The Compliance Handbook

By: Tom Fox
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  • Summary

  • The best-selling Compliance Handbook by Compliance Evangelist and Compliance Podcast Network founder, Tom Fox has been updated, revised and improved in its new Second Edition. This new podcast series will build upon the best ‘nuts and bolts’ Compliance Handbook around to provide you the best information on implementing and enhancing a best practices compliance program.
    2021
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Career Success Economics Management
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Episodes
  • Using Compliance Data to Facilitate Business Efficiency with Jonathon L. Kellerman

    Using Compliance Data to Facilitate Business Efficiency with Jonathon L. Kellerman
    Jul 27 2021
    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.  ____________________________________________________________________ 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 ____________________________________________________________________ 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  
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    35 mins
  • The Evolution of Audit and Compliance with Jonathan T. Marks

    The Evolution of Audit and Compliance with Jonathan T. Marks
    Jul 6 2021
    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  
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    32 mins
  • Evolution in Data Analytics with Vincent Walden

    Evolution in Data Analytics with Vincent Walden
    Jun 22 2021
    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 ____________________________________________________________________ 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
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    21 mins

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