Innovation In Compliance With Tom Fox

Welcome to a multi-part podcast series, Smart Automation for Risk Management, sponsored by Lextegrity Inc. Over the course of this series we will be visiting with Parth Chanda, Founder and Chief Executive Officer (CEO), Andy Miller, Chief Analytics Officer, and Kara Bonitatibus, Head of Product. We are reviewing the Lextegrity Product Suite, taking a deep dive into continuous risk monitoring, considering pre-approvals and third-party due diligence and integrations and user experience. In a special bonus episode, Chanda and I will discuss the Integrity and Analytics Collective. In Episode 3, I conclude my two-part visit Miller about risk monitoring with data analytics.  We began with the Department of Justice’s (DOJ) 2020 Update to the Evaluation of Corporate Compliance Programs, (2020 Update), which mandated for the first time that compliance practitioners and the corporate compliance function have access to a company’s data lakes. Miller believes the DOJ 2020 Update has really been an eye opener for a lot of

Welcome to a multi-part podcast series, Smart Automation for Risk Management, sponsored by Lextegrity Inc. Over the course of this series, we will be visiting with Parth Chanda, Founder and Chief Executive Officer (CEO), Andy Miller, Chief Analytics Officer, and Kara Bonitatibus, Head of Product. We will look at the Lextegrity Product Suite, take a deep dive into continuous risk monitoring, consider pre-approvals and third-party due diligence and integrations and user experience. In a special bonus episode, Chanda and I will discuss the Integrity and Analytics Collective. In Episode 2, I begin a two-part exploration Miller about risk monitoring with data analytics. We began with a discussion about what a continuous monitoring solution is. Miller said that it “provides compliance and audit teams with a comprehensive way to keep a pulse on transactional spend and revenue risk in their enterprise.” The Lextegrity application “features a library of dozens of prebuilt risk data analytics across a spectrum of focus

Tom Fox’s guests this week are Anil Karmel and Travis Howerton, co-founders of C2 Labs. They both had leading positions in the government’s nuclear weapons program and left to found their company. They and Tom talk about “fixing the cadence mismatch” between digitally transforming heavily regulated industries and the need for compliance. Technology vs Compliance “Business processes in heavily regulated industries are built to standardize the way systems are built, designed, deployed and to protect the organization,” Anil remarks. “So you know really to transform technology business processes need to also be transformed… There's really been this need to fix this cadence mismatch between the need to be compliant and the need to modernize technology.” Travis adds that two-thirds of organizations find digital transformation challenging. Their goal at C2 Labs is to help clients modernize their business processes using technology tools, while maintaining compliance, and even reducing cost and risk. RegOps in Comp

Welcome to a multi-part podcast series, Smart Automation for Risk Management, sponsored by Lextegrity Inc. Over the course of this series, we will be visiting with Parth Chanda, Founder and Chief Executive Officer (CEO), Andy Miller, Chief Analytics Officer, and Kara Bonitatibus, Head of Product. We will look at the Lextegrity Product Suite, take a deep dive into continuous risk monitoring, consider pre-approvals and third-party due diligence and integrations and user experience. In a special bonus episode, Chanda and I will discuss the Integrity and Analytics Collective. In Episode 1, we meet Chanda, Miller and Bonitatibus who introduce Lextegrity and the Lextegrity Product Suite.  Lextegrity began through a frustration Chanda had with the then products available to him for a compliance solution from the data analytics perspective, which would utilize data for risk management. Out of this frustration, Lextegrity was founded by subject matter experts across compliance, legal and audit disciplines with a real

Paul Clayson has an interesting and eclectic career history: he went from real estate to politics - including working for two US Presidents - then to corporate finance and investing. He tells Tom Fox about his experience working as CEO of several technology companies after which he moved into consulting. He first consulted for AgilePQ, his present company, and was asked to join as CEO. Paul joins Tom to discuss the top lessons he learned as CEO, as well as security for technology in the present and future. Timely Intervention “...Encryption and security technology has lagged the development of computers,” Paul tells Tom. Computers are becoming smaller but existing encryption is too large to fit on these small devices. As a result, very few IoT devices have security on them. Paul feels strongly that it’s time to “catch up”. Leadership Lessons for CEOs Tom asks Paul to share his top leadership lessons as CEO. Paul says:  The CEO has more bosses than any other position in the company; Your job as CEO is to g

