Due Diligence NOT dENY, dENY, dENY

Risk Management Framework

April 1, 2017

 

Risk Management Framework

#1 Objective or Goal – Determine what needs to be done

#2: Identify Risks – What can go wrong (e.g. Trending crimes, Circulate questionnaire, Access complaints, Claims, Cases)

#3 Prioritize Risks – Order of urgency (i.e. likelihood of it occurring and impact) to evaluate the controls in place and to recommend how to mitigate those risks. Then the organization can focus its resources on 

#4 Control Activities- Actions, Policies and Procedures must be...

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Compliance & Ethics Basics

April 1, 2017

RISK MANAGEMENT & COMPLIANCE

In addition to capturing compliance regulations and laws in an organizations compliance program, the organization needs to understand the nature and impact of the risks being faced in not only their organization and industry, but the intersecting industries as well. This solid and comprehensive understanding will afford an organization to better design their compliance and risk management programs and develop controls to mitigate risks.


 Use available...

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Compliance & Ethics Programs

March 31, 2017

COMPLIANCE & ETHICS BASICS

Knocking it out of the Park


Per the Federal Sentencing Guidelines for Organizations (FSGO) a compliance program must establish two fundamental elements to be considered an effective program:


– Procure an organizational culture of law abiding ethics and conduct
and
– Exercises due diligence to prevent, discourage, and identify criminal misconduct


The FSGO requires the following seven elements in a compliance program:

1. Establish Standards and Procedures to...

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Contract Administration

March 10, 2017

CONTRACT ADMINISTRATION
STRATEGIC ELEMENTS OF SUCCESSFUL CONTRACT ADMINISTRATION


Time and again resources that are negotiating and/or binding an organization in an agreement are clueless of the ramifications. Some strictly rely on the automated tools for determining document or redline changes without actually reading the contract. Some fall for the line of “we only use our contract- sorry it’s a deal breaker”. Some don’t even assess the big picture of the agreements impact as they are more...

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Surviving the Legal and Corporate World

March 2, 2017

FIRST THINGS FIRST:
GET AND STAY ORGANIZED BY LISA MARIE WAUGH

Earlier in my legal career, I had to deliver handwritten messages (you know a simple pink paper with “Message” at the top) to all the partner attorneys of a law firm. One of them, who shall remain anonymous, takes the prize for most cluttered office and desk. With every delivery to his office, I saw more and more evidence of not only all my previous messages, but some belonging to those other brave legal receptionists before me....

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