The Management of Risk and Compliance: The Board’s Role
On Wednesday, October 3, 2012 at 2pm EST, Morvillo Abramowitz Partners Jeremy H. Temkin and Richard F. Albert, joined by Douglas M. Lankler, Executive Vice President, Chief Compliance and Risk Officer, Pfizer, Inc., took part in a Directors & Boards webinar entitled, "The Management of Risk and Compliance: The Board’s Role." In today’s business climate, where no organization, company or individual is ever completely free of a scandal, a crisis or an occasional allegation of fraud, Board members must be well versed in their company’s code of conduct, the process used to identify emerging risks, the procedures in place to test the process, and the methods used to measure the risk and compliance program effectiveness.
This webinar reviewed the risk and compliance responsibilities of the Board, and covered topics including: the questions to ask when assessing the compliance program’s effectiveness, how to evaluate the culture of the organization with respect to what the messages communicated are and how they are heard/demonstrated throughout the organization, understanding how risk assessment is achieved both within the United States and in International locations, what to do when a breakdown occurs, what the differences are between court appointed monitors and integrity counsel and how each relates to the Board. Lessons to learn from recent headline-grabbing breakdowns as well as successful compliance efforts were also discussed.