How ‘Fairness’ Helps Compliance
Radical Compliance
by Matt Kelly
1d ago
Compliance officers struggle mightily to articulate the right balance between what’s ethical and what’s legal. So when one of the country’s top banking regulators gave a speech earlier this week titled “Fairness and effective compliance management,” it caught my eye. The regulator in question is Michael Hsu, acting head of the Office of the Comptroller… The post How ‘Fairness’ Helps Compliance appeared first on Radical Compliance ..read more
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Study: Internal Reporting Gets Busier
Radical Compliance
by Matt Kelly
2d ago
Some red meat for all you whistleblower hotline managers! Navex just released its annual benchmarking report on internal reporting, with some fascinating findings about the volume of internal reports, the substantiation rates for internal reports, how often outsiders use your internal hotline, and much more.  Navex released the report Tuesday morning, and given the sheer… The post Study: Internal Reporting Gets Busier appeared first on Radical Compliance ..read more
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Another Way of Looking at AI Risk
Radical Compliance
by Matt Kelly
2d ago
Today we return to artificial intelligence, since these days compliance officers need all the good advice they can get on the subject. The New York City Bar Association recently published a paper on how AI might help with anti-money laundering compliance, and along the way raised several issues about AI that every compliance officer should… The post Another Way of Looking at AI Risk appeared first on Radical Compliance ..read more
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Compliance Jobs Report: March 22
Radical Compliance
by Matt Kelly
6d ago
Another big Compliance Jobs Report this week. We have CCO hires at Norfolk Southern, Kindbody, and Treehouse Foods; and lots of other personnel moves too. A new whistleblower law firm just opened; we have job leads in renewable energy, technology, and chickens; and Meme of the Week goes out to overstretched budgets. Always remember that… The post Compliance Jobs Report: March 22 appeared first on Radical Compliance ..read more
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Survey: CCO Resources, Pressures Both Rising
Radical Compliance
by Matt Kelly
6d ago
KPMG has published a new survey of chief compliance officers with plenty of findings that the compliance community should find interesting. The good news is that most CCOs expect budgets and headcounts to rise in the coming year; the bad is that CCOs also expect more pressure for better compliance program performance from numerous directions. … The post Survey: CCO Resources, Pressures Both Rising appeared first on Radical Compliance ..read more
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US Bank Dinged on Messaging Fails
Radical Compliance
by Matt Kelly
1w ago
US Bank is the latest financial firm sanctioned for employees’ use of off-channel messaging apps, fined $6 million on Tuesday by the Commodities Futures Trading Commission. At this point these cases are hardly news any more, but the US Bank enforcement does have a few twists that warrant a compliance officer’s attention. First, as outlined… The post US Bank Dinged on Messaging Fails appeared first on Radical Compliance ..read more
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SEC Launches ‘AI Washing’ Enforcement
Radical Compliance
by Matt Kelly
1w ago
The Securities and Exchange Commission sanctioned two investment firms Monday for making false statements about how they use artificial intelligence in their business operations — the first enforcement actions we’ve seen under a crackdown on “AI washing” that SEC officials had been promising for several weeks.  The two firms are Global Predictions Inc., an investment… The post SEC Launches ‘AI Washing’ Enforcement appeared first on Radical Compliance ..read more
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Yes, Automating ICFR Helps, But… 
Radical Compliance
by Matt Kelly
1w ago
Internal audit and GRC professionals talk all the time about the importance of automating internal controls. Now we have some fresh academic research demonstrating what sort of benefit a company can gain from following that path. The research comes from Musaib Ashraf, an accounting professor at Michigan State University who published a nifty paper several… The post Yes, Automating ICFR Helps, But…  appeared first on Radical Compliance ..read more
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A Convergence of Risk Disclosure
Radical Compliance
by Matt Kelly
2w ago
Like many other people, last week I read the SEC’s new requirements for disclosure of climate change risks with a sense of trepidation. The more I studied them, however, the more I felt something else: a sense of déjà vu.  Like, has anybody else noticed how similar these disclosure requirements are to those that the… The post A Convergence of Risk Disclosure appeared first on Radical Compliance ..read more
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Justice Department Eyes AI Risks
Radical Compliance
by Matt Kelly
2w ago
Last week the Justice Department announced that it will cast a more critical eye at abuses of artificial intelligence. Today let’s unpack what that news means for compliance officers in practice, and how you might need to adjust your compliance program to accommodate this brave new AI world. The pledge about increased scrutiny of AI… The post Justice Department Eyes AI Risks appeared first on Radical Compliance ..read more
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