Jenna Waters is a Cybersecurity Consultant at True Digital Security where she specializes in information security program development, industry compliance assessments, threat intelligence, and cloud security controls. She helps clients through the challenges of cybersecurity program development and holistic security consulting, and also consults companies across varying industries. Tom Fox welcomes her to this week’s show as they discuss technological safety within industries, and what her company is doing to curb cyber attacks. The Micro/Macro Focus Jenna is a USN veteran, and during her time in the Navy, she worked on highly sophisticated computer information systems and with a lot of other sophisticated technologies as well. Tom asks her to elaborate on the Navy’s approach to cybersecurity as opposed to the public and private sector. Jenna iterates that the Navy, as well as any other military, federal, or law enforcement agency, is focused on a very global, or what she calls a “macro threat” environment.

Jehan Jeyaretnam is the Director and Head of Compliance Services at Acuity Knowledge Partners, one of the world’s largest knowledge process outsourcing firms. Jehan leads the Compliance Business Division, supporting clients with regulatory and anti-financial crime surveillance issues. Tom Fox welcomes him to this week’s show as they discuss ways of implementing knowledge outsourcing within work environments. Knowledge Processing Tom asks Jehan to define the term “knowledge processing.” Jehan explains that it is a point of view where you have the resources that are supported based on particular specialized knowledge. It’s an area where analytics and judgment reform is required, along with domain understanding and subject matter expertise. It is different from business processing in that it’s more than simply rules-led and considers knowledge offshoring functions.  The Four Pillars of Acuity Jehan explains that there are four pillars of compliance within Acuity Knowledge Partners. He states that the company s

Chris Fuller is an author and the President and CEO of Influence Leadership Inc, an organization focused on serving businesses through the development and growth of their people. He is a keynote speaker and has facilitated many strategic sessions for large companies. This experience has given him valuable, best-practice insights. Tom Fox welcomes him to this week’s show as they discuss ideas and strategies to help you around leadership. Mid-Level Management & Cultural Change Chris wants to help leaders achieve their dreams, while also creating a great work environment for their employees. The day-to-day reality of leadership is a challenge, and new mid-level managers get burned out when they are promoted without proper preparation. "I have a strong focus on the first-time leaders, to prepare them so that they're set up for success, not set up for struggle," Chris says. Embedding this as a culture within an organization will have to involve senior leadership. "We start with the mid-level, we make sure that we

Eric Shepherd is the former CEO of Question Mark. In 2019 he stepped down and now runs a non-profit company called Talent Transformation, focused on helping individuals understand the future, leadership, and learning. Tom Fox welcomes Eric onto his week’s show as they discuss the ways organizations can better develop through a focus on learning rather than training. The Rise in Technology With the rise in technological advances and automation, machines will be replacing human tasks, and what this means is that individuals will need to acquire new skills. “People will need to learn new skills and be more agile in their approach to work,” Eric says. “Just as technology is going to disrupt a lot of jobs, we can also use technology to help us learn the skills required for the 21st century,” he adds. He iterates that communication, collaboration, and conflict resolution are some of the most important skills that need to be developed and nurtured. Eric also adds that employees will feel bitter at having been displ

Welcome to a special five-part K2 Integrity sponsored podcast, series Business and Financial Fraud: Yesterday, Today, and Tomorrow. Over the course of this series I have been joined by Joanne Taylor, a Managing Director at K2 Integrity. She has 20 years of legal, investigations and financial crime compliance experience, working within the financial and legal services industries. I am also joined by Ray Dookhie, a Managing Director in K2 Integrity’s Investigations and Risk Advisory practice, with more than 25 years of experience in compliance, integrity risk monitoring and management, and investigations. Over the series, we have considered the top fraud trends you might expect to see in 2021, what the regulatory landscape may well look like in 2021, best practices in fraud prevention, how to detect fraud and responding to fraud once it is uncovered. In our concluding episode, Part 5, Ray Dookhie joins me to discuss what a company should do after allegations of fraud arise. Texas Tax rate at 80% of 8.25%

