In this special five-part podcast series, I interview John Gill, the Vice President for Education at the Association of Certified Fraud Examiners (ACFE). In this series, John discusses five well-known fraudsters; including what caused them to engage in fraud, the fraud scheme they employed and how they were caught. More significantly we tie this what compliance professionals need to have in place to detect and prevent corruption.  In this Episode 1, we discuss Nathan Mueller and the Fraud Triangle. Some of the highlights include:

  1. How does the Fraud Triangle help to explain Mueller’s fraud?
  2. How can everyday pressures lead to an employee engaging in fraud?
  3. How does a merger provide cover for a subsequent fraud?
  4. What led to Mueller’s downfall and being caught?

For listeners of this podcast, the ACFE is offering a free Fraud Risk Assessment Tool. Check out this great offering by clicking here.

For more information on the ACFE, click here.

In this new podcast series, recovering screenwriter (and Mr. Monitor) Jay Rosen and myself will indulge in passion for the movies by looking at them through the lens of compliance. Jay is a contemporary movie fan and I am more of a classic movie maven so we present a well-rounded view of the movie fandom. So if you want to indulge in your love for the movies with two guys who are passionate about Hollywood and get some ideas for your compliance program, this is the podcast series for you. Today we look at the classic favorite, Mary Poppins Returns.

Some of the highlights include:

  • Can you successfully remake a beloved classic?
  • How do eggs come into play in Hollywood and beyond?
  • Where is Dick Van Dyke when you need him?
  • Does the cinematography still work some 50 years after the original?
  • Why you need to watch the original Mary Poppins before seeing Mary Poppins Returns.
  • Jay feels that while Mary Poppins Returns had the support and investment of the Walt Disney Company and it faithfully tried to recreate the original, the artistic returns fall short of the sum of its parts.

The Compliance takeaways:

  1. Document Document Document-the parable from the share certificates to save the house on Cherry Tree Lane.
  2. Change in corporate culture needed-Mr. Dawes Jr. (Dick Van Dyke) fired Bank President William Wilkins.
  3. Tone at the Top-As bank President, William Wilkins had taken the bank far afield from its mission and core values.
  4. If you lack the passion, you may fail.
  5. You cannot simply follow the road map, but you must design your compliance program to be fresh, as you are taking this journey for the first time. Not that you must re-invent the wheel, but you need to keep your colleagues and employees engaged on their journey.

The Texans stink up their playoff game, the Bears double-doink their way out, the Seahawks lose but have a great backdoor cover, while in the college ranks Clemson absolutely destroys the previously undefeated Crimson Tide; all while the Trump Shutdown continues into its 3rdweek. Tom and Jay are back in the saddle for a look at some of this week’s top compliance and ethics stories.

  1. Nissan and Carlos Ghosn are back in the news. Nissan is investigating other senior execs (Financial Times). Ghosn says the Board approved all his illegal conduct, making it legal. (NYT) His lawyers try to get him bail. (WSJ) Where is the Magna Carta when you need it (Financial Times-Op-Ed)
  2. Will Credit Suisse skate liability in the Tuna Bond scandal? Brooke Masters opines in in the Financial Times.
  3. OFAC goes after Venezuelans for an embezzlement scheme. Jonathan Rusch discusses it his great blog Dipping Through Geomotries. Ian Talley reports in the Wall Street Journal.
  4. What are some of the top elements for a culture assessment? Rebecca Walker writes in the Compliance Program Assessment Blog.
  5. Want to know how to prevent fraud by using effective internal controls. Jonathan Marks gives his secret sauce on Board and Fraud.
  6. What does NAFTA 2 mean for the fight against corruption. Collman Griffin, Marc Alain Bohn and Richard Mojica report in the FCPA Blog.
  7. The DOJ Fraud Section see hike in individual prosecutions. What does it mean? Adam Dobrik considers in GIR.
  8. What will be the impact of the Yates Memo? Kelly Swanson explores in GIR.
  9. New pharma code bans all gifts. Dana Elfin reports in BNA.
  10. Tom is joined by Amii Barnard-Bahn with a 5-part podcast series on the top corporate scandals from the Board perspective on Across the Board. Check out the following: Part 1-CBS and Les Moonves; Part 2-the 1MDB and Goldman Sachs; Part 3– Facebook;Part 4-Tesla and Elon Musk; Part 5-Nissan and Carlos Ghosn. The podcast is available on multiple sites: the FCPA Compliance Report, iTunes, JDSupra, Panoplyand YouTube. Soon to be on Spotify and Corporate Compliane Insights.
  11. Start your new year off with the Compliance Evangelist in the Compliance Master Class training. The first session, hosted by Baker Tilly, will be in San Francisco on January 28 and 29. For information and registration details, click here.

