Ned Garver died earlier this week. Not a familiar name to you? It may be due to the fact he is the only pitcher in the modern era to win 20 games pitching for a team which lost over 100 games in a season; a feat which he accomplished in 1951 pitching for the worse than hapless St. Louis Browns. How dominating was his performance? The next highest number of wins on the pitching staff was 6. He came in second to Yogi Berra for the American League’s (AL’s) Most Valuable Player (MVP) Award for the season. How bad were the Browns? Garver once said, “The crowd didn’t dare boo us. The players had them outnumbered.”

According to his obituary in the New York Times (NYT), “Garver, a right-hander who was just 5 feet 10 and 180 pounds, thrived with sinkers and sliders while changing speeds and taking advantage of hitters’ strengths and weaknesses. He pitched for 14 seasons in the A.L. and won 129 games. He lost 157 times, but never pitched for a first-division team. Satchel Paige, a Browns teammate of Garver’s, recalled in his 1962 memoir, “Maybe I’ll Pitch Forever,” written with David Lipman. “Even with that slow stuff of his, he did right well all along, just using his head.””

One event which promises to be most excellent is the upcoming Third-Party Risk Management & Oversight Summit, on March 20 & 21 at the Princeton Club in New York City. I will be attending and speaking at the event and I hope that you can join me. I have had the opportunity to do podcasts with the Event Chair, Melissa Evans, Lead, Quality Systems – Supply Chain Management, Royal Caribbean Cruises (Episode 307) and Forrest Deegan, the Chief Ethics and Compliance Officer for Abercrombie & Fitch (A&F) (Episode 311).

Melissa discussed the nature of this year’s event and discussed her experience from last year that led her to Chair this year’s Summit. She detailed her role as Lead, Quality Systems – Supply Chain Management, and provided some of the highlights of the conference. She discussed the audience the conference would benefit. Forrest detailed how to perform an return on investment (ROI) analysis of a third-party program for both the sales and supply chain side of things, drawing from his experience at A&F. He related some of the costs for getting it wrong in the short-term, along with smart money investments and cost-cutting ideas and then provided some insight into the cost-benefit analysis on A&F third-party programs.

There is going to be a good mix of corporate compliance practitioners, in-house legal eagles, outside counsel and government regulators, including the always informative Kara N. Brockmeyer, Chief, FCPA Unit, Division of Enforcement, US Securities and Exchange Commission (SEC), who will relate SEC expectations around third-party risk management. With the recent release of the Department of Justice’s (DOJ’s) Evaluation of Corporate Compliance Programs (Evaluation), it will be interesting to hear the SEC take on the document.

Other highlights include Stephanie Meltzer, Vice President, Assistant General Counsel, Chief Compliance Counsel, Pfizer Innovative Health, Compliance Division Pfizer Inc. and Cynthia Roller, Americas Trade Compliance Manager Caterpillar Inc., on the topic of “Conducting Risk Assessments for Different Third Parties: Agents, Vendors, JVs, Suppliers”. They plan to discuss the following topics: evaluating typical and relevant risk factors quantitatively and qualitatively, conducting risk assessment interviews and questionnaires, how to evaluate relationships and connects, how to customize your view based on the relationship, the best use of background and reputation checks and understanding special risks when dealing with family-owned business.

Paul Wear, Director, Channel & Business Compliance – Internal Audit, NetApp, Inc., and Janice Avery, CPA, FCPA, CFF, CHCC, Global FCPA Manager, Arthrex Inc., will lead a discussion on how to best conduct an effective third-party audit. Highlights include where to begin as there is no ‘one size fits all’ approach, how to align your audit to the risks you are addressing, a framework to help you assess what you should be testing, exploring the value for the partner, vendor, or supplier being reviewed to enhance your business relationship and finally reporting the results of your audit.

For the more legal minded among you, James Davis, Counsel American Express, Iskah C. Singh, Director, Global Anti-Corruption, Xylem Inc., and Lindsey Wilson, Corporate Counsel, will lead a panel which focuses on critical compliance terms and conditions which you should include in your third-party agreements. They will speak to the clauses that are a must have, nice to have and one you can negotiate away. They will explain how such legal clauses can help to set firm and unwavering standards and values you insist your vendors follow. Bookending this panel will be one which discusses your termination option for when it all goes wrong and you need to exit from a contractual relationship.

A most interesting panel consisting of James J. Gibson, Global Compliance Counsel, The Coca-Cola Co., Diana M. Jagiella, Vice President, Chief Compliance Officer, The Mosaic Company, and Paul Sullivan, Vice President, International Business Development, Acrow Corporation of America, will lead a discussion of Anti-Corruption Landmines: Risks When Dealing With Third Parties Outside the United States. They plan to discuss the latest Foreign Corrupt Practices Act (FCPA) trends and updates, identifying not-so-obvious bribes and corruption to stay ahead of the game, identify potential government relationships (that may not seem obvious), how anything of value really does mean anything and lay out the specific risks in certain regions of the world (e.g. Chinese agents that are also foreign officials).

As you can see from this detailed discussion it will be a most excellent event and if you are in NYC or somewhere close I hope you can join the event. I will be speaking on the ROI of third-party panel with Forrest Deegan and I have already communicated to him just how much I expect to learn from him.

The best part of having read this blog is you, as a reader of this blog, will receive a 15% discount off of the regular price of the event. To take advantage of this offer enter the Code CMP 161. For more information on the event, check out the website by clicking here.

This publication contains general information only and is based on the experiences and research of the author. The author is not, by means of this publication, rendering business, legal advice, or other professional advice or services. This publication is not a substitute for such legal advice or services, nor should it be used as a basis for any decision or action that may affect your business. Before making any decision or taking any action that may affect your business, you should consult a qualified legal advisor. The author, his affiliates, and related entities shall not be responsible for any loss sustained by any person or entity that relies on this publication. The Author gives his permission to link, post, distribute, or reference this article for any lawful purpose, provided attribution is made to the author. The author can be reached at tfox@tfoxlaw.com.

© Thomas R. Fox, 2017

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