31 Days to a More Effective Compliance Program

Thomas Fox
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31 Days to a More Effective Compliance Program

Tom Fox is the Compliance Evangelist and is universally recognized as one of the top experts in corruption compliance, literally across the globe. In this daily podcast series, he explains how to design, create and implement a best practices compliance program. Each month, he tackles a different area of compliance. From Internal Controls, to the Role of the Board of Directors, to Communication, to the Role of HR in Compliance, Investigations, 3rd Parties and Business Ventures. Listen in each day and get one tip you can implement at little or no cost to enhance your compliance program.

  1. Internal Controls

    23시간 전 · 보너스

    Internal Controls

    Welcome to a special podcast series on the Compliance Podcast Network, 31 Days to a More Effective Compliance Program. Over these 31 days of the series in January 2025, Tom Fox will post a key part of a best practices compliance program daily. By the end of January, you will have enough information to create, design, or enhance a compliance program. Each podcast will be short, at 6-8 minutes, and will include three key takeaways you can implement at little or no cost to help update your compliance program. I hope you will join us each day in January for this exploration of best practices in compliance. Today, the focus is on internal controls and their critical role in compliance frameworks. The episode provides a comprehensive definition of internal controls, emphasizing their importance for achieving operational efficiency, reliable financial reporting, compliance with laws and policies, and the reduction of risks such as fraud and waste. The discussion highlights the requirements outlined in the FCPA for internal controls, including the authorization and documentation of transactions and the protection and accountability of assets. Moreover, four significant internal controls for compliance practitioners are identified: delegation of authority, maintenance of the vendor master file, contracts with third parties, and management of cash and currency transfers. The episode underscores that effective internal controls are essential and mandated by the FCPA, forming a cornerstone of any robust compliance program. Key highlights: Defining Internal Controls Key Components of Internal Controls Internal Controls in Compliance Programs Resources: Listeners to this podcast can receive a 20% discount on The Compliance Handbook, 5th edition, by clicking here. Learn more about your ad choices. Visit megaphone.fm/adchoices

    8분
  2. Policies and Procedures

    1일 전 · 보너스

    Policies and Procedures

    Welcome to a special podcast series on the Compliance Podcast Network, 31 Days to a More Effective Compliance Program. Over these 31 days of the series in January 2025, Tom Fox will post a key part of a best practices compliance program daily. By the end of January, you will have enough information to create, design, or enhance a compliance program. Each podcast will be short, at 6-8 minutes, and will include three key takeaways you can implement at little or no cost to help update your compliance program. I hope you will join us each day in January for this exploration of best practices in compliance. In this episode, we review the importance of having well-crafted compliance policies and procedures as the foundation of a robust compliance program. As highlighted by the 2024 ECCP and 2020 FCPA Resource Guide, such policies and procedures are crucial for addressing and mitigating risks identified during a company’s risk assessment. Regulators emphasize having articulated anti-bribery and anti-corruption policies regularly reviewed and updated to reflect evolving risks. We discuss the five general elements of a compliance policy and underscore the need for consistent implementation to maintain the credibility and effectiveness of the compliance program. Key takeaways include the necessity of written policies, expectations from the DOJ and SEC, and the critical role of institutional fairness. Key highlights: Importance of Compliance Policies Key Elements of Compliance Policies Assessment and Evolution of Policies Resources: Listeners to this podcast can receive a 20% discount on The Compliance Handbook, 5th edition, by clicking here. Learn more about your ad choices. Visit megaphone.fm/adchoices

    8분

  3. 2일 전 · 보너스

    The Importance and Construction of a Corporate Code of Conduct

    Welcome to a special podcast series on the Compliance Podcast Network, 31 Days to a More Effective Compliance Program. Over these 31 days of the series in January 2025, Tom Fox will post a key part of a best practices compliance program daily. By the end of January, you will have enough information to create, design, or enhance a compliance program. Each podcast will be short, at 6-8 minutes, and will include three key takeaways you can implement at little or no cost to help update your compliance program. I hope you will join us each day in January for this exploration of best practices in compliance. This episode explores the critical value and construction of a corporate Code of Conduct, explaining its evolution from a legalistic document to a cornerstone of compliance programs. The discussion includes an analysis of the 2016 SEC Enforcement Action against United Airlines, highlighting how violations of the Code of Conduct can lead to severe consequences, including substantial penalties and executive resignations. Key takeaways emphasize that a Code of Conduct should be tailored to a company’s specific culture and industry, must be accessible to all employees, and needs to be regularly updated and documented to ensure its effectiveness. Tune in to learn why a robust Code of Conduct is foundational for any compliance program. Key highlights: Introduction to Code of Conduct Regulatory Expectations and Guidelines Crafting an Effective Code of Conduct Resources: Listeners to this podcast can receive a 20% discount on The Compliance Handbook, 5th edition, by clicking here. Learn more about your ad choices. Visit megaphone.fm/adchoices

