Innovation In Compliance With Tom Fox

Brittany Brown and Rob Winters are the co-founders of Digitiv, a marketing and website design agency. Brittany is the Business Officer and Rob is Technology Officer of Digitiv. Tom Fox welcomes them to this week’s episode to talk about their company, the benefits of data management, PodOps, and the components of a successful podcast.  Data Management: The Core of Digitiv Digitiv maintains that your website and social media presence are crucial to growing your business. They provide their clients with strategies and marketing efforts that aid growth, one of which is data management. Tom comments that some businesses may think that they are too small to worry about data management. He asks why Brittany and Rob place it as one of their primary services. Rob responds that every business, no matter the size, should start thinking about data management from the start. Whenever the Digitiv team begins to build a new website there is usually some customer data that is not protected by the SSL certificate, making it

Welcome to a podcast series on the fight to secure Supply Chains through cross-industry innovation. Exiger sponsors this series. In this series, we will explore the ongoing efforts of Exiger to lead the discussion and enhancement of Supply Chain Risk Management. Over this series, I visit with Erika Peters, Senior Vice President and Global Head of Third Party & Supply Chain Risk Management; Tim Stone, Senior Director, Supply Chain Risk Management for Exiger Federal Solutions; Kim Lee, Director who focuses on risk and compliance; Nick Wildgoose, a Consultant at Exiger; Skyler Chi, Director and Deputy Head of Supply Chain and Third-Party Risk Management; Andrew Lehmann, Associate Director at Exiger; Jennifer Nestor, Vice President at Exiger, Americas and Public Sector; Theresa Campobasso, Senior Director for Defense Programs at Exiger; Dan Banes President of Commercial Technology, and Mark Henderson, Director of Solution Design Lead. In this concluding episode 5, I am joined by Dan Banes, President of Commercial

Welcome to a podcast series on the fight to secure Supply Chains through cross-industry innovation. Exiger sponsors this series. In this series, we will explore the ongoing efforts of Exiger to lead the discussion and enhancement of Supply Chain Risk Management. Over this series, I visit with Erika Peters, Senior Vice President and Global Head of Third Party & Supply Chain Risk Management; Tim Stone, Senior Director, Supply Chain Risk Management for Exiger Federal Solutions; Kim Lee, Director who focuses on risk and compliance; Nick Wildgoose, a Consultant at Exiger; Skyler Chi, Director and Deputy Head of Supply Chain and Third-Party Risk Management; Andrew Lehmann, Associate Director at Exiger; Jennifer Nestor, Vice President at Exiger, Americas and Public Sector; Theresa Campobasso, Senior Director for Defense Programs; Dan Banes President of Commercial Technology, and Mark Henderson, Director of Business Development. In this episode 4, we discuss Supply Chain issues in the defense industrial base (DIB) wi

Welcome to a podcast series on the fight to secure Supply Chains through cross-industry innovation. Exiger sponsors this series. In this series, we will explore the ongoing efforts of Exiger to lead the discussion and enhancement of Supply Chain Risk Management.  Over this series, I visit with Erika Peters, Senior Vice President and Global Head of Third Party & Supply Chain Risk Management;  Tim Stone, Senior Director, Supply Chain Risk Management for Exiger Federal Solutions; Kim Lee, Director who focuses on risk and compliance; Nick Wildgoose, a Consultant at Exiger; Skyler Chi, Director and Deputy Head of Supply Chain and Third-Party Risk Management;  Andrew Lehmann, Associate Director at Exiger; Jennifer Nestor, Vice President at Exiger, Americas and Public Sector; Theresa Campobasso, Senior Director for Defense Programs; Dan Banes President of Commercial Technology, and Mark Henderson, Director of Business Development.  In this episode 3, we discuss Supply Chain issues in the Information Technology & Tel

