The Compliance Handbook Tom Fox

To leave a legacy of operational excellence in compliance is what Global Chief Compliance Officer, Strategic Leader, and Partner at StoneTurn Jonathon Kellerman hopes to achieve in this dynamic industry. 

He has been at the forefront of the evolution of compliance programs in health care, life sciences, and pharmaceuticals with over 25 years of experience in compliance strategy, program development and execution; controls design; operational excellence; risk assessment and mitigation; complex investigations; and negotiating and managing government settlements. 

Major takeaways discussed in the episode:

✔️ Glean lessons from Jonathon's unique journey starting a health care compliance practice that served as the first in the industry. His experience in a consulting practice helped health care providers with complex compliance challenges. 

✔️ Traditional compliance has been limited by the rigid standards around an audit mentality. Jonathon shares that the focus on looking at transactions in silos instead of the holistic approach of looking at data over time is what's made compliance programs from being truly effective.

✔️ Compliance programs limiting themselves to the standard practice of risk management will risk being irrelevant in future companies. 

✔️ The COVID-19 pandemic broke barriers and accelerated digital transformation. Every company does it to some extent in utilizing digital platforms and data that opens up new ways of rethinking our traditional engagements. 

✔️ Advanced technologies use data and digital platforms that create a new type of risk. But it also means that more than ever, there's a lot of pressure put on companies to operate quickly and very efficiently.

✔️ The skills needed for the compliance professionals of the future is something never taught in law school. Jonathon emphasizes that an individual in the compliance space must speak business language, have trust and credibility, and be willing to think outside the box. 

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Jonathon L. Kellerman is a Partner with StoneTurn, brings over 25 years of experience in compliance strategy, program development, and execution; controls design; operational excellence; risk assessment and mitigation; complex investigations; and negotiating and managing government settlements. 

A former Global Chief Compliance Officer in the heavily regulated pharmaceuticals industry, Jonathon draws on his in-house career, as well as 20 years as a trusted adviser, to counsel executives and Board members on evolving compliance risk and to help clients design innovative, data-enabled, and business-friendly compliance solutions to proactively and reactively manage risk.

Jonathon has deep experience pioneering technology and data-driven compliance solution innovation, operational improvement, and business protection/enablement in the pharmaceutical, life sciences, and healthcare industries, including his prior role as Global Chief Compliance Officer of Allergan.

LinkedIn: https://www.linkedin.com/in/jonathonkellerman/
Email: jkellerman@stoneturn.com

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About Thomas Fox:
Thomas Fox, the Compliance Evangelist®, is one of the leading writers, thinkers, and commentators on anti-bribery and anti-corruption compliance. In this latest edition of The Compliance Handbook, he continues to arm seasoned compliance professionals and those new to the realm with the practical, actionable guidance and tools needed to design, create, implement and continually enhance a best practices compliance program.
Order your copy OR copies of The Compliance Handbook: A Guide to Operationalizing Your Compliance Program.
 http://www.lexisnexis.com/fox25
 

The compliance sphere is exciting as it is challenging to look into how the risk landscape is quickly changing. In this episode, Compliance Evangelist Tom Fox engages in a power-packed conversation with Jonathan Marks, a long-time professional in internal audit and thought leader in the compliance space. 

Tune in and extract valuable insights as they go deep on the evolution of the internal audit profession since implementing the SOX Act of 2002, the arc of professionalism in compliance, the importance of an overall integrated structure of Enterprise Risk Management, and many more. 

Major takeaways discussed in the episode:

✔️ Why the COSO 2013 Internal Controls Framework serves as a seminal moment for compliance professionals and helps keep up with the exponential speed of developments in the space.

✔️ The move to an overall integrated structure of Enterprise Risk Management is critical in proactively identifying, assessing, monitoring, and responding to risks and opportunities.

✔️ The 2020 Update to the Evaluation of Corporate Compliance Programs brought business intelligence to compliance and serves as a significant step towards enterprise resiliency. Organizations today have to be flexible and nimble and adapt to changes of new risks to survive and evolve. 

✔️ The importance of prioritizing root cause analysis in investigation and approach. Jonathan has advocated for this in so long and the rigor around the process. "When I look at the root cause, it's really finding that one domino that fell and tipped off everything else. Often, some recommendations are made specifically related to internal controls that are treating the symptoms and not the underlying issues. And then we have this funky word called recidivism. And so that same problem keeps happening or coming back."

