Now that FCPA Expert Tom Fox has set out Compliance 2.0 as one of his key 2016 trends, here are my top five recommended 2016 resolutions for modern Compliance 2.0 CCOs:
- Prioritize Everything.
Maximize your effectiveness by prioritizing every activity and decision. I’ve never met a CCO with an overflow of time on their hands, and therefore I always counsel CCOs to have a plan and to prioritize, prioritize, prioritize. Because, as the great Stephen Covey powerfully wrote: “Begin with the END in mind!” No better mantra for CCOs has ever been written or imagined!
- Live by your Mandate.
Clarify your mandate and role, once and for all. The first step to a robust compliance program that works is a strong CCO with a clear, unambiguous mandate. This is usually the fatal flaw in, and missing element from, Compliance 1.0 programs. The engine that drives a modern effective compliance program is a clear, independent Compliance mandate that is embraced by everyone, from the Board to the mail room.
- Build the Ship While Sailing.
As the subject matter expert (“SME”) for effective Compliance and Organizational Culture, the CCO should resolve to embrace the SME role and resolve to build Compliance subject matter expertise in the Compliance TEAM and in everyone else in the organization who must support the program and an ethical culture.
- Leverage Every Activity (The Joe Murphy Rule).
Since every CCO will not have the advantage of being mentored by the great Joe Murphy, I will use this list to pass on one of Joe’s most powerful rules: Leverage Everything! From Joe, I’ve learned to prioritize those activities and projects that further more than one key goal, with 3 being ideal. Begin with the End in Mind!
- Support the Profession.
All CCOs and friends of the profession should remember that their progress is closely intertwined with the path of the profession. Be a mentor, expand your network, share best practice, and educate your teams. Thus, in keeping with resolution # 4 above, the great majority of my own projects are undertaken because they support the profession.
So there you have it, my EthiTweeps – 2016 will be a Compliance 2.0 year! Go forth and prosper! Build robust programs that work! Do that for yourself, your company and for the profession!
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