- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Aaron Nicodemus2020-05-05T16:40:00
Compliance and ethics fails during the coronavirus pandemic have done more than hurt companies’ images. They’ve cost lives.
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E-commerce giant Amazon has shut up shop in France because the cost of compliance with the country’s COVID-19 emergency measures is deemed to be too high.
A House committee is demanding that large public companies that accepted Paycheck Protection Program loans meant for small businesses return them immediately.
As financial hardships caused by the coronavirus pandemic take their toll, some forward-thinking companies have made changes to the benefit of suppliers, serving as leaders for others in their industry.
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?