✔️ The three vital skills that have come into play that a compliance professional needs today are being "digitally athletic" to understand data analytics, be a great communicator and possess critical thinking to keep up with the evolving compliance functions.

✔️ The most successful auditors are the ones that can communicate, build trust and relationships with people. 

✔️ Companies and compliance need to be thinking about into 2025 are becoming more risk resilient, with what Jonathan calls the Bermuda Triangle — where internal audit, compliance, and legal all work harmoniously.

✔️ From a board member's perspective going into the future, one has to start asking tough questions surrounding the company's audit process and creating an internal audit plan. 

Jonathan T. Marks is the firm leader of the global fraud and forensic investigations and compliance practice at leading advisory, tax, and assurance firm Baker Tilly. He has more than 30 years of experience working closely with his clients, their board, senior management, and law firms on global and cross-border fraud and misconduct investigations, including bribery, corruption, and compliance matters.

Jonathan specializes in internal and regulatory investigations, governance matters; risk assessment, design, and implementation of compliance programs; global fraud risk management programs; and compliance coordination and monitoring services for the private, public, not-for-profit sectors. He assists his clients to mitigate potential issues by conducting root-cause analysis, developing remedial procedures, and designing or enhancing governance and compliance systems along with internal controls, policies and procedures, and customized training.

LinkedIn: Jonathan T. Marks
Website: www.bakertilly.com/contact/directory/jonathan-t-marks/
Blog: boardandfraud.com  

Ten years ago, Compliance was all about policies and procedures that are mere guidelines that hugely unaddressed how to measure compliance effectiveness, identify the metrics, and look at the accounting data.

Internationally recognized anti-fraud and compliance thought leader Vincent Walden shares his insights on how far we've come since then. He talks about the practical strategies, tools, and techniques used in fraud detection and prevention applied to compliance and how data and data analytics have evolved, and his overall inspiring perspective in this conversation.

Major takeaways discussed in the episode:

✔️ Why Vincent's involvement in fraud prevention in the early years of his career taught him strategies about the use of data and data analytics in compliance. "When a company was investigated for FCPA, what was the first thing that they asked for? They wanted emails and payment transactions. And why weren't we looking at those proactively? And that's really what drove my interest in building proactive compliance programs because I saw so many FCPA investigations that finding those improper payments was what they were making and breaking the cases. And that's what drove a lot of my passion for building out these compliance program models."

✔️ As an early advocate of using data in compliance solutions, Vincent saw how vital the melding is of internal audit and compliance. "Internal audit understood the books and records and compliance understood the legal risks. The magic was when the two worked together. That's how it started. We've seen compliance become more mature, particularly over the last two to three years." 

✔️ Beginning in 2017, the DOJ started talking about the use of data in compliance. This changed the reception in the marketplace, empowering CCOs to have sufficient access to operational transactional data sources that were spot-on and accelerated proactive discussions. Compliance professionals will become more data-driven as time goes on. 

✔️  Data sharing consortium in the future. According to Vincent, the idea of companies sharing their risk algorithms without having to share their data to build better, data-driven compliance programs and sharing best practices is something fascinating and worthy looking forward to.

✔️  The creation of A&M's Digital Twin service is Vincent's dream compliance monitoring platform. "This allows us to pull in client-relevant payments data and risk scores in a cost-effective way. That means what used to take me 300+ hours of staff time to pull payment data out of a system, and all the mathematical gymnastics put in a database and build out reports now takes me less than 30 hours. That's a 10x reduction in time and a 10x reduction in fees."

Vincent Walden is a Managing Director with Alvarez & Marsal's Disputes and Investigations in New York. He specializes in forensic data analytics, continuous controls monitoring, information governance, and legal discovery services. His primary focus area is in providing leading technology perspectives on proactive compliance programs and reactive investigations.

LinkedIn: @vincewalden
Email: vwalden@alvarezandmarsal.com
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About Thomas Fox:
Thomas Fox, the Compliance Evangelist®, is one of the leading writers, thinkers, and commentators on anti-bribery and anti-corruption compliance. In this latest edition of The Compliance Handbook, he continues to arm seasoned compliance professionals and those new to the realm with the practical, actionable guidance and tools needed to design, create, implement and continually enhance a best practices compliance program.
  
