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Defining Compliance 2.0: Key Compliance Partners (Part 5 of 5)

Michael Volkov – Corruption, Crime & Compliance – December 4, 2015

I always use the “Streetcar Named Desire” line to describe the challenges a  Chief Compliance Officer faces – CCOs depend on the kindness of strangers.  It is a little bit of an exaggeration but bear with me. CCOs are not superheroes and cannot by themselves ensure an effective ethics and compliance program.

An effective compliance program depends on a positive working relationship among the key compliance functions in a company. CCOs have to work closely with the General Counsel, the Internal Auditor, Human Resources, CFO and Comptroller, Information Technology, Security, Procurement, Senior Leadership Team, and of course, the CEO.

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Read this article on Corruption, Crime & Compliance.

Defining Compliance 2.0: Senior Leadership (Part 4 of 5)

Michael Volkov – Corruption, Crime & Compliance – December 3, 2015

Individual commitment to a group effort – that is what makes a team work, a company work, a society work, a civilization work.~ Vince Lombardi

Like so many areas in life, a successful ethics and compliance program depends on teamwork. My last two postings, Parts 4 and 5, will highlight these essential partners – senior leadership and key compliance functions.

In a company culture, teamwork is vital. There is always room for individual accomplishments and rewards but when it comes to ethics and compliance, teamwork is an essential piece. A compliance program depends on joint acceptance, activity and commitment – most importantly by business leaders in the company.

I have seen too many companies that focus primarily on the performance of the board, the CEO and the CCO, and ignore the valuable contributions that senior executives can make to an ethics and compliance program.

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Read this article on Corruption, Crime & Compliance.

Defining Compliance 2.0 — The CEO (Part 2 of 5)

Michael Volkov – Corruption, Crime & Compliance – November 30, 2015

Do the right thing. It will gratify some people and astonish the rest. – Mark Twain

We all know the obvious – a CEO’s commitment to ethics and compliance is critical to the success of a compliance program. A CEO who stands up and speaks about the company’s culture of compliance is more than a breath of fresh air – it can be the lifeblood of a compliance program.

A Chief Compliance Officer either has the support of the CEO or does not. There is no in between in this area. If you work at a company where the CEO has a signed letter in the front off your Code of Conduct and a videotaped recording of him or her talking about the importance of ethics and compliance — you do not have  a CEO committed to ethics and compliance.  A CEO who is committed to ethics and compliance has to back up his or her words with real actions – not just directions and orders, but personal actions.

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Read this article on Corruption, Crime & Compliance.