Internal Controls Come for Trump

trump

At long last, we have an internal controls and compliance angle on Donald Trump’s courtroom drama! When Trump was ordered last week to pay $355 million in damages for his civil fraud trial in New York, the judge in the case also ordered the Trump Organization to hire a director of financial compliance.  This person,…

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Compliance Jobs Report: Feb. 16

compliance jobs

The Compliance Jobs Report this week has updates from Penn State, the Nature Conservancy, Intel, Zimmer Biomet, and lots more. Our Job leads are in testing systems, healthcare tech, and Spanish-language TV, and Meme of the Week goes out to Fani Willis! Always remember that we need your help to make the Report work, so…

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Questions on Data Analytics and Fraud

fraud

The Association of Certified Fraud Examiners has just released a new benchmarking report on anti-fraud technology, with some interesting findings about fraud detection that make me wonder whether compliance folks are managing internal controls as efficiently as we might. ACFE published its 2024 Anti-Fraud Technology Benchmarking Report on Tuesday, based on a survey of nearly…

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A Curious SEC Break on Messaging Offenses

waivers

The Securities and Exchange Commission has fired off another volley of enforcement actions for employees’ improper use of messaging apps — but this time we have a new twist! The SEC has been quietly granting waivers to the offending firms to keep working on deals when normally their conduct would disqualify them from doing so.…

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Compliance Jobs Report: Feb. 9

compliance jobs

The Compliance Jobs Report this week has updates from Smithfield Foods, Sabre Corp., Binance, Wells Fargo, the CFA Institute, and a surprising amount of news about IT auditors. Job leads in higher education, rural health insurance, and “specialty compliance,” and Meme of the Week goes out to internal audit! Always remember that we need your…

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City National, Part II: Customer Due Diligence

City National

Today let’s return to that enforcement action against City National Bank, issued by federal banking regulators last week for City National’s systemic risk management shortcomings. We originally looked at the settlement order’s advice on risk assessments; next up is another common compliance challenge: customer due diligence. The recap here is that the Office of the…

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Destroy This Data After Reading It

The Federal Trade Commission has ordered a South Carolina technology company to adopt stringent new policies for deleting personal customer data, yet another reminder that keeping such data when your company no longer uses it is not something regulators want to see. The company in question is Blackbaud Inc., which sells software to nonprofits to…

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Advice on Third-Party Risk Management

third-party risk

Last week I had the good fortune to moderate a webinar on third-party risk management. We had outstanding guests who raised excellent points, and as usual, I ended up taking plenty of notes so that I could pass them along here.  Let’s begin with an appreciation of just how tricky a problem third-party risk management…

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Compliance Jobs Report: Feb. 2

compliance jobs

Another busy week for the Compliance Jobs Report. We start with two big moves in the internal audit world, plus more updates from Johnson & Johnson, McKesson, Principal Financial Group, and lots of others. Job leads this week in higher education, logistics, and video games; Meme of the Week goes out to online training.  Always…

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City National’s Lessons on Risk Assessment

City National

We have another meaty enforcement action from the banking world today, a $65 million civil penalty against City National Bank for systemic failures of corporate governance, risk management, and internal controls. The case includes a laundry list of compliance reforms the bank needs to implement, with plenty of lessons for the compliance profession as a…

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