- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Aly McDevitt2021-05-18T13:00:00
Dieselgate monitor Larry Thompson’s counterpart on the Volkswagen side was Hiltrud Werner, a woman who by all accounts could go toe-to-toe with Thompson in intelligence, leadership ability, and strength of character—not that the two were pitted against each other. Quite the opposite. Werner and Thompson worked together beautifully.
“As a boss, she’s inspiring,” said Stephanie Davis, whom Werner hired as Volkswagen Group of America’s first CECO in 2017. “Tough but fair. I would never want to go into a meeting unprepared with Hiltrud Werner. She knows everything about the subject she’s asking you about.”
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Hiltrud Werner, Volkswagen’s board member and head of integrity and legal affairs who steered the company through its U.S. compliance monitorship post-Dieselgate, discusses her indelible mark on the auto giant and her future aspirations.
USAA Federal Savings Bank has been hit with its third cease and desist order from the Treasury Department’s Office of the Comptroller of the Currency in the past five years for failing to correct unsafe and unsound banking practices.
Any product that uses AI needs to be safety assessed for its entire lifespan under new rules that went into effect recently across the EU. Experts warned companies using AI to tailor products could be classed as “manufacturers” and face the same duty of care as developed.
Both JPMorgan Chase and Deutsche Bank retained their respective Jeffrey Epstein relationships for too long. Yet, there is a case to be made for why exiting a high-risk relationship too soon can become an inverse form of recklessness.
Why did JPMorgan Chase retain Jeffrey Epstein for more than a dozen years? How did the relationship persist despite glaring red flags? The “why” is straightforward; the “how” is more complicated.
Jeffrey Epstein’s designation as a high-risk client should have subjected him to enhanced due diligence that never appeared to occur, most notably at Deutsche Bank. Instead, Epstein was allowed to continue his misconduct despite numerous red flags.
