Posts

Compliance Expertise Needed on the Board

Thomas Fox – JD Supra – December 22, 2016

This week I have been exploring the different types compliance committee’s which an organization can utilize to help effect a best practices compliance program. I have written about compliance committee’s at the Board of Director’s level; at the junction between the Chief Compliance Officer (CCO) and Board, the Oversight Committee; and at the business unit level and the Baker Hughes Inc. (BHI) GeoMarket Compliance Committee. Today I want to change this focus from the committee concept and structure to a role on the Compliance Committee at the Board of Directors level.

Every Board of Directors need a true compliance expert sitting on their Board. Almost every Board has a former Chief Financial Officer (CFO), former head of Internal Audit or persons with a similar background and often times these are also the Audit Committee members of the Board. Such a background brings a level of sophistication, training and subject matter expertise that can help all companies with their financial reporting and other finance based issues. So why is there not such subject matter expertise at the Board level from the compliance profession?

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Read this article on JD Supra.

A Trip to the Dentist for Some Compliance Insight

Thomas Fox – JD Supra – August 10, 2016

I had to go to the dentist yesterday. I went for what I thought was filling repair but I had somehow forgotten that it was a wisdom tooth removal and a filling repair. I know you are thinking either (1) why does someone his age still have wisdom teeth and (2) how could he ‘forget’ he was having said wisdom tooth removed? All I can do is channel my inner-Laura Petrolino and say as improbable as it sounds, both can and do occur, at least with me.

While I was letting the anesthesia kick in for the wisdom tooth removal, my dentist, Dr. Shan Batiste, was talking non-stop to the newly hired dental tech. Since I was both under anesthesia or had dental tools in my mouth, I could not stop to ask any follow up questions and simply listened to their dialogue. I am not sure if it was his first day or just the first time that he had worked with my dentist but she was imparting to him what it was in his interview that led her to offer the position to him. Rather amazingly, I found my dentist had some very interesting insights about the compliance function.

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Read this article on JD Supra.