Episode 3-The Process of Building a Culture of Compliance

08/08/19 • 13 min

We have been getting accountability all wrong in the compliance profession. It's not a set of tasks - it's a way of thinking and it has to come from the heart as well as the head. On Accountability: The Heart of Compliance Tom Fox and Sam Silverstein dig into what accountability means to the corporate compliance function and business organizations and most significantly, how to make it an integral part of your culture. In this episode we consider the process for building a culture of compliance. Some of the highlights include: · How to perform an accountability assessment?· What is a core values evaluation?· How can you both discover and assess your company’s core values?· How can you establish core values?· How can you disseminate your core values throughout your organization? For more information on Sam Silverstein’s Consulting and Organizational Development, click here.

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Previous Episode

When a Company Loses Trust

In this episode of Accountability in Compliance, our hosts Sam Silverstein and Tom Fox and get into the details surrounding the recent speculation around KPMG for fraudulent conduct such as bribery to PCAOB employees to obtain audit schedules, and cheating scandals around ethics in compliance.

Stepping on the Accountability ScaleAs talked about on last week’s show, accountability is about showing commitment to people and to values. Sam finds it ironic that, on the KPMG website, the CEO states their core values but over the last few years, KPMG has been found guilty of many, many fraudulent conducts, which pretty much brings their so-called core values down to a lie. He questions the fact that people would still want to do business with liars even after the facts have been publicly exposed. Sam says the lack of accountability is not only to be blamed on KPMG; it is also on our society for allowing such an organization to continue.

Is Change Possible?According to Sam, if KPMG wants to make a change, first of all, the senior leadership has to believe in the supposed core values of the organization. If the senior leadership goes around the values, then everyone else in the organization will feel it is acceptable to go around the values, as well. As soon as you are making a decision that doesn’t connect to the values, you are sending out the message that value doesn’t count. Another - albeit more drastic - way to make a change is to not allow anyone who doesn’t share the values to stay in the organization at all, thus ensuring that everyone in the organization understands that values matter and so, there are no ethical problems encountered. It has to be a full-on commitment from the top down.

Building Trust AgainSam says in order for customers to regain trust in KPMG, the CEO has to first ‘clean the house from the top down’ and prove over time that they are changing things and that in the future, they make sure to hire people that are from the get-go aligned with the core values of the organization.

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Next Episode

Episode 4-Delta Airlines Demonstrates Accountability

We have been getting accountability all wrong in the compliance profession. It's not a set of tasks - it's a way of thinking and it has to come from the heart as well as the head. On Accountability: The Heart of Compliance Tom Fox and Sam Silverstein dig into what accountability means to the corporate compliance function and business organizations and most significantly, how to make it an integral part of your culture. In this episode we consider a recent example of accountability in the corporate world, courtesy of Delta Airlines. Some of the highlights include: · Accountability means ‘your problem is my problem’.· Accountability means keeping your commitment to others. · When your organization is accountability to your community it inspires your employees.· How accountability informs your core values. For more information on Sam Silverstein and his work on accountability, click here.

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