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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Aaron Nicodemus2024-04-11T20:38:00
The key to promoting a strong risk culture within your organization is to tie risk to strategy, which engages the board and C-suite.
Follow up high-level engagement on risk management topics with effective and targeted training for all employees. Lastly, build a strong speak-up culture that encourages employees to report when things go wrong.
There is no magic wand compliance professionals can wave to accomplish these goals, panelists discussed at Compliance Week’s National Conference in Washington, D.C. Success in promoting a strong risk culture is based on trust built up over time, regular and effective communication to reinforce the message, and standing up to solve risk management deficiencies when they are pointed out by employees.
Risk management and corporate strategy should not run on parallel tracks but instead should be joined together in the minds of executives, said Joe Pugh, senior director, enterprise risk management and compliance at nonprofit interest group AARP.
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News and analysis for the well-informed compliance or audit exec.
Annual Membership best value
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Our lowest price ($1 per day) for one year.
2024-04-17T17:00:00Z By Aaron Nicodemus
The Department of Justice launched a new pilot program that encourages voluntary self-disclosure by corporate executives who are themselves involved in financial misconduct, with the incentive of a nonprosecution agreement for those who help an agency investigation.
2024-01-30T18:31:00Z By Adrianne Appel
Just 25 percent of corporate leaders felt their organizations were highly prepared to handle the governance and risk issues posed by generative artificial intelligence, a Deloitte survey found.
2023-11-15T20:20:00Z By Adrianne Appel
Taking risk mitigation further and understanding your third parties and their risks can create value for your organization, practitioners discussed as part of a panel at CW’s virtual TPRM and Oversight Summit.
2024-06-28T19:30:00Z By Jeff Dale
A Bank of England report warned of private equity risk management deficiencies as interest rates remain stagnant, with international coordination important.
2024-06-20T15:40:00Z By Aaron Nicodemus
Compliance departments at financial institutions must become more involved in ensuring their firm’s operational resiliency to address emerging risks, the Treasury Department’s Office of the Comptroller of the Currency said in its semi-annual risk perspective.
2024-06-07T22:34:00Z By Adrianne Appel
Compliance has been “sleeping on” artificial intelligence, two panelists discussed at Compliance Week’s Women in Compliance Summit. The profession should be positioned to lead on AI governance at the business level.
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