Order your copy OR copies of The Compliance Handbook: A Guide to Operationalizing Your Compliance Program. Save 25% off.
 http://www.lexisnexis.com/fox25

Compliance Evangelist Tom Fox shares the screen with Philip Winterburn, Founder and Chief Strategy Officer of Convercent, in yet another engaging conversation here at The Compliance Handbook podcast. Listen in as Philip shares his journey in compliance, the revolution that Convercent software created in the ethics space, and what he's seen from his perspective over the past decade. 
Key takeaways in the episode:
✔️ Glean lessons how Philip's love for mathematics led him in applying technology to solve business problems and co-founding Convercent nine years ago as a dream to bring something different into the ethics and compliance world. 
✔️ Why melding the concepts of behavioral science, ethics into compliance requires having good metrics to identify areas of weakness, where and how to apply the change, track trends, understand human behavior and influence those people, and then use data again to measure the impact of those programs. 
✔️ Consider how the speed of social media and the potential reputational damage can get tricky for companies to defend themselves. Philip reminds: you don't need a great PR firm to protect you, but be good through and through. You have to act with integrity in everything you do.
✔️ Understand how the evolution of the thinking of risk is a business opportunity. Philip explores his observations on the shift from legal to business and from law to behavior in the compliance profession.
✔️ Lean in how Convercent journeyed as a profession of going from the regulatory world to now offering more about business enablement and business outcomes with the tools and capabilities they offer.  
✔️ Looking into the future, it can be both an opportunity and challenge for the compliance and ethics profession to use artificial intelligence to accelerate and expand reach within organizations and elevate more significant insights.
✔️ The merging of Convercent into OneTrust portends for Convercent, driving ethics to the center of business and moving forward to a truly enterprise-wide risk management solution. 
✔️ Analyzing and synthesizing information into key insights and telling stories, and engaging our business peers will be a critical skill set necessary for ethics and compliance professionals in the future.
✔️ Failing to embrace environmental, social, and governance (ESG) risks will be detrimental to the ethics and compliance professionals if we don't jump into it. 
Philip Winterburn is the Founder and Chief Strategy Officer of Convercent, the world's first Ethics Cloud Platform. As a leading global provider of ethics and compliance software, companies use Convercent to engage with employees, understand organizational risk, and create more robust, sustained business performance opportunities. Convercent has over 600 global customers, including Microsoft, Four Seasons Hotels and Resorts, Capgemini, and Under Armour. Their customers span all industries, regions, and sizes and represent a growing breed of business leaders who care deeply about driving ethics to the center of their organizations. 
Email: pw@convercent.com
LinkedIn: Philip Winterburn 
Website: www.convercent.com

In this special episode, Compliance Evangelist Thomas Fox sits in an engaging and value-packed discussion with Hui Chen, former compliance consultant to the U.S. Department of Justice's Fraud Section and now chief integrity officer for the Hawaii Attorney General's office.

KEY TAKEAWAYS:

✔️ Hui advocates the need for a very interdisciplinary approach to compliance. Practitioners should become open to learning about social sciences and quantitative and qualitative studies, scientific methods, understanding how research is done, evaluating research outcomes, and evaluating the application of research.

✔️ Realize that people don't govern their daily lives by reading the codes and the regulations but with processes and behaviors, and that's what should be focused on by using a behavioral-based approach. Give the organization reason, opportunities, or motivations to NOT engage in the behavior you don't want them to do. 

✔️ What differentiates compliance officers is their knowledge and familiarity with the business. It is required to be versatile in understanding every function in the organization and working with them. Compliance professionals need to develop those skill sets to appreciate and understand and measure and be part of what the business does in all of those aspects. 

✔️ How do we measure that outcome? By going back to define what you are doing this for, if you do it successfully, what success looks like, and try to find measurements for that, that is important because that goes to whether we have all been wasting our time not with the compliance programs.

Hui is an internationally renowned leader in ethics and compliance. She regularly consults with companies as well as regulatory and enforcement authorities around the world, advising them on the design, implementation, and assessment of ethics & compliance programs. Hui is also a thought leader who collaborates with leading academic researchers and publishes regularly in business and academic journals.
Chen did this interview entirely in her personal capacity and nothing she said should be attributed to her office.

