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News Article
Third-Party Anti-Corruption Management: Unmasking Risks
Carole Switzer | March 25, 2014
One of the more difficult tasks in managing the corruption risks that come with doing business with third parties is identifying those parties' true beneficial ownership. In our latest installment of the GRC Illustrated Series, we look at how to design a set of processes and controls to get a continuous view of the owners and other risks associated with third parties.
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News Article
A Code-of-Conduct Conundrum
Carole Switzer | December 31, 2013
Sure, you have a code of conduct, but chances are it was written from a legal perspective, is rarely updated, and is mostly ignored by employees. Inside, we look at how at how to develop an "integrated" code of conduct—one that is more interactive and delivered through modern communication methods that allow employees and others to engage, interact, and research further into related policies and guidance.
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News Article
When Training Is All a Game
Carole Switzer | November 26, 2013
With the advent of online e-learning and a workforce more familiar with video gaming and role playing, research is demonstrating the value of adding a gaming aspect to compliance training. Well-designed games encourage engagement, which is the key to reinforcement. In the latest installment of our GRC Illustrated Series, we look at how companies can use gaming in effective compliance and risk training programs.
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News Article
The Federated GRC Approach
Michael Rasmussen | October 29, 2013
Exponential growth and changes in risk, the regulatory landscape, technology, and Big Data are affecting organizations of all sizes. Keeping complexity and change in sync is a significant challenge for boards of directors and compliance executives. In the latest installment of our GRC Illustrated Series, we look at how companies can implement an integrated approach to business systems, data, and GRC processes.
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News Article
Measuring a Company’s Integrity
Michael Rasmussen | September 24, 2013
Compliance and ethics is in the midst of transforming from a fragmented and distributed set of processes to a more centralized function focused on principled performance that relies heavily on promoting integrity. In the latest installment of our GRC Illustrated Series, we look at how companies monitor and measure the integrity of the organization with the goal of developing a more dynamic, effective compliance function.
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News Article
Retuning the Compliance Plan
Carole Switzer | August 27, 2013
Despite spending larger sums on compliance, most companies still have lots of high risks for non-compliance, self-created complexity, and wasted resources. In the latest installment of our GRC Illustrated Series, we look at how to fix a discordant approach to the management of compliance obligations and how to bring harmony to its many moving parts.
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News Article
Getting to Know You: The Fine Art of Customer Risk-Assessment
Carole Switzer | April 30, 2013
Developing an effective customer risk-assessment program requires banks and other companies to get to know every aspect of their customers. These programs call for gradually intensifying levels of due diligence that are designed to produce an accurate portrait of the customer. In the latest installment of our GRC Illustrated Series, we look at how to know your customer.
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News Article
The Complex Mechanics of Anti-Money Laundering Programs
Carole Switzer | February 26, 2013
Enforcement actions against money laundering have come back in a big way, snaring such banks as Wachovia and HSBC. The complexity and fluid nature of money laundering requires companies to implement and maintain an anti-money laundering capability that operates as a finely tuned, powerful, and efficient engine. In the latest installment of our GRC Illustrated series, we look at just what that entails.
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News Article
IT Systems to Make Policy Management Worth the Effort
Michael Rasmussen | October 30, 2012
Document-centric approaches to policies—that lack technology to manage communication and enforcement—are a recipe for disaster, and could actually cost companies more, since they expose them to ineffective policy management. In the latest installment of our GRC Illustrated series, we look at how IT systems can be put to work for policy management, so the compliance team can, you know, actually enforce things.
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News Article
Policy Communication and Training in a YouTube World
Michael Rasmussen | September 25, 2012
Written policies are essential, but they are only effective if individuals are aware of them and understand what is expected. In the latest installment of our GRC Illustrated series we look at the evolution of policy management and how technology is changing the way companies communicate their policies and measure the effectiveness of that effort.
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News Article
Accountability & Consistency in Policy Development, Governance
Michael Rasmussen | August 28, 2012
Many companies lack a structured means of policy development and governance. Instead, they create policies with a patchwork of templates and processes. The latest installment of our GRC Illustrated series offers insights on instituting a consistent policy development process and empowering a committee to oversee it, which can reduce non-compliance risks and improve the company's culture.
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News Article
Building Regulatory Intelligence
Michael Rasmussen | July 31, 2012
Effective policy management starts with monitoring changes to the business, regulatory, and risk environments to determine how change impacts current and needed policies. The latest installment of our GRC Illustrated series offers insights on how best to track these changes so they can be analyzed in light of policy needs.
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News Article
Why Do Policies Matter?
Michael Rasmussen | June 26, 2012
From time to time people still ask why policies matter: Aren't policies just more unnecessary bureaucracy, they ask? But good policies define the organization's governance culture and objectives. Without the guidance provided by well-written policies, corporate culture may morph and take the organization down unintended paths. The latest installment of our GRC Illustrated series offers insights on effective policy management.
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News Article
Using Data Analytics in the Fight for Anti-Bribery Compliance
Carole Switzer | May 30, 2012
Anti-corruption compliance efforts are never easy, but some companies are making them more effective with statistical techniques that comb through massive amounts of data and sniff out unusual patterns. Corruption analytics are the latest tools in the hunt for questionable transactions and compliance risks buried deep within information systems. Details inside.
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News Article
Enterprise GRC Systems: Some Assembly Required
Todd Neff | May 1, 2012
After years of industry consolidation, integrated enterprise governance, risk, and compliance systems are ready for prime time. The systems can produce sophisticated risk analytics, real-time reports, and alerts on control failures. To take advantage of these GRC system features, however, internal processes must be thoroughly understood and cataloged. Details inside.
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News Article
Corruption Investigations: Finding a Needle in the Haystack
Carole Switzer | April 24, 2012
Every organization should have a strong anti-corruption program that includes detection systems and processes and a response plan to assess, investigate, and resolve issues. Inside, the latest installment of our GRC Illustrated series outlines the major steps for implementing and refining a corruption investigation process.
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News Article
Boost Your Corruption Risk IQ
Carole Switzer | March 27, 2012
Merger and acquisition activity is on the rise in high-corruption risk countries, but far too many companies conduct insufficient corruption due diligence, even while regulatory scrutiny of the area has increased. Inside, the latest installment of our GRC Illustrated series outlines the major steps for evaluating corruption risks in acquisitions.
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News Article
A Holistic Approach to Detecting Corruption and Its Root Causes
Carole Switzer | March 6, 2012
Companies with the most sophisticated anti-corruption capabilities do more than resolve the issue and identify its direct cause; they also periodically examine their entire portfolio of corruption issues to better understand how those issues all interact. Inside, the latest installment of our GRC Illustrated series offers insights on the challenges of corruption issue management.
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News Article
Third-Party Corruption Risk: What Every CCO Should Know
Carole Switzer | January 31, 2012
Want to know one of the surest ways to strengthen your organization's anti-corruption capabilities? Start by discovering what you do not understand about the third parties that help you do business abroad. In the latest installment of our GRC Illustrated series, we offer some insights on how to get started on assessing third-party corruption risk.
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News Article
How Anti-Corruption Programs Enable Better Business Agility
Carole Switzer | December 20, 2011
One of the most frequently asked questions about managing corruption risk demonstrates the compliance profession's passion for benchmarking: "What do companies with the best anti-corruption programs do differently?" The answer is less about process or technology, at least not directly, than it is about philosophy and vision. Inside, our GRC Illustrated series returns with this look at anti-corruption programs.
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