Innovation In Compliance With Tom Fox

George Serafeim is a Professor of Business Administration at Harvard Business School and author of the book, Profits + Purpose, How Business Can Uplift The World. His contribution to the compliance space is enviable, including advising many compliance professionals. He and Tom Fox discuss his new book and explore how it benefits businesses and compliance professionals.    A Strong Sense of Purpose Tom asks George why he wrote the book, Profits + Purpose. George says that he noticed a trend that students, when he asked them why they chose to study business, often replied: “because of money”. In reality, however, most people venture into business because they have an interesting idea about a cool product they're passionate about. “Most people that go into business have a strong sense of purpose,” he tells Tom; “it is something I’ve seen in my students over time that has ended up doing incredible things.” Purpose-driven business leaders often create incredible and profitable organizations. It’s important to be p

Will Robinson is a former investment banker, who now serves as the CEO at Encapture, a 20-year-old document management services company that pivoted into a SaaS product company in 2019. Tom Fox welcomes him to this week’s show to discuss how Encapture helps its customers attain data integrity through intelligent document processing. Intelligent Document Processing Encapture is a software company with a unique process called “intelligent document processing”. Will explains that this process makes it easy for organizations of varying sizes to collect incoming documents as a part of a business process. “Encapture’s machine learning can read the document and discern what type of document it is, then the system can extract data out of these documents and utilize the data for a variety of purposes,” he says. It can transfer data to another system as well as compare data across multiple documents. “We can automate a bunch of reporting on the compliance front,” he adds.  Compliance and Intelligent Document Processi

Ty Francis is a renowned compliance leader and the Chief Advisory Officer at LRN; he leads the company’s worldwide ethics and compliance consulting, ESG, and community outreach strategy. Tom Fox welcomes him to this week’s episode of Innovation In Compliance to discuss LRN’s new report, Assessing Corporate Culture.  The Genesis of the Assessing Corporate Culture Report Tom asks Ty about the genesis of the LRN report. This is the second report LRN produced; the first one was about activating culture and ethics in the boardroom. Their previous research led the team at LRN to realize that most corporate boards did not understand the culture. Ty says, “Over the last 10 years, culture is so high on those lists, but when you look further into the survey and ask them what they’ve done to measure this culture, it's nonexistent.” Therefore, LRN sought to discover the general opinion on culture and ethics compliance and provide a roadmap on how to activate these skills within a company.  Roadmap for Building Corporat

Tom Fox asks Stephen Shapiro what makes him so passionate about innovation. He replies, “It is the key for economic growth for companies, for individuals and society.” Twenty-five years ago, Stephen launched a successful innovation practice at Accenture that focused on value creation and growth. He left Accenture in 2001, but his ongoing work is still all about innovation. Tom Fox welcomes him to this week’s show to discuss his patented FAST innovation process.  FAST Innovation Tom asks Stephen to describe his FAST innovation approach. Processes need to be repeatable and predictable, Stephen says. FAST stands for Focus, Ask, Shift and Test. People usually think of the mass production of ideas and suggestions when they think about innovation. However, true innovation requires you to determine where to focus your limited energy and resources on what is most important. Then, ask more goal-specific questions that would enable you to deliver better solutions. Finally, test these solutions to bring them to market.

Simon Winchester is the Vice President of Advanced Technologies at Jumio Corporation. His responsibilities entail building the go-to-market strategies for newly acquired technologies within Jumio and then driving the adoption on a global scale. One of the company’s most recent additions is its AML (anti-money laundering) solutions. Tom Fox welcomes him to this week’s show to talk about current world events and the company’s AML solution.  Money Laundering in 2022 Tom asks Simon if money laundering schemes have become more ubiquitous since the Russian invasion of Ukraine. Simon replies that the recent events certainly had an impact. He says that money laundering is “criminals taking illicitly-gained funds and then turning them into legitimate cash or assets which are ideally free of suspicion.” At the core of this criminal process are three themes: placement, layering, and integration. Due to the digital environment we live in today, more people from all demographics are comfortable with digital banking, and

Accenture provides top-notch services in strategy & consulting, and operations for its clients. Samantha Regan is Managing Director and Global Lead for the Regulatory Remediation & Compliance Transformation group within Accenture’s Finance & Risk practice. Tom Fox welcomes her to this week’s show to talk about the Accenture Compliance Risk Study Report.  Accenture’s Compliance Risk Study Tom asks Samantha about the origin of the report. Samantha responds that each year, the team at Accenture gets together to observe and record what’s happening in the world of compliance. They seek to discover the key issues and concerns for compliance officers across various organizations. Developing a framework, conducting a survey and collating the data are the next steps. This is followed by “synthesizing those results and looking for the insights from the information that’s been provided and then developing the report off the back of that,” Samantha tells Tom.  Primary Compliance Risks In 2022  Tom asks Samantha to disc