Connect with Hui Chen
Website: www.HuiChenEthics.com
Twitter @HuiChenEthics
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About Thomas Fox:
Thomas Fox, the Compliance Evangelist®, is one of the leading writers, thinkers, and commentators on anti-bribery and anti-corruption compliance. In this latest edition of The Compliance Handbook, he continues to arm seasoned compliance professionals and those new to the realm with the practical, actionable guidance and tools needed to design, create, implement and continually enhance a best practices compliance program.
 
The "Nuts and Bolts" for Creating a Comprehensive Compliance Plan
 
This chapter of this unique work lays out a succinct yet thorough one month approach to operationalizing a company's compliance regimen. Beginning with a section on what 2020 brought to the compliance landscape, each chapter methodically outlines best practices for everything from establishing policies, procedures, and internal controls, to assessing risk, training, handling investigations, and more. Each day ends with three key takeaways you can implement at little or no cost.
 
Understanding Compliance Responsibility Across the Organization
 
The Compliance Handbook also takes a close look at all professionals' roles with compliance responsibility, from Compliance Officers and Boards of Directors to Human Resources, to Internal Audit and Internal Controls and Communications and Training professionals.

Order your copy OR copies of The Compliance Handbook: A Guide to Operationalizing Your Compliance Program. Save 25% off.
 http://www.lexisnexis.com/fox25

Compliance Evangelist Tom Fox sits in for an insightful yet powerful conversation with James Gellert, Chairman and Chief Executive Officer (CEO) of Rapid Ratings International. In this episode, glean the lessons that companies should never forget from the 2008 Financial Crisis to the Coronavirus health crisis and the total evolution of the business of compliance. 

Key points discussed in this episode:

✔️ Finance and financial health is an excellent example of a risk area that historically may have been isolated or siloed for the finance team or a finance person within the supply chain to look at. But in reality, all of these risks are connected.

✔️ Why the Rapid Rating approach helps companies manage their third-party supply chains through assessing financial health. We've seen significant changes over the last five to 10 years in the importance of financial health and how it helps define risk management programs. 

✔️ Understand what a 3rd party ecosystem is and why companies need to understand the breadth and scope of their 3rd parties are really powerful. The more businesses can collaborate and communicate with each other, supply chain, risk management, supplier collaboration; these are crucial elements to creating the most robust ecosystem and benefiting both sides of that equation. 

✔️ The silver lining to the Covid crisis made supply chain risk management stronger from now on, and more companies were able to adopt techniques than we ever had before. 

✔️ More companies will benefit from more robust ecosystem creation and strengthening the ecosystems they've got into the future by embracing the importance of the digitalization of data they already have. Companies will need to spend a lot of time, money, and resources cleaning their data on their third parties and then implementing systematic approaches to managing those risks. 

James H. Gellert is the Chairman and CEO of RapidRatings International. Previously, he was the Managing Partner of Howland Partners, LLC, and Howland Securities LLC, which provided consulting, business development, capital raising, and M&A advisory to companies in the financial information and technology markets. Before those positions, he served as CEO of a number of technology companies, including wireless software and research companies SkyScout and Unstrung.

Website: www.rapidratings.com

About Thomas Fox:
Thomas Fox, the Compliance Evangelist®, is one of the leading writers, thinkers, and commentators on anti-bribery and anti-corruption compliance. In this latest edition of The Compliance Handbook, he continues to arm seasoned compliance professionals and those new to the realm with the practical, actionable guidance and tools needed to design, create, implement and continually enhance a best practices compliance program.

The "Nuts and Bolts" for Creating a Comprehensive Compliance Plan 
This chapter of this unique work lays out a succinct yet thorough one month approach to operationalizing a company's compliance regimen. Beginning with a section on what 2020 brought to the compliance landscape, each chapter methodically outlines best practices for everything from establishing policies, procedures, and internal controls, to assessing risk, training, handling investigations, and more. Each day ends with three key takeaways you can implement at little or no cost.
 
Understanding Compliance Responsibility Across the Organization
 
The Compliance Handbook also takes a close look at all professionals' roles with compliance responsibility, from Compliance Officers and Boards of Directors to Human Resources, to Internal Audit and Internal Controls and Communications and Training professionals.

Order your copy OR copies of The Compliance Handbook: A Guide to Operationalizing Your Compliance Program. Save 25% off.
 http://www.lexisnexis.com/fox25