- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Martin Woods2020-07-30T17:36:00
Now is the time to market compliance practices to customers who wear masks within our premises but drop the masks—and their guards—when answering calls and emails from the privacy of their own homes, writes Martin Woods.
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Now more than ever, difficult conversations are necessary and increasingly expected of compliance professionals. Financial crime expert Martin Woods has some ideas on how to make them less painful.
In order to prevent debacles like the one Deutsche Bank is embroiled in, there is a need to combine the processes of “know your employee” and “know your customer,” writes Martin Woods.
Three federal banking regulators issued guidance on the risks posed by the use of third-party financial technology firms to deliver bank deposit products and services to customers.
Top-of-mind issues addressed at Compliance Week’s Third-Party Risk Management & Oversight Summit, held June 3-4 in Atlanta, included safe deployment of artificial intelligence, assessing vendor viability and sustainability, understanding the role of procurement in risk ranking, the intersection (or lack thereof) between data privacy and cybersecurity, and many others.
Anne Morriss, co-author of “Move Fast and Fix Things,” advises compliance officers to tap into curiosity, communicativeness, and comfort with discomfort to build organizational trust, fast.
Regulators and government agencies often speak to the value of empowered corporate compliance programs to advancing their mission. Why not practice what they preach by empowering compliance among their own ranks?