Welcome to a podcast series on the fight to secure Supply Chains, through cross-industry innovation. This series is sponsored by Exiger. In this series we will explore the ongoing efforts of Exiger to lead the discussion and enhancement of Supply Chain Risk Management. Over this series, I visit with Erika Peters, Senior Vice President and Global Head of Third Party & Supply Chain Risk Management; Tim Stone, Senior Director, Supply Chain Risk Management for Exiger Federal Solutions; Kim Lee, Director who focuses on risk and compliance; Nick Wildgoose, a Consultant at Exiger; Skyler Chi, Director and Deputy Head of Supply Chain and Third-Party Risk Management; Andrew Lehmann, Associate Director at Exiger; Jennifer Nestor, Vice President at Exiger, Americas and Public Sector; Theresa Campobasso, Senior Director for Defense Programs; Dan Banes President of Commercial Technology, and Mark Henderson, Director of Business Development.  In this Episode 2, we discuss Supply Chain issues in manufacturing and consumer m

Alan Saquella is a fraud risk practitioner as well as a Certified Protection Professional and Certified Polygraph Examiner. He currently works as a full-time professor at the Embry-Riddle Aeronautical University where he teaches security, intelligence, and fraud investigation in the business world. Tom Fox welcomes him to this week’s show to talk about how the corporate security world and fraud investigation intersect and form a union, and how this union helps to build a more effective fraud prevention program.  The Plague Upon the Corporate World Tom wants to know how big an issue fraud and corruption are in the corporate world and how they manifest themselves. Alan believes that the statistics in the ACF report are not a true representation of fraud taking place in the real corporate world. He states, “Whether you're a private company or publicly-traded company, there's a lot more that goes on that's never reported.” He remarks that the report claimed that about 50% of fraud cases are prosecuted or brought

Welcome to a podcast series on the fight to secure Supply Chains through cross-industry innovation. Exiger sponsors this series. In this series, we will explore the ongoing efforts of Exiger to lead the discussion and enhancement of Supply Chain Risk Management.  Over this series, I visit with Erika Peters, Senior Vice President and Global Head of Third Party & Supply Chain Risk Management;  Tim Stone, Senior Director, Supply Chain Risk Management for Exiger Federal Solutions; Kim Lee, Director who focuses on risk and compliance; Nick Wildgoose, a Consultant at Exiger; Skyler Chi, Director and Deputy Head of Supply Chain and Third-Party Risk Management;  Andrew Lehmann, Associate Director at Exiger; Jennifer Nestor, Vice President at Exiger, Americas and Public Sector; Theresa Campobasso, Senior Director for Defense Programs; Dan Banes President of Commercial Technology, and Mark Henderson, Director of Business Development.  In this Episode 1, we discuss Supply Chain issues in the healthcare industry with Eri

Sandeep Bhide is the Vice President of Product Management at ProcessUnity, a company that is making good governance, risk, and compliance (GRC) practices and tools available to organizations via third-party risk and cybersecurity program management tools. Tom Fox welcomes him to this week’s show to talk about their Third-Party Risk: A Turbulent Outlook Survey report and how ProcessUnity helps their clients. The Purpose of ProcessUnity Tom asks Sandeep to explain the basis of ProcessUnity and the key products and services they are offering. Sandeep says that the company offers cloud-based solutions that provide help for organizations of all sizes, that allows them to automate their risk and compliance programs. He adds that it is an easily customizable program that reduces manual administrative tasks and allows customers to focus on “the more strategic risk mitigation activities”. ProcessUnity has the ability to review the company's GRC program and deliver great results quickly.  Third-Party Risk: A Turbulen

Paula Zirinsky is the co-founder and Chief Strategist of Structura Strategy Group, a company that specializes in marketing advice that helps companies build a strategic foundation. Tom Fox welcomes her to this week’s show to discuss the unintended effects of the pandemic within the workplace and how marketing benefits the company when the board takes it seriously.  Mentor and Career Inspiration  Paula calls Harold Dobbs the best boss she ever had. Dobbs was originally her mother’s eccentric boss who was the head of a liquor company, and he was very marketing and promotional oriented. He later opened a cooperative advertising business for liquor stores, where he gave her a job photocopying promotional flyers and putting them into envelopes. At the end of each workday, he thanked her for all the work she put in that day and how the company would not have existed without her help. As he was such an attentive boss who was passionate about his work, he instilled this enthusiasm for marketing and a strong work eth

