Donna Boehme is back on the Masters of Disaster® podcast to discuss what it takes for compliance to succeed. Donna often refers to the new approach for the architecture of Compliance 2.0. Fundamentally, Compliance 2.0 starts with subject-matter experts with experience in compliance and how compliance is designed and managed. The most important hallmark of Compliance 2.0. is having a leader who is able to lead the operations toward compliant behavior.
The five elements of the Compliance 2.0 model are described by Donna in an infographic found on her website here http://compliancestrategists.com/upgrade/wp-content/uploads/2016/05/Compliance-2.0-Infographic-1.pdf. The first two elements we discuss in more depth on today’s podcast are:
The Chief Compliance Officer (CCO) must have a clear mandate to design and manage “effective compliance programs” as described in the Federal Sentencing Guidelines. The CCO also has the support of the Board of Directors with unfiltered Board access.
Under Compliance 1.0, compliance was not independent from businesses and decision-making was high-jacked by business incentives. Compliance must have independent power to make decisions separate from the incentives of other departments.
Recently, Donna Boehme released a very popular article on the Five Signs that Compliance 2.0 is the New Normal (http://www.fcpablog.com/blog/2016/8/3/donna-boehme-five-signs-that-compliance-20-is-the-new-normal.html). We discuss the five signs and what about them points to a greater understanding and implementation of Compliance 2.0 today compared to twenty years ago. The five signs we discuss are paraphrased below:
Donna Boehme will attend the SCCE annual meeting in Chicago on September 26-28. If you are in Chicago at the event, please take the opportunity to meet her personally.
Donna Boehme is a principal of the firm Compliance Strategists (www.compliancestrategists.com), and a recognized leader in the field of compliance and ethics who brings a powerful mix of being a compliance officer, in-house legal and corporate secretariat perspectives, transactional experience, and deep global expertise. Donna is a compliance and ethics expert who helped develop the compliance and ethics best practices in use today by a wide spectrum of companies in the US and globally.
Compliance Strategists’ Compliance 2.0 resource site http://compliancestrategists.com/upgrade/
Previous Interview with Donna Boehme on the Masters of Disaster podcast: http://www.complyethic.com/podcast/2016/6/23/is-your-compliance-program-built-to-succeed-not-if-it-is-compliance-10-donna-boheme-explains
Masters of Disaster® is the registered trademark of ComplyEthic LLC in the U.S.
The Masters of Disaster podcast is available on iTunes.