117 episodes

Innovation in compliance brings you interviews with industry leading experts who are changing the way practitioners approach compliance. Host Tom Fox, the Compliance Evangelist and Voice of Compliance is driving the conversation about compliance into the 2020s and beyond with his focus on innovations for the compliance practitioner and the compliance profession. If you want to learn how to bring business solutions to compliance problems to more fully operationalize compliance, this is the podcast for you.

Innovation in Compliance with Tom Fox Thomas Fox

    • Management

Innovation in compliance brings you interviews with industry leading experts who are changing the way practitioners approach compliance. Host Tom Fox, the Compliance Evangelist and Voice of Compliance is driving the conversation about compliance into the 2020s and beyond with his focus on innovations for the compliance practitioner and the compliance profession. If you want to learn how to bring business solutions to compliance problems to more fully operationalize compliance, this is the podcast for you.

    Gini Dietrich on Spotting Red Flags

    Gini Dietrich on Spotting Red Flags

    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 thing, it makes them more concrete; and for another thing, you can take your questions into your meetings to remind yourself to ask certain questions if red flags arise. You should be constantly evaluating your business relationships. Ask follow up questions. Gini advocates asking why at least three times. Tom comments that the compliance industry uses that exact technique; it’s called root cause analysis.

    Learn to Say No
    Tom asks, “Why is the ability to say no critical for business owners and compliance professionals?” Gini responds that in business relationships, if you can’t find any red flags then it’s usually going to be a good relationship. The inverse is also true: if there are red flags then the relationship is usually going to be difficult. The other reason why being willing to say no is important, is that in the PR business as in compliance, you’re selling your time and you can’t scale that. So it’s critical to say no to things that will take your time away from what you should be doing. Tom mentions that part of Gini’s process is to try to disqualify every prospect. She comments that looking for reasons to disqualify a prospect, and finding them, makes it easier to say no to them. She shares tips on what red flags might look like from the employee and client perspective.

    Resources
    SpinSucks.com
    How to Spot Red Flags In New Business Relationships
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    • 10 min
    Reimagining Data Privacy with Ray Pathak

    Reimagining Data Privacy with Ray Pathak

    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 you would have to start from scratch each time a new law comes out. He advocates a more proactive, take-control approach: build out a comprehensive privacy program so when a new law comes out you're just tweaking your program instead of creating a whole new one. 
    Embedding four layers of research within their tools so that information is available to clients when they need it, makes Nymity’s solution different from other solutions on the market. Ray goes on to explain how this process brings privacy intelligence to their clients, saving them valuable time. Their comprehensive framework containing 139 different technical and organizational measures, grouped into 13 categories, and mounted to over 900 local and international laws allows clients using the framework to build out their data privacy program to comply with many laws.
    Future Trends
    Tom asks Ray to comment on the top issues in data privacy for 2020 and beyond. Ray responds that the first issue is the impact laws like CCPA will have. More states are coming out with privacy laws, likely to be more comprehensive than CCPA, he predicts. The second issue he talks about is making data privacy easier for people. Privacy is becoming more complex, but their privacy intelligence tool makes it more accessible for clients. Thirdly, he says that by combining technology with research, his company is helping to provide insights to organizations with their solution.

    Resources
    Nymity.com
    TrustArc.com
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    • 18 min
    Putting Compliance In Your Hands with Garin Bergman

    Putting Compliance In Your Hands with Garin Bergman

    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 analyze metrics that are important to the company. Another innovative feature is the gift registry module. Garin explains that this allows individuals to submit gifts to be reviewed and approved by their supervisor. The supervisor is notified of the request and, using the information available in the app, makes an informed decision whether to allow the gift. The request is approved or declined right within the app, and the employee is notified. Additionally, robust back end analytics can provide reports on the types of gifts that have been given over the past two years.

    Solving A Compliance Problem
    Tom comments that an often overlooked reason why adoption of new technology is slow in the compliance industry is that it requires lawyers, who comprise the majority of the industry, to deviate from the static policies, procedures and delivery of training they’re accustomed to using.
    People also assume that having a solution like Palmtree will be very expensive, Garin says. However, the cost is quite reasonable and it can be deployed in as few as 45 to 60 days. Tom adds that it also allows you to comply with the Department of Justice’s requirements for ongoing improvement of your compliance program.