Erica Salmon Byrne is the President of Ethisphere and Chair of the Business Ethics Leadership Alliance. Ethisphere is a company that believes that companies that focus on building a sustainable business will outperform their peers that do not. Tom Fox welcomes her to this week’s show to talk about Ethisphere’s innovative new service called The Sphere.  What is The Sphere? Tom asks Erica to describe The Sphere and why she is so excited about the launch. For more than 15 years, Ethisphere has been collecting data on the programmatic practices of the world’s most ethical companies through their questionnaire, called the Ethics Quotient, Erica explains. They realized a demand for solid benchmarking within the compliance space, and decided to democratize their data access. This was the birth of The Sphere – a subscription-based service that allows you to select the topic you are interested in getting data on and gain access to a multitude of resources.  Peer Data: A Powerful Tool Tom asks Erica what makes peer d

Dr. Gleb Tsipursky is the thought leader and CEO of Disaster Avoidance Experts, a boutique future-of-work consultancy that helps tech and insurance executives drive collaboration, innovation, and retention in hybrid work. Currently, he is focusing on normalizing hybrid and remote work, which he further discusses in his book, Leading Hybrid and Remote Teams. Tom Fox welcomes him to this week’s show to talk about Elon Musk’s misinformed views on remote work and why working from home is better for productivity levels.  Remote Work v. Working From the Office Tom asks Dr. Gleb what drove him to write the article entitled, Elon Musk’s back-to-the-office order will undermine Tesla’s future. It was his response to Musk’s announcement to abolish remote work on the grounds that it made his employees unproductive, Dr. Gleb tells Tom. He has been researching hybrid remote work since the beginning of the pandemic, and found that remote workers are much more productive. A study at Stanford determined that productivity imp

Jaclyn Schiff is the founder and CEO of PodReacher, a company that helps marketing teams transform their podcast into high-quality text content to increase impact. Tom Fox welcomes her to this week’s show to talk about her professional background, B2B marketing, and how PodReacher helps its clients.  PodReacher and B2B Marketing Tom asks Jaclyn how B2B content repurposing helps communications specialists and compliance officers. Marketers want to differentiate their product or service in the marketplace, Jaclyn responds. Podcasting is a growing B2B marketing trend because business leaders do not have time to personally create content that would captivate an audience. It became particularly popular during the pandemic as you can execute it remotely. Jaclyn states, “In any industry, a conversation is an easy way to get [your content] out there. Now taking that from the spoken word …and turning that into a good reader experience.” She explains that PodReacher turns audio into riveting content that people can us

Richard Blank is the founder, CEO, and head bilingual trainer at Costa Rica’s Call Center, a business process outsourcing (BPO) telemarketing company. They offer outbound and inbound telemarketing solutions of the highest quality. Tom Fox welcomes him to this week’s show to talk about Costa Rica’s Call Center, how they help their clients, why he opened a call center in Costa Rica, and how to lead a successful call center in a foreign country.  The Core of Costa Rica’s Call Center Tom asks Richard why he decided to open a call center in Costa Rica and how the term “Learning through the Proletariat” influenced his business model. Richard explains that as a CEO who works among people, you learn the importance of training and keeping your employees and customers. “One thing that I heard most sitting amongst people that are in a call center industry is that they feel expendable,” he tells Tom. To counteract this, he invests in his employees' careers by promoting them and teaching them English so that they have pr

Maryann Bullion is the General Counsel and Chief Compliance Officer at Bitcoin IRA, the first 24/7 retirement solution that allows customers to invest in cryptocurrencies within their IRAs. At Bitcoin IRA, Maryann and her team handle a wide range of complex legal issues and run a comprehensive compliance program. Tom Fox welcomes her to this week’s episode to talk about Bitcoin IRA, how it helps its clients, and how her professional background prepared her for her current position.  Maryann’s Unique Professional Background  Fulfilling a childhood dream, Maryann joined the US Army in 2009, serving in the Judge Advocates General’s Corps (JAG Corps). She was a reservist in the military and worked full-time at the Federal Deposit Insurance Corporation (FDIC). Tom asks her how her stint in the army influenced her career. She highlights one of her favorite training activities where they would run an obstacle course with their weapons and stop periodically to answer legal questions. “It sounds kind of funny but in

Welcome to a special five-part podcast series on the New Traliant, sponsored by Traliant. Over this series, we will discuss what is new at the company and key issues that Traliant is helping to lead and define the online training industry in going forward. Over this five part series I will visit with John Arendes, Chief Executive Officer (CEO) at the company on what is new at New Traliant and what the Department of Justice (DOJ) has communicated to the compliance community regarding its expectations around online training and communications; Maggie Smith, Vice President of Human Resources at Traliant on the role of DEI in your corporate ESG program; and Scott Schneider, Head of Content Development at Traliant on your Code of Conduct and anti-corruption training. In this concluding Episode 5, I visit with Scott Schneider, VP of Innovation at Traliant, on the evolution anti-bribery/anti-corruption training. Why is bribery and corruption a tricky subject to train on? When is training effective? Assuming the m