Welcome to a special five-part K2 Integrity sponsored podcast, series Business and Financial Fraud: Yesterday, Today, and Tomorrow. In this series I am joined by Joanne Taylor, a Managing Director at K2 Integrity. She has 20 years of legal, investigations and financial crime compliance experience, working within the financial and legal services industries. I am also joined by Ray Dookhie, a Managing Director in K2 Integrity’s Investigations and Risk Advisory practice, with more than 25 years of experience in compliance, integrity risk monitoring and management, and investigations. Over this series, we will consider the top fraud trends you might expect to see in 2021, what the regulatory landscape may well look like in 2021, best practices in fraud prevention, how to detect fraud and responding to fraud once it is uncovered. In Part 4, Joanne Taylor joins me to review best practices in fraud detection. Join us tomorrow for our concluding Part 5 where we look at responding to fraud after it is uncovered. For

Welcome to a special five-part K2 Integrity sponsored podcast, series Business and Financial Fraud: Yesterday, Today, and Tomorrow. In this series I am joined by Joanne Taylor, a Managing Director at K2 Integrity. She has 20 years of legal, investigations and financial crime compliance experience, working within the financial and legal services industries. I am also joined by Ray Dookhie, a Managing Director in K2 Integrity’s Investigations and Risk Advisory practice, with more than 25 years of experience in compliance, integrity risk monitoring and management, and investigations. Over this series, we will consider the top fraud trends you might expect to see in 2021, what the regulatory landscape may well look like in 2021, best practices in fraud prevention, how to detect fraud and responding to fraud once it is uncovered. In Part 3, Ray Dookhie reviews best practices in fraud prevention. Join us tomorrow in Part 4 where we look at strategies for detecting fraud. For more information on K2 Integrity, check

Welcome to a special five-part K2 Integrity sponsored podcast, series Business and Financial Fraud: Yesterday, Today, and Tomorrow. In this series I am joined by Joanne Taylor, a Managing Director at K2 Integrity. She has 20 years of legal, investigations and financial crime compliance experience, working within the financial and legal services industries. I am also joined by Ray Dookhie, a Managing Director in K2 Integrity’s Investigations and Risk Advisory practice, with more than 25 years of experience in compliance, integrity risk monitoring and management, and investigations. Over this series, we will consider the top fraud trends you might expect to see in 2021, what the regulatory landscape may well look like in 2021, best practices in fraud prevention, how to detect fraud and responding to fraud once it is uncovered. In Part 2, Ray Dookhie joins me to consider what the fraud regulatory landscape may look like in 2021. Join us tomorrow in Part 3 where we look at best practices in fraud prevention. For

Julie Myers Wood, CEO of Guidepost Solutions, returns to the Innovation In Compliance podcast this week to talk about how companies can get back to the workplace safely. She tells Tom Fox that this far into the pandemic her conversations with clients have changed to address longer-term issues. Customers are asking questions about security protocols and how to keep people safe, as well as keep business open. Increased Efficiency  Julie says that Guidepost Solutions delivers technology solutions customized to each customer’s needs and existing security platforms. For example, more and more businesses are looking for touchless technology so that they can protect their customers and keep their doors open. Tom comments that this improves business efficiency on a whole and credits the pandemic for forcing us to improve our processes overall.  Work From Home  Tom and Julie discuss the security challenges working from home presents. Julie remarks that companies have to think about creating campaigns to target those

Welcome to a special five-part K2 Integrity sponsored podcast, series Business and Financial Fraud: Yesterday, Today, and Tomorrow. In this series I am joined by Joanne Taylor, a Managing Director at K2 Integrity. She has 20 years of legal, investigations and financial crime compliance experience, working within the financial and legal services industries. I am also joined by Ray Dookhie, a Managing Director in K2 Integrity’s Investigations and Risk Advisory practice, with more than 25 years of experience in compliance, integrity risk monitoring and management, and investigations. Over this series, we will consider the top fraud trends you might expect to see in 2021, what the regulatory landscape may well look like in 2021, best practices in fraud prevention, how to detect fraud and responding to fraud once it is uncovered. In Part 1, Joanne Taylor joins me to discuss the top fraud trends in 2021. Join us tomorrow in Part 2 where we look at the regulatory landscape for fraud and misconduct in 2021. For more

