The discussion highlights how compliance remains essential even in a changing political landscape. Experts stress the importance of ethical practices and integrity in organizational operations. The conversation dives into vendor risk management, emphasizing trust in competitive sectors like healthcare. It also examines the vital role of internal stakeholders in navigating compliance challenges. Additionally, the need for flexible compliance programs and effective communication to tackle emerging risks is underscored, showcasing an evolving landscape for compliance professionals.
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insights INSIGHT
Compliance Remains Crucial
Compliance's fundamental responsibilities haven't drastically changed under the new administration.
Focus remains on ethics, integrity, and vendor risk management.
insights INSIGHT
Compliance in Business Interactions
Compliance capabilities are vital when interacting with other businesses.
Vendor risk management and ethics/compliance programs are merging.
question_answer ANECDOTE
Vendor Scrutiny
A lawyer working with small tech startups shared an anecdote.
Large corporate customers scrutinize vendors' trustworthiness and compliance programs.
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The award-winning Compliance into the Weeds is the only weekly podcast that takes a deep dive into a compliance-related topic, literally going into the weeds to explore a subject more fully. Looking for some hard-hitting insights on compliance? Look no further than Compliance into the Weeds! In this Compliance into the Weeds episode, Tom Fox and Matt Kelly discuss a recent conference Matt attended that delved into compliance and the compliance profession in the Age of Trump II.
Their discussion highlighted insights from a recent compliance panel hosted by Suffolk University Law School, featuring experts from large tech companies, a multi-state credit union, and a partner from a private law firm. The consensus among these experts is that despite the change in administration, the fundamental responsibilities and importance of compliance remain largely unchanged for organizations. Compliance is now deeply embedded in business operations, key in managing vendor risk, ensuring data protection, and upholding ethical standards.
Matt emphasizes that compliance capabilities are vital when dealing with other companies, whether they are customers or vendors. The conversation explores the convergence of vendor risk management and ethics & compliance programs and examines how organizations can sustain their integrity and manage emerging risks. Matt and Tom touch on the potential impact of new regulations, the importance of internal stakeholders in the compliance process, and the necessity of maintaining a robust risk management framework in an ever-changing regulatory environment. This episode provides valuable insights for compliance officers navigating the complexities of the modern corporate landscape.
Compliance into the Weeds