- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
Counteracting bias is part of the compliance officer job description, and now more than ever is it important for that duty to extend to new business technologies being implemented.
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Real cultural change requires an understanding of the drivers of human behavior. And the most effective means of grasping these drivers is through behavioral science.
Working in compliance requires a mix of risk management, business strategy understanding, regulatory analysis, and interpersonal influence. Also important is overcoming one’s own internal roadblocks to doing the right thing.
Rapid developments in technology and an uncertain future underscore the need for compliance professionals to embrace curiosity both personally and professionally in order to protect their firms from risk.
Companies spend huge sums on audit, risk management, and compliance to alert them about potential legal issues before they escalate into serious corporate governance failings. There’s only one problem, however–they often misread their own early warning signs or ignore them altogether.
Company training has always been equal parts important and annoying. But a recent inquest found some eLearning courses fail to warn companies when employees struggle through education and testing. For 13-year-old Hannah Jacobs, the consequences ended with her death.
Norfolk Southern Corp., the railroad still cleaning up the environmental and financial damages caused when one of its trains derailed in a small Ohio town, has fired its top executive and chief legal officer after concluding they had an affair that violated company policies.