Tom Fox’s guest on this week’s show is Dan Wager, VP of Global Financial Crime and Compliance at LexisNexis Risk Solutions. Dan is an executive with expertise in financial crime compliance and investigations. He and Tom discuss human trafficking, fraud and identifying the patterns of suspicious behaviors within an organization. Tom emphasizes, “All compliance professionals need to understand not only the risks around this area but also what the solutions are… The pandemic has caused an increase in this area because it's closed down other business opportunities for the bad guys.”  It’s All About Money Human trafficking, sex trafficking, money laundering and the like are not crimes of passion, Dan points out. “Their focus is to make money and that desire does not stop during an economic crisis and a global pandemic… It all comes back to moving money.” The way in which these crimes are committed is changing, and compliance professionals need to be aware. Tom comments that commercial corporations are being targe

Tom Fox’s guest on this week’s show is Dr. James Kelley, co-founder and CEO of qChange. qChange is a technology company that uses artificial intelligence to improve leaders’ skills and make meetings more impactful. James spent the last 12 years in academia before co-founding qChange. He chats with Tom about his academic research, his book, and how he is helping leaders become more impactful in meetings. Customize the Message James’ academic research was a five country study about consumers’ attitudes towards global brands. He studied various customer attributes and how it impacted their attitudes towards a brand. What he found was that global companies needed to tailor their narrative to reach customers outside of their local audience. This study has implications for internal communications around compliance as well, he points out. “I’ve always argued that if you could diversify your population inside the organization and tailor that messaging, the likelihood of compliance will increase drastically because y

Lisa Levy, CEO of Lcubed Consulting and author of Future Proofing Cubed, started her career in IT. “I grew up as a project manager implementing systems'', she says, “and watching those system implementations fail because people didn't understand what the new technology was doing or why it was important to them or how it was supposed to actually make their jobs easier.” That early experience led her to focus on “process and building teams that would understand how work is done and then how to use the technology.” She eventually founded Lcubed Consulting to champion better ways of doing work in order to become more agile. Tom Fox welcomes her to this week’s show as they discuss cross-functional collaboration, future proofing, and building agility within the corporate culture through adaptive transformation. It Starts With People “I realized that it's really about getting the right people doing the right work in a repeatable process and then using technology to enable it,” Lisa comments. Business success depend

Tricia Benn is the Chief Community Officer at C-Suite, a digital platform that focuses on providing growth development and networking opportunities for business executives. She is also the General Manager of The Hero Club, an invitation-only membership organization for CEOs, founders, and inventors. Tom Fox welcomes her to this week’s show as they discuss creating collaboration among leaders to build business growth. C-Suite Network C-Suite Network helps business leaders in growth development by creating an ecosystem of content creation and distribution, Tricia explains. It is a community of leaders motivating and inspiring each other on multiple levels. It is a values-based organization, with an emphasis on how leaders, investors, and businesses put people first. Before the pandemic, it was done via face-to-face seminars but has since then gone virtual. Tom comments that with this pivot, an explosion of content that hadn’t been available to leaders and businesses before has now become available.  The Princ

Welcome to this special podcast series, Integrity Matters: Assessing the Corporate Compliance Climate in 2021, sponsored by K2 Integrity. This week I visit with Bob Brenner, Co-Managing Partner and Chief Legal Officer; Snežana Gebauer, Executive Managing Director and head of U.S. Investigations and Risk Advisory, Americas. Over the week, we will consider various regulatory and enforcement issues with the incoming Biden Administration. Topics include assessing the regulatory landscape resulting from the pandemic, what companies can expect from new administration priorities, anti-bribery/anti-corruption issues and enforcement in 2021. In this concluding Part 5, I am joined by Snežana Gebauer to consider a few key themes and how a company can prepare for what is coming down the road into 2021 and beyond. For more information go to the K2 Integrity website. Texas Tax rate at 80% of 8.25%