Search results for: policies and procedures
Talking AI and ‘Model Risk’
Today we have a heads up for all you compliance officers in the financial services sector: Radical Compliance and Forensic Risk Alliance will be hosting a webinar on Jan. 29 exploring the risks of artificial intelligence, and the new governance and risk management methods you’ll need to develop to keep those AI risks in check.…
Read MoreAdvice on AI Policies, Procedures
Today we return to artificial intelligence, with a look at the policies and procedures companies could use to govern the use of AI. State financial regulators in New York recently proposed guidance for AI in the insurance sector which goes into detail about policies and procedures — so let’s see what might be useful for…
Read MoreDFS Adopts Fitness and Character Guidance
Financial regulators in New York have introduced new guidance on the character and moral fitness they expect to see for senior executives at banks and other financial firms working in the state — a big step forward in the quest to be sure that corporate executives are, ya know, ethical and stuff. The New York…
Read MoreFresh Thoughts on AI and Compliance
A few weeks ago I had the privilege of moderating (yet another) webinar on artificial intelligence and its implications for corporate compliance functions. The discussion was excellent, and as usual I took lots of notes. For all you AI aficionados out there who missed it, I’ve recapped some of the best insights below. First, one…
Read MoreLessons on Policies & Procedures
A subsidiary of Deutsche Bank is serving up a double feature of compliance gone wrong this week, paying $25 million to settle charges with the Securities and Exchange Commission that the firm both made misleading disclosures about ESG investments and allowed an ineffective anti-money laundering program to linger for years. The SEC announced the settlement…
Read MoreGreat Example of Ethics, Compliance, and AI
Anyone looking for another example of how artificial intelligence is going to raise a host of ethics and compliance issues for corporations, look no further than today’s New York Times and an article about how British retailers are using facial recognition to crack down on shoplifters. The full article is well worth your time if…
Read MoreMore Thoughts on Policies
Today I want to return to that study we discussed last week, questioning whether corporate policies make much difference to encourage employees’ compliance behavior. There is still a lot to discuss from that study, and compliance professionals’ reaction to it, in the pursuit of good insights about policy management and employee training. For those who…
Read MoreAnother Sports Scandal: Hockey Canada
I spent most of last week on vacation in Canada, trying to put aside the clamor of ethics and compliance news for a while. Well, even amid the gorgeous architecture of Montreal and the boring expanses of the 401 highway, ethics and compliance news caught up with us anyway. The news in question was the…
Read More‘Reasonable Design’ and CCO Certifications
Today I want to revisit the Justice Department’s plans to have chief compliance officers certify the effectiveness of their compliance programs, to unpack a question that’s been bothering me. When the department says it wants certification that your program is reasonably designed to prevent future violations, what does “reasonable” actually mean? Readers of Radical Compliance…
Read MoreThoughts on Training and CCO Certifications
So there I was the other day, talking with a compliance officer who helps with training at a large global corporation. We were chatting about a fairly common question in the field: should companies allow people to test out of compliance training if they already know the subject matter? That’s a complicated question unto itself,…
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