    9분
  4. Moving Compliance Down into an Organization

    3일 전 · 보너스

    Moving Compliance Down into an Organization

    Welcome to a special podcast series on the Compliance Podcast Network, 31 Days to a More Effective Compliance Program. Over these 31 days of the series in January 2025, Tom Fox will post a key part of the best practices compliance program daily. By the end of January, you will have enough information to create, design, or enhance a compliance program. Each podcast will be short, at 6-8 minutes, and will include three key takeaways you can implement at little or no cost to help update your compliance program. I hope you will join us each day in January for this exploration of best practices in compliance. In this episode, Tom Fox discusses the importance of embedding a culture of compliance throughout all levels of an organization. Mike Volkov emphasizes that having senior management committed to compliance is not enough; the culture must permeate middle and lower management for a program to be effective. The 2024 ECCP underscores the necessity for ethical values to be embedded throughout the company’s hierarchy. This involves senior and middle management actively demonstrating their commitment to compliance, even in the face of competing business interests. Middle management plays a critical role, as they are the primary interface between most employees and upper management. The script highlights practical steps such as assembling compliance focus groups, training managers in effective listening, and ensuring organizational justice to operationalize a compliance program effectively. We also consider how to assess the real-world application of compliance measures within the company and the need for consistent and fair disciplinary actions across different regions and business units to reinforce a culture of compliance. Key highlights: Embedding Compliance Culture Role of Middle Management Tone at the Bottom Resources: Listeners to this podcast can receive a 20% discount on The Compliance Handbook, 5th edition, by clicking here. Learn more about your ad choices. Visit megaphone.fm/adchoices

    9분
  5. Leadership’s Role in Shaping Corporate Culture and Compliance

    4일 전

    Leadership’s Role in Shaping Corporate Culture and Compliance

    Welcome to a special podcast series on the Compliance Podcast Network, 31 Days to a More Effective Compliance Program. Over these 31 days of the series in January 2025, Tom Fox will post a key part of a best practices compliance program daily. By the end of January, you will have enough information to create, design, or enhance a compliance program. Each podcast will be short, at 6-8 minutes, and will include three key takeaways you can implement at little or no cost to help update your compliance program. I hope you will join us each day in January for this exploration of best practices in compliance. In today’s episode, we dive into the critical role of senior management in fostering a strong corporate culture of compliance, as highlighted by the 2022 Monaco Memo and the 2020 FCPA Resource Guide, 2nd edition. Emphasizing that corporate culture is vital to a company’s success, we discuss how the DOJ assesses ethical cultures and the importance of senior management’s active participation in compliance efforts. The episode outlines five key factors to guide senior leadership in setting, modeling, and monitoring the right tone at the top. These include clear communication of values, personal commitment to those values, supportive systems, integration into decision-making, and empowering managers to make ethically sound decisions. We conclude with three takeaways: senior management must engage in compliance, the DOJ evaluates corporate culture during investigations, and CEOs should be seen as chief compliance ambassadors. Key highlights: The Importance of Corporate Culture DOJ’s Expectations for Senior Management Five Factors for Effective Leadership Resources Listeners to this podcast can receive a 20% discount on The Compliance Handbook, 5th edition, by clicking here. Learn more about your ad choices. Visit megaphone.fm/adchoices

