23 Mar

Financial Regulatory Compliance Challenges Survey

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What do Finance Sector Professionals Think of Financial Regulatory Compliance Challenges?

The Saint Louis Regional Chamber, in collaboration with Dr. Nitish Singh at Boeing Institute – Saint Louis University, has conducted two focus groups of Saint Louis area financial professionals to better understand emerging regulatory challenges.

We are happy to share these insights with you upon completion of a short 5 minute survey. The survey is meant to better understand the risks, challenges and trends in financial regulatory compliance.

The results of this survey will be compiled in a report to facilitate college curriculum development, as well as to be shared with industry leaders.

At the end of the survey, please make sure you check the link, which has a short video on the focus group findings.

You can access the survey at this location

We appreciate your participation.

01 Sep

Compliance Webinar – Psychometric Assessment

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On September 1st at 11:00AM Eastern Time Dr. Nitish Singh will be presenting a webinar on effective compliance communications and psychometric assessment. The webinar is entitled:

What We Need to Communicate & Why? 


Toward Effective Compliance Communications

The goal of this webinar is to help you better understand some of the root causes behind key compliance concerns, develop more effective compliance communications, and to discuss how to measure and document the impact of your compliance communications.

You can register for the quick (15 minute) webinar this location.

11 Aug

Compliance Courseware – Oversight and a Culture of Compliance

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The next section of our Compliance Courseware series is now available. In this section we discuss the Critical Success Factors for Compliance Management. We begin with a Chapter discussing the value of oversight and establishing a culture of compliance. You can access this material at the following location:

Chapter Six – Oversight and a Culture of Compliance

The previous lectures are available at this location.

This material is being made available for your educational, non-commercial usage, but if you would like to discuss your organizational needs for this, or other compliance related courseware, please get in touch.

If you found this material to be informative, we invite you to order your copy of our book today.

Additionally, on September 1st Dr. Nitish Singh will be presenting a webinar on effective compliance communications. You can register for the quick (15 minute) webinar this location.

17 Jul

Compliance Courseware – Compliance Program Elements

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The next part of our Compliance Courseware series, on compliance program elements, is now available. You can access it at the following link:

Chapter Five – Elements of a Compliance Program

The previous lectures are available at this location.

This material is being made available for your educational, non-commercial usage, but if you would like to discuss your organizational needs for this, or other compliance related courseware, please get in touch.

If you found this material to be informative, we invite you to order your copy of our book today.

10 Jul

Compliance Courseware – Risk Assessment and Program Structure

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The next part of our Compliance Courseware series, Chapter Four – Risk Assessment and Structuring the Program, is now available. You can access it at the following link:

Chapter Four – Risk Assessment and Structuring the Program

The previous lectures are available at this location.

This material is being made available for your educational, non-commercial usage, but if you would like to discuss your organizational needs for this, or other compliance related courseware, please get in touch.

If you found this material to be informative, we invite you to order your copy of our book today.

01 Jul

Free Compliance Courseware: Introduction

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In conjunction with recently release Compliance Handbook, we have developed complimentary interactive courseware to serve as an adjunct to each chapter’s text. This courseware includes audio lectures, slides, quizzes, and additional resources. These four lectures are the first of several sets of courseware which we will be sharing.

Introduction

 Section One: Importance and Foundations of Compliance Management

Chapter One – Why Doing the Right Thing Matters

Chapter Two – Dealing With Ethical Challenges

Chapter Three – Corporate Governance, Corporate Responsibility & the Environment

This material is being made available for your educational, non-commercial usage, but if you would like to discuss your organizational needs for this, or other related compliance courseware, please get in touch here.

If you found this material to be informative, we invite you to order your copy of our book today.

09 Jun

Ten Outrageous Bribes

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An article entitled “Ten Outrageous Bribes from Around the World”, written by The Corporate Ethics and Compliance Professors, was recently selected as a featured article for the Society of Corporate Compliance and Ethics’ publication: Compliance & Ethics Professional, in the June 2015 Edition.

Today we invite you to read that article and to gain further insight into the ways in which bribery and unethical behavior manifest in different cultural contexts. Additionally, you will learn about the ways in which localization can help you mitigate cross-cultural risks by bridging cultural gaps.

You may access the article at this location.

 

 

03 Jun

Compliance, Culture and Ethics: An Interview with Dr. Nitish Singh

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Professor Singh was recently interviewed by Dr. Kara Tan Bhala of the Seven Pillars Institute for Global Finance and Ethics. In the interview, Professor Singh discusses many concepts of interest to readers of this blog, including: corporate culture, ethics in compliance management,  ethics training, and more.

SPI

You can access the interview by clicking the SPI banner above, or by clicking here.

04 May

Compliance Principles: Ethical Leadership

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Today we share with you the first article of our new Compliance Principles series, which will highlight key operational concepts associated with ethics programs, management issues concerning ethics, and other themes in the realms of business ethics. The articles in this series have been generously provided by guest contributors and we thank them for sharing their knowledge with us.

Ethical Leadership

Douglas Roy – Ph.D. Candidate
John Cook School of Business – Saint Louis University
and Brendan M. Keating, VP – IntegTree LLC

 

Links Between Ethics and Leadership

Business ethicists increasingly highlight the importance of proper ‘tone at the top’ in establishing a healthy, ethical business climate. Leadership is a fundamental duty of management, therefore strong ethical leadership is a necessary pre-requisite in creating an organizational culture in which ethical behavior and business practices can flourish. In essence, ethical leadership is leadership that is directed by respect for ethical beliefs, values, dignity and rights of others.  It calls to mind concepts such as trust, honesty, consideration, charisma and fairness.

