If you want to learn and read about managing third-party risks, you will have no trouble finding articles, white papers, webinars and more available to you on the Internet. And for good reason. Third-parties create significant risks, and these risks are not just limited to bribery but extend into sanctions, money laundering, privacy and cybersecurity, human trafficking, child labor and reputational damage. The compliance marketplace...
If you give a Chief Compliance Officer truth serum and ask him/her whether they believe a risk assessment is valuable, what do you think the CCO say? Let’s start with the cynical side – not that I am a pessimist. Many CCOs will candidly tell you that a risk assessment provides them with a colorful and expensive report on the company’s risks that contains no...
Chief compliance officers face imposing tasks on a daily basis. The tasks often look insurmountable and it is easy for CCOs to just turn away and find a more manageable set of tasks. Compliance requires resources and those resources are not limitless. In other words, a CCO has to decide how to allocate limited resources. A CCO has to be an efficiency expert, especially when...
This week I am posting a series on due diligence. Also, I just released a new e-book on due diligence which can be downloaded here. There are basically two types of people. People who accomplish things, and people who claim to have accomplished things. The first group is less crowded. – Mark Twain In a former life (or even present life), Mark Twain had to...
