Innovation In Compliance With Tom Fox

Daniel Ramsey, CEO and Co-Founder of MyOutDesk, a virtual assistant company that helps small to medium-sized businesses get leverage, is this week’s guest. He joins Tom Fox to discuss the untapped resources of virtual assistance. Starting the Business Tom asks Dan to recount why he founded MyOutDesk. Dan responds that he started a successful real estate practice, but soon realized that he needed more leverage in order to grow his business. However it was hard to find detail-oriented people who could fill in his roles, so he hired a few virtual assistants to do the paperwork and was amazed at their capabilities. From there, Dan says, he asked them if they had connections to other virtual assistants and he started MyOutDesk, which now has about 1200 employees in the Philippines.  Blending and Cost Effectiveness Dan believes in a blended work chart, where a portion of a company's employees are US based and everyone else is across the globe, and that companies are going to move toward this. It’s not a question

Ben Locwin chats with Tom Fox about COVID-19 and the risk management issues associated with the disease in this week’s Innovation In Compliance show.  What is Coronavirus? Ben says that coronaviruses have been around for a long time. During flu season, about 10% of patients with upper respiratory symptoms test positive for a type of coronavirus. The epicenter of the outbreak of this particular strain of the coronavirus is Wuhan, China, and there seems to be some correlation with the open air markets there. Though it’s suspected that the virus may have crossed from animals to humans, the nexus of the disease is unknown. He goes on to explain how the virus got its name and how it affects human cells. Symptoms and Spread Tom asks about the symptoms of the coronavirus (officially called COVID-19) and how it spreads. Symptoms, Ben says, include respiratory symptoms similar to a chest cold, such as coughing, having trouble breathing, and fever in more severe cases. In a relatively few cases, patients experience o

This week’s guest on the Innovation In Compliance show is Sean Freidlin, Director of Product Marketing at SAI Global. He and Tom Fox chat about the article he recently posted on LinkedIn, Rise and Shine: The Morning Show’s Wakeup Call to Corporate America. Overlapping Themes Sean says that the central themes in movies often overlap with the common themes in ethics and compliance programs. In particular, he noticed that Apple’s flagship program, The Morning Show, tackles almost every issue that compliance teams build training about or write about in their code of conduct. Issues such as sexual harassment, diversity and inclusion, whistleblowing and retaliation are issues that many companies deal with. Sean comments that he applauds the risk Apple took to make the show, which shows their commitment to speak up about abuse of power when they see it. Compliance and Ethics Issues Tom asks Sean what is the general story arc of The Morning Show. Sean summarizes the plot, which includes a sexual harassment scandal,

This week’s guest on Innovation In Compliance is Gini Dietrich, CEO and founder of Spin Sucks. Gini is a writer, blogger, speaker and all-around expert in the PR space. She recently wrote a blog post entitled, How to Spot Red Flags in New Business Relationships, which is the focus of her discussion with Tom Fox in this week’s show. Trust Your Instincts Tom asks Gini what inspired the blog post. She responds that she actually wrote the blog post as a reminder to herself to always look for red flags and always listen to her gut. She says that when you’re contemplating a prospective business relationship, there are a few questions you should always ask yourself. Do you see red flags? Can you get past them because there are other advantages? Should you discontinue the conversation and save yourself time, angst, money and resources in the long run? In the PR space, the most common red flag is unrealistic expectations, Gini explains. Why? Why? Why? Gini points out the importance of writing down red flags. For one

Ray Pathak is the COO of Nymity, which was recently acquired by TrustArc. He chats with Tom Fox about the acquisition and how his company is reimagining privacy. A Powerful Combination Nymity and TrustArc have been in the compliance space for a combined 40 years. Nymity has research expertise, and TrustArc is versed in automation and technology. The companies coming together with their complementary skills, have created something powerful and special in the marketplace.  Reimagining Privacy Tom asks Ray to expand on its catchphrase, ‘Reimagining Privacy’. It’s about providing data intelligence within the compliance solution, Ray responds, so that companies can do more with less. “We want to empower organizations to understand their data better and by understanding it, be able to do more with their data.” He calls this ‘unleashing the data’.  The wait-and-see approach used by so many companies is a failure waiting to happen, Ray argues. It may solve the problem of today, but it’s not viable long-term because y