    8분
  6. Continuous Monitoring and Continuous Improvement

    5일 전

    Continuous Monitoring and Continuous Improvement

    Welcome to a special podcast series on the Compliance Podcast Network, 31 Days to a More Effective Compliance Program. Over these 31 days of the series in January 2025, Tom Fox will post a key part of a best practices compliance program daily. By the end of January, you will have enough information to create, design, or enhance a compliance program. Each podcast will be short, at 6-8 minutes, and will include three key takeaways you can implement at little or no cost to help update your compliance program. I hope you will join us each day in January for this exploration of best practices in compliance. Continuous monitoring and improvement are essential in developing effective compliance programs, serving as a dynamic approach to addressing and adapting to evolving risks. This underscores the critical nature of these concepts, particularly highlighted in the 2023 update to evaluating corporate compliance programs, and emphasizes the necessity for organizations to integrate real-time data and maintain comprehensive documentation in their decision-making processes. This approach ensures compliance and fosters agility and resilience in navigating the complexities of modern business landscapes. Key highlights: Understanding Changes in Company Risks Continuous Monitoring and Improvement External Information Sources for Compliance Resources: Listeners to this podcast can receive a 20% discount on The Compliance Handbook, 5th edition, by clicking here. Learn more about your ad choices. Visit megaphone.fm/adchoices

    8분

  7. 6일 전 · 보너스

    Building Effective Compliance Through Payroll

    Welcome to a special podcast series on the Compliance Podcast Network, 31 Days to a More Effective Compliance Program. Over these 31 days of the series in January 2025, Tom Fox will post a key part of a best practices compliance program daily. By the end of January, you will have enough information to create, design, or enhance a compliance program. Each podcast will be short, at 6–8 minutes, and will include three key takeaways you can implement at little or no cost to help update your compliance program. I hope you will join us each day in January for this exploration of best practices in compliance. Operationalizing a compliance program through payroll is a vital component of a company’s risk management strategy, serving as both a control mechanism and a crucial link to the broader compliance function. Payroll is instrumental in identifying potential red flags, such as offshore payments, which require meticulous documentation and enhanced internal controls to prevent compliance violations. Tom Fox, a noted expert in compliance, underscores the significant role payroll plays in fortifying compliance programs by aligning with FCPA requirements and preventing fraudulent activities. He advocates for implementing demonstrable controls like Approval Certification processes, segregation of duties, and regular review procedures to mitigate compliance risks effectively. According to Tom, by embedding robust controls within payroll operations, companies deter potential violations and ensure compliance is woven into the organizational fabric, thus operationalizing their compliance programs seamlessly. Key highlights: Payroll should be on the front lines of any attempt to prevent, detect, and remediate anti-corruption compliance. Key compliance program components for payroll. Watch for offshore payments. Resources: Listeners to this podcast can receive a 20% discount on The Compliance Handbook, 5th edition, by clicking here. Learn more about your ad choices. Visit megaphone.fm/adchoices

    9분
  8. Argentieri on Clawbacks and Holdbacks

    1월 7일 · 보너스

    Argentieri on Clawbacks and Holdbacks

    Welcome to a special podcast series on the Compliance Podcast Network, 31 Days to a More Effective Compliance Program. Over these 31 days of the series in January 2025, Tom Fox will post a key part of a best practices compliance program daily. By the end of January, you will have enough information to create, design, or enhance a compliance program. Each podcast will be short, at 6-8 minutes, and will include three key takeaways you can implement at little or no cost to help update your compliance program. I hope you will join us each day in January for this exploration of best practices in compliance. In this episode, we explore the critical insights from the DOJ Clawback Program for compliance professionals. It emphasizes integrating compliance into the compensation structure as an effective strategy to promote ethical behavior and prevent misconduct. We also delve into the significance of financial accountability, noting the DOJ’s practice of reducing fines for firms that reclaim compensation from responsible employees. Finally, the episode highlights the necessity of continuously evaluating and enhancing compliance-linked compensation systems, urging companies to regularly assess their effectiveness, gather feedback, and make necessary adjustments. This iterative process reinforces the idea that compliance programs must be dynamic and proactive rather than static operational checklists. Key highlights: Integrating Compliance into Compensation Financial Accountability Emphasis DOJ’s Commitment to Individual Accountability Continuous Evaluation and Improvement Resources: Listeners to this podcast can receive a 20% discount on The Compliance Handbook, 5th edition, by clicking here. Learn more about your ad choices. Visit megaphone.fm/adchoices

    8분
모두 보기(604개)

소개

Tom Fox is the Compliance Evangelist and is universally recognized as one of the top experts in corruption compliance, literally across the globe. In this daily podcast series, he explains how to design, create and implement a best practices compliance program. Each month, he tackles a different area of compliance. From Internal Controls, to the Role of the Board of Directors, to Communication, to the Role of HR in Compliance, Investigations, 3rd Parties and Business Ventures. Listen in each day and get one tip you can implement at little or no cost to enhance your compliance program.

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