Top Five 2016 New Year’s Resolutions for CCOs (including the Joe Murphy Rule)

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Top Five 2016 New Year’s Resolutions for CCOs (including the Joe Murphy Rule)

scce-cep-2015-03-Boehme (2)By Donna Boehme
dboehme@compliancestrategists.com

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:

  1. 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!
  1. 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.
  1. 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.
  2. 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!
  1. 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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4 COMMENTS

    • That reminds me of another buzzword NIH_ “Not Invented Here” If you took the time to read the developments behind Compliance 2.0 you would better understand why Compliance has to evolve towards an empowered, independent model with true subject matter expertise, line of sight, seat at the table, and resources to do the job well.Most of the big compliance failures can be attributed to some variation of Compliance 1.0- the knee-jerk native assumption that Compliance is a subset of Legal, instead of an entirely separate profession and subject matter expertise that must be positioned correctly within the organization in order to succeed. If you’ve missed out on this discussion, we will be releasing an infographic at Compliance Week (May 25) that sets out all the elements of the modern CompliANCE 2.0 model, with plenty of real life examples. It’s important to the future off the field and profession that the myths of Compliance 1.0 be exposed and explained.

      Just curious, but I’m betting you didn’t like “GRC””buzzword” either! Another one for the NIH basket! Cheers.

      • GRC is a short-hand abbreviation, not a buzzword.

        I’ve read lots of material on “Compliance 2.0.” At least in the FCPA space, few if any FCPA issues are going to be “nipped in the bud” (pardon the buzzword / cliche) based on the following purported components of Compliance 2.0: the reporting relationship between a board of directors and chief compliance officer or general counsel; a CEO or other executive officer’s “tone at the top” (another mostly meaningless buzzword in the FCPA space); or consideration of other stakeholders.

        http://www.fcpaprofessor.com/compliance2-0

  1. Donna — thanks for your leadership on ethics and compliance issues, and in particular on Compliance 2.0. It is important for compliance professionals to join in the continued need for education and enlightenment. Of course, we all know the benefits of robust ethics and compliance programs, which is supported by volumes of research confirming that companies that promote effective ethics and compliance programs are more profitable in the long run and experience significant reductions in employee misconduct. Keep up the good fight — Mike Volkov

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