Welcome to a special five-part podcast series on the New Traliant, sponsored by Traliant. Over this series, we will discuss what is new at the company and key issues that Traliant is helping to lead and define the online training industry going forward. Over this five-part series, I will visit with John Arendes, Chief Executive Officer (CEO) at the company, on what is new at New Traliant and what the Department of Justice (DOJ) has communicated to the compliance community regarding its expectations around online training and communications; Maggie Smith, Vice President of Human Resources at Traliant on the role of DEI in your corporate ESG program; and Scott Schneider, Head of Content Development at Traliant on your Code of Conduct and anti-corruption training. In this Episode 4, I visit with Scott Schneider, Head of Content Development at Traliant, on the evolution and importance of the corporate Code of Conduct. Highlights include: Culture is the key driver, and your Code of Conduct is the foundation for a

Welcome to a special five-part podcast series on the New Traliant, sponsored by Traliant. Over this series, we will discuss what is new at the company and key issues that Traliant is helping to lead and define the online training industry in going forward. Over this five part series I will visit with John Arendes, CEO at the company on what is new at New Traliant and what the DOJ has communicated to the compliance community regarding its expectations around online training and communications; Maggie Smith, Vice President of Human Resources at Traliant on the role of DEI in your corporate ESG program; and Scott Schneider, Head of Content Development at Traliant on your Code of Conduct and anti-corruption training. In this Episode 3, I visit with Maggie Smith, VP for Human Resources at Traliant and we discuss the intersection of diversity equity inclusion and compliance. Highlights include: DEI is much more than anti-discrimination/anti-harassment How do you bring in inclusion to an organization and why is it

Welcome to a special five-part podcast series on the New Traliant, sponsored by Traliant. Over this series, we will discuss what is new at the company and key issues that Traliant is helping to lead and define the online training industry in going forward. Over this five part series I will visit with John Arendes, Chief Executive Officer (CEO) at the company on what is new at New Traliant and what the Department of Justice (DOJ) has communicated to the compliance community regarding its expectations around online training and communications; Maggie Smith, Vice President of Human Resources at Traliant on the role of DEI in your corporate ESG program; and Scott Schneider, Head of Content Development at Traliant on your Code of Conduct and anti-corruption training. In this Episode 2, I visit with John Arendes on DOJ communications around its expectations for training. Highlights include: In DAG Lisa Monaco's October 2021 speech, she said the DOJ would focus on corporate culture as a key indicia of compliance. 

Eva Pittas is the co-founder and COO of Laika, a company that helps other companies manage compliance, obtain security certifications, and build trust with enterprise customers. Tom Fox welcomes her to this week’s show to talk about Laika and how it helps its clients. The Birth of Laika Eva began her professional life running IT risk and control for Citigroup and even worked there after the financial crisis of 2008. She was an integral part of the strong response to counteract the economic collapse. She joined the fintech industry in 2014, as she saw the growth happening in that space. She noticed that many companies “needed to get through with vendor procurement but they did not know what those processes would look like, what diligence would be, or what the security requirements were.” She started her consultancy boutique, BRCG, to provide answers to these questions. Working in the fintech space emphasized the importance of audits. Laika was born as a compliance solution for the rise of the cloud and to add

Welcome to a special five-part podcast series on the New Traliant, sponsored by Traliant. Over this series, we will discuss what is new at the company and key issues that Traliant is helping to lead and define the online training industry in going forward. Over this five part series I will visit with John Arendes, Chief Executive Officer (CEO) at the company on what is new at Traliant. Some of the topics we consider are: What’s new about Traliant? Why is the New Traliant so significant now? How has Traliant built upon prior strengths to great truly superior online training? Resources Traliant Website John Arendes on LinkedIn

Brad Hibbert is the Chief Strategy Officer and Chief Operations Officer at Prevalent Inc., a company specializing in eliminating security and compliance exposures tied to third-party vendors and suppliers. Tom Fox welcomes Brad back to this week’s show to explore and discuss a study Prevalent recently released entitled, “The 2022 Third-Party Risk Management Industry Study”.  Third-Party Risk Management Industry Survey  Brad reveals that Prevalent Inc. has been working on the “Third-Party Risk Management Survey” for approximately three years. To gather data on the subject, they send the survey to thousands of professionals who are focused on third-party risk management, and who also have a background in security. When the results come in they are categorized, analyzed, and observed for any trends. Tom asks Brad what was the overall assessment of third-party risk management he determined from the survey. “I think third-party risk management is certainly getting more awareness within companies and within execut

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