Search results for: board of directors
Boards Freaking Over Digital Risks
Protiviti has released its annual report on enterprise risks worrying the corporate boardroom, and across all 10 risks likely to occupy your time in 2019, one theme shines through — unease about corporations moving into a digital world. The report surveyed more than 800 senior executives and board directors around the world, across a host…
Read MoreHow BP’s Board Undermines Its Drive for Compliance
First let me assure you that today’s post will not be yet another column castigating BP, its board, and its CEO for runaway executive compensation. We could spend lots of time talking to that point, certainly. What happened at BP’s annual shareholder meeting last week was appalling. In 2015 BP racked up the largest loss…
Read MoreToward Better Boards, and More Diverse Boards
Well, apparently now it’s the nominating and governance committee’s turn to be hammered on the anvil of corporate governance reform. We see the evidence everywhere: a report from the Government Accountability Office noting that at current pace, women will represent half of all seats on corporate boards sometime around 2055. Calls for more women, minorities,…
Read MoreThe Board’s Role in Resilience: A Limited One
Yesterday I had the privilege to participate in a corporate governance forum in New York, talking about the board of directors’ role in building corporate resilience. Resiliency is a popular buzzword in governance circles these days, so I want to recap some of the main points here—because while I agree that the modern company absolutely…
Read MoreAnother Example of Weak Governance
Brace yourselves, ethics and compliance officers! Today we revisit another example of corporate leadership gone wrong: Vince McMahon, the long-time (and now former) CEO of World Wrestling Entertainment, accused sexual predator, and overall blowhard. McMahon agreed last week to pay $1.7 million to settle charges from the Securities and Exchange Commission that he failed to…
Read MorePodcast: State of the Compliance Community
Today we have another Radical Compliance podcast, this time to talk about the community of ethics and compliance professionals and the challenges of keeping that community engaged. To unpack those issues I called up Gerry Zack, former CEO of the Society of Corporate Compliance & Ethics and the Healthcare Compliance Association. As compliance folks might…
Read MoreCompliance Jobs Report: Sept. 27
The Compliance Jobs Report this week has news from TransUnion, Timken, Stripe, Uber, Expedia, JLL, and lots more. We also have a few compliance pros opening their own consulting firms, new board directors at SCCE, job leads in healthcare, motorcycles, and mobile phones, and plenty other gossip! Always remember that we need your help to…
Read MoreMaking a Compliance Charter Work
Compliance officers are always looking for ways to help the board of directors oversee the ethics and compliance function, so today let’s explore one way to do that by adapting an idea from the internal audit function: a charter that spells out board oversight duties. Specifically, the audit committee of the board is charged with…
Read MoreWells Fargo Taken to Task Again
Banking regulators dinged Wells Fargo yet again last week, this time for the bank’s failure to develop strong anti-money laundering controls and risk management practices. Wells must now implement a litany of improvements from the board on down, so pull up a chair; we have a lot to review here. The enforcement action came last…
Read MoreFifth Third Bank Settles Bogus Accounts Mess
Fifth Third Bank has agreed to pay a $20 million fine and to overhaul its employee performance management practices, to settle a long-running lawsuit that workers were opening fake accounts without customer permission to meet sales goals and that they were saddling auto-loan borrowers with insurance the borrowers didn’t need. The Consumer Financial Protection Bureau,…
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