Concerns about ethics and leadership have dominated recent headlines about business and shaken public confidence in many organizations, and the historical, spectacular ethical lapses resulting in the implosion of Enron, Arthur Anderson, WorldCom, and Tyco come to mind. These catastrophic outcomes are directly linked to the lack of ethical leadership at these firms, and conversely the presence of strong ethical leadership can offer enormous boons to your organization; ethical leadership predicts outcomes such as perceived effectiveness of leaders, followers’ job satisfaction and dedication, and their willingness to report problems to management (Brown et al., 2005). These benefits flow from the fact that in the workplace, leaders should be a central source of guidance.  Yet we know little about the ethical dimension of leadership.  Most attention to this topic has relied upon a philosophical perspective, focusing on the question of how leaders ought to behave.  Although much has been said about the importance of ethical leadership, the topic has received little systematic scholarly attention (Ciulla, 1998).

A common refrain is that leaders’ ethics exert a significant influence on the ethical climate of the organizations they head.  For instance, the results of research done by Schminke et al. (2005) suggest that organizational leaders play an important role in the ethical climate of the organization. Despite this seemingly widespread knowledge, leaders often underestimate their influence (Trevino et al., 2000). It is important for leaders to recognize their influence in shaping the ethical climate of an organization. Their influences extend beyond the personal ethics of firm employees.  “The results indicated that leader moral development exerts an influence above and beyond that of the average moral development of firm employees.” (Schminke et al. 2005 p.148)  Mentoring or pairing young managers with more senior leaders who have reputations for ethical leadership could be a means in which to develop ethical leadership. By this method, a solid ‘tone at the top’ of the organization can filter down through the ranks to individual team leaders and supervisors.

Practical Implications

The practical implications for businesses come down to concerns of  problem avoidance and maintenance issue.  Company management may not always recognize that they are facing a moral issue. Rarely are ethical implications obvious, nor are observed issues necessarily easy to resolve.  Ethical decisions are ambiguous, and the ethical decision-making process involves multiple stages that are fraught with complications and contextual pressures. “The notion that being ethical is simple also ignores the pressures of the organizational context that influence the relationship between moral judgment and action.” (Trevino & Brown, 2004 p. 71)

Top leadership sets the pace and vector of the company, so it is only natural that such leadership guides the ethical compass as well.  Researchers have begun to study the phenomenon of ethically framing issues, and they refer to it as moral awareness, ethical recognition, or ethical sensitivity.  “The use of moral language has been found to influence moral awareness.” (Trevino & Brown, 2004 p. 70)  Using moral language in company policies and procedures can set the tone for ethical execution and the individual interpreting the guidance would be more likely to think about issues in ethical terms. This is important because outright unethical individuals are relatively rare. When thinking about what is right, individuals tend to look outside themselves for guidance; searching for consensus and context. “Most unethical behavior in business is supported by the context in which it occurs-either through direct reinforcement of unethical behavior or through benign neglect.” (Trevino & Brown, 2004 p.72)

In sum, the importance of ethical leadership in shaping business culture cannot be overstated. Managers and supervisors serve as powerful role models for their subordinates, and the examples that they set – for good or ill – will leave a lasting impression on their workforce and their business culture as a whole.

Below please find article references, as well as additional sources of information on the importance of ethical leadership, and how to foster this value in your workforce.

Ethical leadership References

Brown, M. E., Treviño, L. K., & Harrison, D. A. (2005). Ethical leadership: A social learning perspective for construct development and testing. Organizational behavior and human decision processes, 97(2), 117-134.
Ciulla, J. (1998). Ethics, the heart of leadership. Westport, CT: Quorum Books.
Schminke, M., Ambrose, M. L., & Neubaum, D. O. (2005). The effect of leader moral development on ethical climate and employee attitudes. Organizational Behavior and Human Decision Processes, 97(2), 135-151.
Trevino, L. K., & Brown, M. E. (2004). Managing to be ethical: Debunking five business ethics myths. The Academy of Management Executive, 18(2), 69-81.
Treviño, L. K., Hartman, L. P., & Brown, M. (2000). Moral person and moral manager: How executives develop a reputation for ethical leadership. California Management Review, 42, 128–142.
Treviño, L. K., & Weaver, G. R. (2003). Managing ethics in business
Watts, T. (2008). Business Leaders’ Values and Beliefs Regarding Decision Making Ethics. Lulu.com.

31 Mar

Book Release Announcement

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We are pleased to announce the release of our book:Compliance Management A How-to Guide for Executives, Lawyers, and Other Compliance Professionals. Yesterday Amazon featured our book as the #1 New Release in the Business and Law category.

As followers of this blog, you are already aware of the importance of ethical, compliant business practices – but our book will prove to be an invaluable resource for business professionals and academics alike; we include showcases, best practices, interviews, examples, guides and more. Additionally we are in the process of producing interactive courseware to accompany each chapter, in addition to quiz modules. We will also be providing whitelabel copies of this material for organizational and institutional use.

book cover

Please visit our book companion site to learn more about the book and view a brief introduction sample of the courseware.

You can order the book on Amazon, or via the publisher for 10% off with a coupon code on our site.