    Resources
    GetPalmtree.com
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    • 21 min
    The Human Element of Compliance with Gio Gallo

    The Human Element of Compliance with Gio Gallo

    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 interaction, so there’s no way you can automate everything. In addition, where there are issues that involve people, you need people to find information, and to plan and execute the appropriate fixes. As more repetitive tasks become automated, the human element is going to become more important, Gio predicts.

    Hotlines and Empathy
    The human element of compliance is especially relevant in hotlines. People expect that human-caused problems with human-required solutions have human-considered interactions, Gio says. People calling in to report a problem need to feel heard and that their issue is being considered by someone who will do something about it. Tom commends Gio on a ComplianceLine blog post entitled, I Hope Things Get Better for You: The Importance Of Empathy In Compliance Reporting. Gio responds that empathy drives effectiveness. It’s also the way to show care and respect for others. Anyone calling your hotline should feel cared for and listened to. When you engage with them in a caring way, you understand where they're coming from and you get better information. You can now follow up and close issues faster, and ultimately take care of damaging risks more quickly.

    Resources
    ComplianceLine.com
    ComplianceLine on YouTube | LinkedIn | Facebook | Twitter | Instagram
    ComplianceLive podcast
    ggallo@complianceline.com 
    Blog post: I Hope Things Get Better for You
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    • 22 min
    How ESG Helps Companies See In The Dark with Trysha Daskam

    How ESG Helps Companies See In The Dark with Trysha Daskam

    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 enumerates your ESG procedures;

    Train the investment personnel who will be responsible for the policy;

    Entrench the policy in the company culture through communication.


    How ESG Helps You See In The Dark
    ESG is increasingly becoming a matter of corporate citizenship, Trysha says. It is a way for a firm to establish how it is acting responsibly towards its clients, employees and community at large. In addition, investors want to see that the ESG policies on paper are actually being implemented, that protective mechanisms were put in place to guard against considered risks. ESG should put a firm in a place where they are less surprised by things that happen, Trysha remarks; it’s another tool to help them see in the dark. Tom comments that it’s a framework to be able to not only analyze questions and manage risks, but also to give answers to multiple stakeholders.

    ESG for Investment Firms
    Tom asks where an investment firm should start if they want to evaluate their portfolio or potential acquisitions from an ESG perspective. Trysha responds with some questions they should ask:

    What do you deem to be a material ESG risk for the business that you are evaluating?

    From that list, are there any underlying sub factors that can be measured?


    Resources
    SilverRegulatoryAssociates.com
    Episode 108 with Fizza Khan
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    • 18 min
    Getting Employees to Pay Attention with Peter Grossman

    Getting Employees to Pay Attention with Peter Grossman

    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 employees are the least engaged. That’s not the time to try to shove information down people’s throats, Peter argues. Training should be something that makes a difference, that changes behavior. As such, it should be something people want to do, not just have to do. You need to attach creative and innovative ideas to what you're trying to convey to grab people’s attention and make it memorable. Essentially, your training should be about engaging your workers year round in a culture change. 

    Memorable Storytelling
    Whenever you roll out a training, it should feel like a cool office party, Peter says. The goal is to have people talking about it afterwards by attaching your policies to storytelling. Tom asks him how he applied this strategy at AB InBev. Peter shares the attention-grabbing narrative they developed for AB InBev’s compliance training program. It was so memorable and relatable that it became a company inside joke. What’s most important, he says, is that workers now remember what to do in certain moments because of that training. “The idea is that when you create characters that resonates with everybody, that’s what sparks the behavior change and gets people remembering it throughout the year,” Peter comments. He advocates bringing storytelling to everything - from broad topics to the most nuanced - because people will remember it.

    A New Podcast
    Tom mentions that Peter will be joining the Compliance Podcast Network with his new podcast. He asks him to give listeners a preview of what is to come. Peter says the name of the podcast is In The Lab. It’s going to be a very loose, conversational show. He will bring his storytelling background to the show as the format will be about talking to people and hearing their stories. 

    Resources
    LabyrinthTraining.com 
    peter@gadfly.io 
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    • 20 min

Customer Reviews

Michael Volkov ,

Innovation and Compliance

Tom Fox’s podcast, like his others in the compliance network, is insightful and invaluable. Tom is a leader in the compliance profession and I follow this podcast and others to keep up with the industry.

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