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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Aly McDevitt2021-05-19T13:00:00
Volkswagen Board Member Hiltrud Werner and Chief Coordinator Dr. Thomas Meiers gathered a cross-functional team of 80 people from first, second, and third lines of defense areas: engineering, environmental management, procurement, sales, and finance (first line); risk, compliance, quality management, and human resources (second); and internal audit (third). It wasn’t about projecting a certain strength in numbers. It was about providing the monitor team with all the resources they could ever need. In particular, Volkswagen wanted to connect the monitor team with people who had the relevant information “at their fingertips,” explained Werner.
“With a monitorship, you’re always working with one resource that is limited, which is time,” said Meiers. “It was not only limited to the company but also to the monitor, because there were milestones the monitor wanted to reach in his respective [monitor/auditor] reports.”
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News and analysis for the well-informed compliance or audit exec. Select an option and click continue.
Annual Membership $499 Value offer
Full price one year membership with auto-renewal.
Membership $599
One-year only, no auto-renewal.
2024-12-20T17:39:00Z By Aaron Nicodemus
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.
2024-12-20T16:47:00Z By Neil Hodge
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.
2024-12-20T13:46:00Z By CW Staff
National Philanthropic Trust announced the appointment of Tamara Watts, vice president, legal and general counsel for The Susan Thompson Buffett Foundation, to its board of trustees.
2024-03-21T16:00:00Z By Aly McDevitt
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.
2024-03-20T16:00:00Z By Aly McDevitt
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.
2024-03-19T16:00:00Z By Aly McDevitt
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.
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