Apr 26 2024 28 mins 2
Only have time to listen in bite-sized chunks? Skip straight to the parts of the podcast most relevant to you:
- How to update risk monitoring systems. (6:03)
- Why is the FCPA and compliance monitoring and analytics under scrutiny? (10:40)
- How can AI and other technologies help with risk monitoring and detection. (12:31)
- Tips on implementing the DOJ’s guidance on incentive compensation structures. (14:46)
- Tips on implementing the DOJ’s and the FTC’s guidance on messaging apps and collaboration tools guidance. (20:19)
The U.S. Department of Justice (DOJ) has upped the ante on compliance program effectiveness with a wave of guidance issued since 2022. Legal and compliance leaders would benefit from assessing and improving three key priorities outlined by the DOJ:
- Update risk monitoring systems
- Incorporate incentives into compensation structures to foster compliance culture and establish clawback policies
- Establish policies and procedures to preserve communications and data from messaging and collaboration tools and personal devices that are used for business purposes
In this installment of the Strategic GC Podcast, Gartner analyst Lauren Kornutick and host Alissa Lugo discuss how leaders can improve compliance program effectiveness based on DOJ guidance. It includes three areas to prioritize, how to assess compliance program effectiveness, as well as case studies from QBE, AbbVie and Intel on progressive risk assessment and monitoring practices.
