ Churchill | LinkedIn | TwitterThe Lunar Company

In October, Deputy Attorney General (DAG) Lisa O. Monaco gave a Keynote Address at ABA’s 36th National Institute on White Collar Crime (Monaco Speech). Monaco’s remarks should be studied by every compliance professional as they portend a very large change in the way the DOJ will utilize monitors going forward. Over this podcast series, sponsored by AMI we will consider why DAG Monaco’s remarks herald a new era for monitorships.Over this podcast series we will consider Monaco’s remarks from a variety of perspectives. Mikhail Reider Gordon will look at global aspects of the new DOJ monitor’s focus. Cristina Revelo discusses how E&C assessments help drive more compliant companies. Jesse Caplan will bring his views on the intersection of the twin topics of antitrust and healthcare compliance. Vin DiCianni looks at where monitors and monitorships are going in 2022 and beyond. In this Episode 1, Bethany Hengsbach considers this change in monitorships from the white-collar enforcement and defense perspective.Highlights of this podcast include: DOJ mandates a commitment to monitors in a non-punitive manner. The DOJ now views monitors and monitorships as a way to extend their reach. The DOJ hopes this new program will proactively use compliance programs to prevent future corrupt activity and prevent recidivism. ResourcesBethany HengsbachAffiliated Monitors Inc.

Welcome to a special five-part podcast series on how to unlock the gold in your program, hosted by Tom Fox with guests Gio and Nick Gallo from ComplianceLine. One of the ongoing questions in compliance is to demonstrate the Return on Investment (ROI) in your compliance program, by demonstrating the extended value of compliance literally across your entire company. When overlaid with an ESG component, you can begin to see the gold in your compliance hills. In addition to showing how you can unlock the gold in your own compliance hills, Gio and Nick walk you through how demonstrate ROI for your internal budgeting process which can provide to you the financial resource to strengthen and improve your compliance program. Join us for the full 5 episodes and learn to see your compliance program in an entirely new light. In this concluding Part 5, we consider investments strategies for the compliance professional in the short and long term. Some of the highlights of this episode include: ·      What is Beta Investment and how does volatility work into overall compliance investment strategies? ·      What is volatility and how a compliance professional can harness it for a compliance investment strategy? ·      How to think about your growth curve.·      Investments in compliance to drive employee engagement and lower turnover. ResourcesGio Gallo on LinkedInNick Gallo on LinkedInComplianceLine