While the value of a positive corporate culture is clear, a strong culture does not always develop organically. Companies must devote attention to measuring, managing, and promoting ethical cultures....more
Sometimes compliance issues are simple. Most times they are nuanced. This is a simple issue but it carries with it a significant message. So here goes – where is the CCO’s office?...more
We often discuss the importance of a “Speak Up” culture. We encourage employees to report their concerns, we emphasize the important of such reporting to the life of an organization....more
Forgive me for going out on a limb here. But this issue is fairly obvious. A simple question:
Should the Chief Compliance Officer be responsible for the Environmental, Social and Governance function?...more
6/15/2021
/ Business Strategies ,
Capital Investments ,
Chief Compliance Officers ,
Compliance ,
Corporate Culture ,
Corporate Governance ,
Corporate Social Responsibility ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
Publicly-Traded Companies ,
Sustainability
Compliance understanding of business processes is a critical part of understanding internal controls and a company’s risk profile. Compliance officers are adept in identifying and assessing risks. In doing so, a compliance...more
You can draft and design the best ethics and compliance program – and then fail. You can show every compliance professional an “effective” set of ethics and compliance controls, pristine, drafted elegantly, addressing each...more
A good lawyer knows the law; a clever one takes the judge to lunch. — Mark Twain -
Lawyers get a bad rap – not just as the subject of lawyer jokes. (This is not an invitation to recite lawyer jokes)....more
The success of a compliance program depends on a number of factors. Perhaps one of the most important factors is the strength of the relationship between compliance professionals and business. Compliance depends on business...more
Chief compliance officers (CCOs) are talented professionals. As Donna Boehme always emphasizes, CCOs are subject matter experts (SMEs) in compliance risks, controls and mitigation. CCOs focus on legal and compliance risks...more
3/17/2021
/ Anti-Bribery ,
Anti-Corruption ,
Chief Compliance Officers ,
Compliance ,
Compliance Management Systems ,
Corporate Culture ,
Corporate Governance ,
Corporate Management ,
Risk Management ,
Subject Matter Experts (SMEs) ,
White Collar Crimes
I have always played down the issue of CCO liability and prosecutions. I dismiss these concerns often because the reporting of CCO prosecutions are usually exaggerated and meant to instill fear in compliance professionals. ...more
While my first posting highlighted the positive developments in the CCO’s role and professional development, the next two postings present troubling concerns....more
To start the New Year, it is a good idea to review the trends in the role and status of Chief Compliance Officers. As we witness the continuing growth in stature of the CCO, we need to exercise caution. Some troubling...more
If you speak to members of a corporate board and the C-Suite and you ask them if the company has a strong ethical culture, we all know what they will say – “Of course, we do. We have a strong commitment to our Code of...more
Corporations are slow to change. Unless forced by government prosecutors or regulators, companies inherently resist change, even when such changes can make a business more profitable. ...more
Chief compliance officers are heroes. They labor every day to advance a company’s ethics and compliance program without much recognition, with few resources, and with well-known gaps in their programs....more
3/3/2020
/ Anti-Corruption ,
Chief Compliance Officers ,
Compliance ,
Compliance Management Systems ,
Corporate Culture ,
Corporate Governance ,
Corruption ,
Ethics ,
Internal Controls ,
Leadership ,
Risk Management ,
White Collar Crimes
The Justice Department “listens and learns” from companies and compliance practitioners. As part of every enforcement action, DOJ prosecutors review and assess compliance programs in accordance with the standards explained...more
2/27/2020
/ Anti-Corruption ,
Chief Compliance Officers ,
Compliance ,
Confidentiality Policies ,
Corporate Culture ,
Corruption ,
Department of Justice (DOJ) ,
Incident Response Plans ,
Internal Controls ,
Internal Reporting ,
White Collar Crimes
Compliance officers face almost an infinite number of risks – not to be trite, but CCOs can drive themselves crazy identifying every plausible legal and compliance risk a company faces. I am exaggerating a little bit to make...more
2/11/2020
/ Anti-Corruption ,
Chief Compliance Officers ,
Compliance ,
Compliance Management Systems ,
Cooperative Compliance Regime ,
Corporate Governance ,
Ethics ,
Internal Controls ,
Policy Management ,
Risk Management ,
Third-Party Risk ,
White Collar Crimes ,
Willful Misconduct
I am reluctant to start off the New Year with a negative comment or posting. But I have a significant concern about the path and current state of ethics and compliance....more
1/24/2020
/ Automation Systems ,
Chief Compliance Officers ,
Compliance ,
Corporate Governance ,
Ethics ,
Internal Controls ,
Leadership ,
Risk Management ,
Senior Managers ,
Technology ,
Vendors
The path of the compliance profession has been remarkable. Recently, I have seen a number of tweets and postings from compliance thought leaders touting the accomplishments of compliance and the transformation of the...more
1/17/2020
/ Analytics ,
Anti-Corruption ,
C-Suite Executives ,
Chief Compliance Officers ,
Compliance ,
Compliance Management Systems ,
Compliance Monitoring ,
Corporate Culture ,
Corporate Governance ,
Leadership ,
Risk Management ,
Senior Managers ,
Technology ,
White Collar Crimes
As a passionate supporter of the compliance function, I continue to advocate for compliance officers and the importance of compliance to overall governance. Good compliance means good business – we all know that....more
As everyone knows, I am an eternal optimist. Being a cynic always leads to negative energy and results. As a former federal prosecutor, I am deeply committed to the idea of doing the right thing....more
1/15/2020
/ Anti-Bribery ,
Anti-Corruption ,
Chief Compliance Officers ,
Compliance ,
Compliance Management Systems ,
Compliance Monitoring ,
Corporate Culture ,
Corporate Governance ,
Corporate Management ,
Corporate Misconduct ,
Innovative Technology ,
Leadership ,
Risk Management ,
White Collar Crimes
2019 was a big year for ethics and compliance. In fact, it is easy to argue that since the adoption of the compliance provisions in the US Sentencing Guidelines in 1991, compliance had its biggest year....more
1/14/2020
/ Analytics ,
Automation Systems ,
Chief Compliance Officers ,
Compliance ,
Cooperative Compliance Regime ,
Corporate Culture ,
Corporate Governance ,
Data Management ,
Department of Justice (DOJ) ,
Ethics ,
Federal Sentencing Guidelines ,
Innovative Technology ,
Office of Foreign Assets Control (OFAC) ,
Regulatory Violations ,
Speak-up Cultures ,
Strategic Planning
In today’s aggressive enforcement environment, corporate board members have a target on their respective backs. Even with robust liability insurance, corporate boards are operating in a state of “ignorance is bliss.” ...more
Most compliance programs include some form of internal compliance committee separate from the company’s audit committee. An internal compliance committee can play a very important role in advancing a compliance program....more
Compliance officers and internal auditors are natural partners and allies in the compliance governance landscape. As the compliance profession and influence grew, compliance officers often leaned on internal auditors for...more