Avi Singer is the founder and CEO of Showd.me, a company that is helping organizations provide remote and on-demand compliance training solutions, specifically in the healthcare space. Tom Fox welcomes him to this week’s show to talk about how Showd.me helps its clients and compliance as a service.   The Commercialization of Compliance Avi tells Tom that the name Showd.me came from a common experience: when you ask someone how they learned to do something they would usually reply, “Somebody showed me”. Showd.me began as a platform that was designed for companies to implement social and peer-to-peer learning. This means that it allows new employees to learn and train from more experienced employees across the organization, via an easy-to-use learning management platform. They grasped the opportunity to break into the healthcare compliance industry, where they aid in hiring, developing, retaining, and certifying the organization’s employees.  Compliance as a Service Tom asks Avi to define compliance as a serv

Blane Warrene is the Vice President of Product Management at Smarsh, an organization that helps companies manage risk in their electronic communications. Tom Fox welcomes him to this week’s show to talk about a variety of topics surrounding compliance around mobile and hybrid work environments.  Compliance Challenges in The Hybrid Work Environment There are three key factors that are compliance challenges in the hybrid work environment: the risk that comes with using company devices, bringing your own devices to handle company data, and consumer applications. Blane stresses that implementing policy is vital because policy is the frame in which the organization operates. However, Blane also remarks that a layer of processing technology has to be embedded within policy in order to completely tackle the issues that cause compliance challenges.  Finding The Right Balance Many companies and clients struggle with finding the right balance among apps, smartphones and global work tools. The key to achieving this ba

Kris Reynolds is the CEO of Arrowhead Consulting, a company that guides other organizations on managing their employees, processes, and tools. Tom Fox welcomes him to this week’s show to talk about corporate culture, strategies for post-pandemic productivity, and the future of project management.  Culture As a Focus Corporate culture is important and must be aligned with the business's core values. Your core values also can't be simple slogans that you have up on walls. They have to be constantly acted on. "If you're not really living and breathing the core values, you're not really going to be a culture fit," Kris tells Tom.  Post-Pandemic Strategies Kris itemizes three strategies companies should be engaging within the post-pandemic business world: creativity, relationships and connections, and going back to basics. Creativity in advertising and marketing is key, and Kris also suggests pairing creativity with relationships. "I would encourage companies whether you're small or large, to take the time to do

Andy Rudin is the Managing Principal of Contrary Domino, a management consulting company that improves financial performance by optimizing internal operations. Tom Fox welcomes him to this week’s show to talk about revenue risk management and revenue governance, and what they mean for the sales officers within organizations.   Contrary Domino Risk management is not often factored in the sales and marketing funnels of organizations. Andy founded Contrary Domino to answer this need. The percentage and likelihood of revenue opportunities closing or coming to fruition aren't often thought of as risk management problems. "I saw that opportunity and wanted to bring more process rigor to that, more mathematical rigor and bring the risk management principles into the realm of revenue generation," he tells Tom. Contrary Domino's client base is mainly information technology firms with sales forces of ten or more. "Helping organizations establish that culture and then establish processes and mechanisms to prevent ethic

Evgeny Likhoded is the founder and CEO of ClauseMatch, a company that provides financial institutions with a modern AI-based compliance platform to transform their regulatory change management process. Tom Fox welcomes him to this week’s show to talk about ClauseMatch, how it helps its clients, and the evolution of compliance.   Digital Transformation: The Core of ClauseMatch Bringing digital transformation to governance risk and compliance is at the core of the ClauseMatch platform. What ClauseMatch has built is a way for companies to collaborate in real-time on content, specifically content that needs strict and strong governance processes. "Primarily our platform is used for managing policies and procedures in a way that enables companies to track every single change every time the policy changes," Evgeny tells Tom. Ultimately it helps clients show their regulators that they have interpreted and incorporated the rules into their own internal governance frameworks, and have communicated that to their emplo

Mac Bartine is the CEO of SmartRIA, a market-leading compliance software platform. Tom Fox welcomes him to this week’s show to talk about his company's services and contributions to the compliance sector, what SmartRIA offers clients in terms of cybersecurity, and the future of technology solutions.   The Minimum Viable Product The Minimum Viable Product (MVP) is the first part of the startup process for platforms. It is recognizing the problems within your platforms and also believing that you can solve them. Mac explains to Tom that the problem SmartRIA solution identified in terms of the MVP is the compliance obligations. So many individuals are not experienced in managing compliance in their given industries, and so need a source of structure that understands where they are. SmartRIA offers them that, as well as the tools and frameworks needed.  Vendor Due Diligence & Data Governance Vendor due diligence and vendor management are key to managing cybersecurity risk. "You have to understand who you're wor