This week’s guest on Innovation In Compliance is Garin Bergman, founder of the Palmtree compliance app. He chats with Tom Fox and Ronnie Feldman about the app, and how it puts compliance into the hands of employees. Making Compliance Simpler and Timely Ronnie believes that the next boundary in compliance is simplicity, not complexity. Garin’s innovative solution is a simple way to get compliance to people through technology, he says. Garin explains that Palmtree is a mobile application for smartphones and tablets that allows compliance departments to put their materials into their employees’ hands wherever they are. The app can recognize employees’ location and send them communications that might be relevant to their project or that might minimize compliance risk. In addition, having the app available on their devices - an environment they’re already used to and like to use - in an engaging and easy to read format, further supports the compliance program. Key Features Palmtree has the ability to track and a

Gio Gallo, and his brother and co-CEO Nick Gallo, joined ComplianceLine because they saw a need for better vendor partners in the compliance industry. Their mission is to help more people every day. Today they care for the leaders who care for six million people around the world. Gio joins Tom Fox on this week’s show to talk about why the human element in compliance is mandatory and why it’s going to stay that way far into the future. Taking Care of People ComplianceLine helps compliance leaders by giving them actionable information so they can take care of their people. Gio lists the services his company offers, such as issue intake and case management, and hotline.  Data Cannot Replace Humans Tom comments about the increasing importance of collecting and monitoring data, given regulatory mandates. He asks Gio why he believes that data cannot be allowed to replace the human element. Gio responds that automation is great, for machines. However, you can’t define every scenario or what should be done in every

Trysha Daskam has been with Silver Regulatory Services since its inception 18 months ago. She is the in-house expert on Environmental Social Governance (ESG) at Silver and was brought in by founder Fizza Khan (guest on episode 108 of this podcast) to grow the ESG arm of the business. She chats with Tom Fox about how Silver Regulatory Associates helps their clients improve their ESG compliance. Creating an ESG Program Trysha defines ESG as a lens through which you comprehensively evaluate the investments that you make. It is often deemed a risk tool because it evaluates a set of environmental, social and governance risk factors that were not typically captured in traditional diligence. Tom asks Trysha to describe the steps a company should take to create an internal ESG program. She responds that companies should start by determining if they already have any ESG-related document that could form the basis of a policy. If not, then there are a few core steps to take: Create your guidance document that enumerat

Peter Grossman comes from a publishing and entertainment background, having worked at US Weekly and Rolling Stone. Given this background, he and his partner initially targeted the entertainment industry when they co-founded their production company, Labyrinth Training. However, they were offered the opportunity to work with AB InBev to create compliance training that their employees would actually pay attention to. Since that time, Labyrinth has focused on creating training for the compliance industry. Peter joins Tom Fox on this week’s show to talk about the innovative ideas, strategies and techniques in training and communications that his company brings to the compliance space.  Fixing What’s Wrong With Compliance Training People love learning, Peter says, but they generally do not like school. The problem with compliance training is that it’s usually built by test takers, with little to no emphasis on engaging learners. Oftentimes you have a situation where compliance training is done in December when em

Like its namesake, which was the first piloted aircraft to break the sound barrier, X1 values innovation and speed. The company is laser focused on fixing problems in new, better and more cost effective ways. Its software capability has evolved from search & productivity applications into the ability to collect social, media and web content for legal proceedings, as well as the ability to access and act on employee information in a scalable manner without disrupting productivity. CEO of X1, Craig Carpenter, joins Tom Fox on this week’s show to chat about how his company is making data accessible for its clients. Distributed GRC Solution Tom asks Craig to talk about X1’s distributed GRC solution. Craig responds that the name itself conveys that the software is wherever the data resides. Distributed GRC is a two-part product, he says. The first part is software that sits on an endpoint such as a laptop. The second part is a command and control layer that allows you to access your data sources and analyze what

