DOJ Guidance: From Self-Assessment to Best Practices · compliance program, AND have a documented...
Transcript of DOJ Guidance: From Self-Assessment to Best Practices · compliance program, AND have a documented...
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DOJ Guidance: From Self-Assessment to Best Practices
August 1st, 2019
Tom Fox, The Compliance Evangelist
Katie Smith, EVP Chief Ethics & Compliance Officer, Convercent
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Agenda
Housekeeping & Introductions
Self Assessment Overview
Best practices
Conclusion
Q&A
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Housekeeping…
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Speakers
Tom FoxCompliance Evangelist ® and author of The Complete Compliance Handbook
Katie SmithEVP, Chief Ethics and Compliance Officer at Convercent
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Compliance Program Evolution
DOJ Guidance
+
Self Assessment
=
Now what?
The Self-Assessment
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Enhancing Your Program with the Assessment
Research
Assess
Prioritize
Dig into your program to get a thorough understanding of its design, implementation, and effectiveness.
Complete the assessment to compare your compliance program against each section of the new guidelines.
Use your scores to cater the recommendations of how to enhance and grow your E&C program.
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Three Fundamental Questions
• Is the corporation’s compliance program well designed?
• Is the program being implemented effectively?
• Does the compliance program work in practice?
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Using the Scores
Emerging
Evolving
Leading
Well Designed
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Initial Questions to Consider
• Is your program designed for maximum effectiveness in
preventing and detecting wrongdoing by employees?
• Is management enforcing the program or is it indirectly
encouraging or pressuring employees to engage in misconduct?
• Is there a clear message that misconduct is not tolerated?
• Are policies, procedures, training programs, systems of incentives
and disciplines well integrated into your company’s operations?
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Program Design Best Practices
Risk Assessment Policies & Procedures Training & Communications
Confidential Reporting Structure &
Investigation Process
Third Party Management
Mergers & Acquisitions
Effectively Implemented
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Initial Questions to Consider
• Is there a significant focus on implementation of your compliance program to
ensure effectiveness?
• Are you consistently reviewing and revising the program in an effective
manner?
• Do you provide staff with necessary information to audit, document, analyze,
and utilize the results of the company’s compliance efforts?
• Are employees not only adequately informed of the program, but committed to
its success through a strong culture of ethics?
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Effective Implementation Best Practices
Commitment by
management
Autonomy & resources
Incentives & disciplinary measures
Works in Practice
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Initial Questions to Consider
• Was misconduct detected? If so, how was it detected?
• What investigation resources are in place to investigate suspected misconduct?
• What is the nature of thoroughness of the company’s remedial efforts?
• Has the corporation made significant investments in and improvements to its
corporate compliance program and internal controls systems?
• Have remedial improvements to the compliance program and internal controls
been tested to demonstrate they would prevent or detect repetitive
misconduct in the future?
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Works in Practice Best Practices
Continuous improvement,
periodic testing, and review
Investigations of misconduct
Analysis and remediation of any
underlying misconduct
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Key Takeaways
• Capitalize on the opportunity to improve using the data and
analytics derived from your program.
• It is critical that you are able to measure, assess, and enhance your
compliance program, AND have a documented process for all of
these strategies going forward.
• The Self-Assessment Tool, along with these recommended best
practices, will give you the basic information to move forward and
elevate your program.
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Resources
https://www.convercent.com/department-of-justice-guidelines-self-assessment
https://www.convercent.com/department-of-justice-guidelines-best-practices
Questions?