Dan Zitting, previously Chief Product Officer, now holds the title of CEO at Galvanize, a software company that helps its clients achieve their goals and objectives. He is also now the Chief Product Officer of Diligence. Tom Fox welcomes him back to this week’s show to take a look back at the GRC professional's role in corporate ESG and risk management.  GRC On The Frontline A company's defenses have to be in the remit of their GRC professional, not left up to the CSO. Dan remarks that while there is engagement by GRC professionals in minimizing company cyber risk, more needs to be done. GRC professionals have to ask themselves if they are managing cyber risk in ways that are helpful to the company's CSOs, by providing tools and resources to support them. "There's still work to be done in making sure that everything we're doing from a policy, controls, and compliance standpoint is actually adding value for the CSO and helping them deploy their programs, as opposed to just feeling like they're being checked o

In this episode of Taxman, Tom Fox and Tracy Howell conclude the special series by discussing a topic that has yet to be explored by most: tax and ESG.  How Tax and ESG Intersect Tracy tells Tom, “There are external forces pulling tax into the ‘S’ and ‘G’ of ESG.” In the social sector, different jurisdictions have different tax rates and laws, and as companies begin to operate in a tax-efficient manner, their activities will gravitate towards lower tax regimes. Tracy adds, “You’ve got forces trying to push the concept of ‘fair share’ rather than compliance with tax laws of different jurisdictions.” Governance-wise, it’s becoming more common for companies to be required to talk about their compliance tax audits.  The Role of Tax in a Company With the growing pressures on ESG transparency, there’s a push to standardize reporting and scorecarding of companies based on their tax transparency. This would include things like the reporting of an organization’s effective tax rate.  Tax and ESG in Multinational Org

As the Taxman five-part series nears the end, Tom Fox and Tracy Howell tackle an important topic that has become more prominent over the years: tax and supply chain.  How Tax Can Help Supply Chain Supply chain in a traditional sense focuses on the acquisition of goods, in particular the quality, cost, and delivery. There can be a substantial tax component in each of those steps to help companies attain goods at the lowest possible cost. Consequently, if supply chain does not have a relationship with tax, it can result in additional surprise costs being attached to goods. Data beyond the cost of goods, material, and service can be used to model and predict the additional tax burden so that better procurement decisions can be made.  Mitigating the Risk of Mission Creep  Establishing a connection between tax and supply chain in an organization is good, but the relationship needs to be kept fresh for a positive impact. In a company, people may be focused on so many different things that they forget to interact.

In episode 3 of the Taxman series, Tom Fox and Tracy Howell strive to answer the question: 'Why should tax have a seat at the table?’ Tax and the Table The table refers to the front end of when an organization is trying to define what it wants to do, where it wants to do it, and how it’s going to perform. A corporation’s ultimate objective is to generate net income or distributable profit, something tax professionals are well-suited to assist with because they are experts in damage control and risk mitigation. Tracy points out, “Tax can provide an umbrella to achieve corporate objectives if they’re involved in the front end.” Tax’s Relationship with Other Stakeholders  In a company, a functional lead will often pose the question: ‘Why do we need tax here?’ According to Tracy, “A good tax guy has to be proactive and provide examples to get the tax men at the table.” Educating Corporate Functions Outside of Tax  Tracy’s advice is to build a relationship with the functional experts, and “create the situation

Tom Fox and Tracy Howell continue their exploration of the intersection between compliance and tax in episode 2, where they touch on the practice of transfer pricing.  The Concept of Transfer Pricing Transfer pricing encompasses the methodologies required by tax code to price transactions between affiliated companies. Devising an arm's length rate for comparable transactions between comparable entities is more art than science. As far as compliance is involved, Tracy believes that, “If you’re a compliance officer that can say anything more than just the words, ‘transfer pricing,’ then you are, indeed, an FOT (friend of tax).”  Parties Involved in Transfer Pricing Governments (taxing jurisdictions) tend to be involved with different regimes for selling and buying. Third party organizations that are involved currently only consist of the OECD (Organization for Economic Cooperation and Development), who push standard transfer pricing laws and regulations throughout the world.   The objective of the governments