This week’s guest on the Innovation In Compliance show is Krista Hardwick, General Counsel at Deputy. Deputy brings an innovative solution to managing compliance and legal risk around scheduling. Krista chats with Tom Fox about how her company’s software helps business owners stay compliant with fair wage and hour laws, as well as increase profitability. Analyzing Shift Work Deputy recently released a free ebook entitled The United States of Shift Work, based on their study of 1million shift hours over the course of a year. They were able to conclude that there are many similarities among the different generations of shift workers with regard to the hours they worked vs hours they were scheduled. On average, workers were rostered to work just a few hours more than they actually worked. Krista says that this shows that managers and business owners are complying with the fair work week laws which state that workers should not be required to work more than they are scheduled. It also implies that business leade

Fizza Khan, this week’s guest on the Innovation In Compliance show, has been in regulatory consulting for over 10 years. She is the CEO and founder of Silver Regulatory Associates, an innovative company that specializes in helping companies meet their regulatory obligations. She and Tom Fox discuss the idea of outsourced compliance as well as the interesting and often complicated world of cryptocurrency. The Cutting Edge of Outsourced Compliance Tom comments that the regulatory compliance space has different guidelines, regulations and laws than his world of ABC compliance. He asks Fizza to describe some of the cutting edge things her company is doing, in particular the idea of ‘outsourced compliance’. She replies that financial services companies must have a strong regulatory compliance program that’s not only good on paper, but practically functioning. Her company, as an outsourced compliance option, can help firms meet their obligations either by integrating into their compliance program or by working alo

Brandon Daniels, President of Global Technology Markets at Exiger, joins Tom Fox for this week’s episode of Innovation In Compliance, to chat about how technology is leading the compliance discussion. Exiger develops technology solutions in the compliance space. Third Party Risk Management Tom notes that the market has recognized the need for more robust management of third party risk. Brandon agrees that more people are recognizing that third party risk can define their organizations. Revised federal guidelines underscore the importance of embedding third party risk management into organizations. This isn’t a peripheral risk, Brandon points out. It’s the kind of risk that can destroy shareholder value, cause significant fines, and consume your brand. Tom adds that third party risk has always been the highest risk for a government intervention in terms of a violation.  Education Is A Key First Step The e-discovery industry is an example of how technology can become central to a company’s function. Twenty ye

Jonathan Sampson has worked in the compliance industry for the past decade, including as COO of Click for Compliance, a pioneer in the compliance training space. He and co-founder Karen Kiesel started Peak Compliance Training because they recognized a need for a customer-centric training provider. He says that compliance professionals are passionate about driving company culture through their training initiatives but they need customization, often in multiple languages. He joins Tom Fox on this week’s show to share how Peak is answering the market need with their training solution. A Suite of Training Resources Peak’s initial suite of training resources was in the area of sexual harassment prevention, in response to recent legislation mandates. They are building out a compliance training library that will be available in coming months, which will cover topics such as ethics, business code of conduct, FCPA anti-corruption and anit-trust, and import-export controls. The market favors training that is interacti

Compliance is widely seen as black and white, but this week’s guest argues that there is a lot of thinking, decision making and ways to innovate inside the compliance space. Jeff Nally is an executive coach who has spent the last fourteen years using neuroscience to help business leaders think differently, make better decisions, and spark ideas, innovation and insight in others. Jeff’s Approach to Coaching Tom comments that using a brain-based approach seems antithetical to what lawyers generally do. He asks Jeff to describe his coaching method. Jeff replies that he’s not coaching around expertise; rather, he’s helping spark new ideas and innovations in their brains. A compliance issue could have multiple approaches. He’s teaching professionals to be better leaders, as well as how to ask thoughtful, reflective questions. How to Know If Coaching is Right For You Jeff says you should consider retaining a coach after you’ve maximized all the other training, development and leadership resources available to you