 

For more information on how an independent monitor can help improve your company’s ethics and compliance program, visit our sponsor Affiliated Monitors at www.affiliatedmonitors.com.

In this five-part podcast series, I visit with Amii Barnard-Bahn to consider five of the top corporate scandals from 2018. The five we discuss are CBS, 1MDB/Goldman Sachs, Facebook, Tesla and Nissan. We explore the failures at the Board of Directors and at senior management and these companies need to do to not only solve the legal imbroglios they now find themselves in but to also regain the trust of their various stakeholder. In this fifth and final episode we consider the Nissan, the arrest of its former CEO Carlos Ghosn and what it means for both of them and the French auto company Renault.

Some of the highlights include:

  • Why is this matter on our Top 5 list?
  • Where was the Nissan Board when Ghosn was using company funds for private purposes literally across the globe?
  • Has there ever been such a high-profile situation where a Board of Directors had its CEO criminally charged and arrested?
  • Is this a situation of Japan Inc. trying to clean up its scandal plagued image?
  • How CEO entitlement can negatively impact an organization?
  • The worldwide automotive industry continues is scandal plagued cultures.
  • What is the role of Board oversight on a CEO?

Amii Bernard-Bahn is an expert on organizational culture, ethics, and leadership and frequently speaks and writes about these passions. She is a tireless advocate for diversity in leadership, serving on the Bay Area 2020 Women on Boards Leadership Council and testified in multiple committees for the successful passage of California’s #SB826. She specializes in accelerating the success of C-Suite executives and partners with leaders, corporate boards and their teams to help scale their business. She also consults with large to mid-sized organizations hire me to help them achieve exceptional results and cultivate an environment that inspires employees to do their best work. She can be reached via email at amii@barnardbahn.com.

In this five-part podcast series, I visit with Amii Barnard-Bahn to consider five of the top corporate scandals from 2018. The five we discuss are CBS, 1MDB/Goldman Sachs, Facebook, Tesla and Nissan. We explore the failures at the Board of Directors and at senior management and these companies need to do to not only solve the legal imbroglios they now find themselves in but to also regain the trust of their various stakeholder. In this fourth episode we consider the Tesla and how do you solve a problem like Elon Musk.

Some of the highlights include:

  • Why is this matter on our Top 5 list?
  • Will the Tesla Board ever reign in Elon Musk? Should they?
  • Musk is probably the most widely media-reported CEO in the US. His every move is watched? Is the Board of Directors up to the task?
  • Will the latest changes to the Tesla Board change anything?
  • His ‘funding secured’ tweet was the most expensive ever. Has anyone learned any lessons from this cockup?
  • What will be the regulatory response to Facebook’s selling of its customer’s data?
  • From the business perspective, Tesla’s production woes continue. Can they be solved?
  • Did the SEC and Jay Clayton cave into the Cult of Elon in its settlement?

Amii Bernard-Bahn is an experienced executive who has worked at Fortune 20 companies and nonprofits such as McKesson, Allianz and the California Dental Association, leading multiple functions, including Human Resources, Compliance, Legal, IT, and Communications. Now as an executive coach and strategic advisor Amii helps boards and leaders design exceptional work environments that enable organizations to outbehave and outperform the competition. 

Amii is a leadership columnist at Compliance Week and a favorite guest on the Compliance Podcast Network, covering CEO, board and governance best practices. She is a Fellow at the Institute of Coaching at McLean Hospital – Harvard Medical School. Current clients include First Republic Bank, The Gap, and Adobe. A lifelong diversity advocate, Amii recently testified in multiple legislative committees on the successful passage of CA SB826, the first law in the U.S. requiring corporate boards to include women.  She can be reached via email at amii@barnardbahn.com.