Paul Brodie is the CEO of Brodie Consulting. He is a consultant and keynote speaker, and most interestingly, he helps would-be authors get their books published. He joins host Tom Fox today to discuss his professional background, and his work and most importantly, how to get your book published. How Brodie Consulting Began His company, Brodie Consulting, was born out of a personal health crisis. Paul relates that his doctor told him that if he didn’t change his life, he would be dead within five years. This motivated him to take charge of his health and lose over 60 pounds. He wanted to write a book about his journey, but had no idea how to do so. With lots of research about Kindle publishing and some trial and error, he created a 6-step book publishing system. His first three books became bestsellers because of his system. He also discovered that he could help other would-be authors and began to offer coaching, done-for-you book publishing as well as podcast production and executive ghostwriting services.

Christian Perez Font is the founder of Thinkeen Legal, a law firm that uniquely incorporates data analytics, compliance and law. He began his career as a corporate attorney and in 2008 joined Baxter International, a multinational healthcare company, as in-house counsel. When he joined Baxter, his work was 10% compliance-related and 90% business-related, but by the time he left 5 years later, he was doing 65% compliance work. The key to becoming a better compliance professional, he proposes, is to become a better business person. He and host Tom Fox discuss the importance of data in compliance and in business. Data as Fuel When people think about Data Analytics they imagine some form of AI that's going to automatically pinpoint problems. Christian says that the truth is that Data Analytics has to be at the core of compliance: data is the fuel that powers the compliance engine. It’s the data that will tell you how you should be communicating compliance policies and doing training so that you can achieve your b

Andrea Falcione and Tricia Cornell of Rethink Compliance, one of the most innovative companies in the compliance space, join Tom Fox in this week’s show. They discuss their compliance journeys, and how content is reshaping the world of compliance. Their Compliance Journeys Andrea is a lawyer by profession. In 2004 she transitioned into compliance; she joined Rethink Compliance about a year ago. Tricia comes from the marketing and advertising world. The founder of Rethink, Kirsten Liston, asked her to join the company two years ago to bring her expertise in creating pieces of content to persuade people to think differently about commercial products, into the compliance space. Content is King Tom asks the guests to explain what ‘Content is king’ means, and why it’s so important and innovative in compliance. Tricia explains that it means that people are curious: they want to read, listen, and view videos, so compliance experts have to make their content consumable and desirable, and through that get their bran

Alyson Van Hooser is a self-described ‘old school millennial’. From being on her own from age 13, to putting herself through college, to leadership positions in the retail and finance industries, Alyson has worked hard to achieve her goals. She now works with Van Hooser Associates, where she has to opportunity to dedicate herself to her passion for leadership development. Leadership is TwofoldAlyson says that leadership is twofold: you lead yourself and you can lead others. The first step in leadership is personal development, she says. She learned early on in life that if she wanted to be successful, she had to first lead herself. As she got older, the leaders in her life helped her develop into a successful person. It was because they chose to serve her, she says, that she listened and learned and followed them where they wanted her to go. Great leaders are able to connect and relate to their people. When you have influence over your people, you can get the results you want from them. Listening is Essential

Tom Fox celebrates this special 100th episode of Innovation in Compliance with Megan Dougherty. Megan is the co-founder of One Stone Creative, the company that produces this podcast. The show takes a different spin: first Megan interviews Tom, then he interviews her. They talk about how the show started, favorite episodes, and how you and your business can benefit from podcasting. Favorite EpisodesMegan wants to know what Tom’s favorite episode has been so far. He responds that he loves all the episodes equally, but he has the most fun doing series. It’s easy for him to create so much content because he’s continuously thinking up new ideas, he says. Origin of Innovation in Compliance Tom’s friend Howard Sklar, now a Managing Director at Morgan Stanley, introduced him to the world of podcasting. After Howard moved to the corporate world, Tom took over their podcast and went on to start several of his own. He feels that podcasting is like having a virtual cup of coffee with his guests: he sets out a short outli