Top CCO Resolution for 2023: Use DOJ’s Guidance to Chart a Path Around Danger
2023-01-06 | News
Corporate Compliance Insights – In this commentary, Maria D’Avanzo, Traliant’s Chief Evangelist Officer, discusses steps that compliance leaders can take to reduce the risk of misconduct and avoid sitting across from the Department of Justice (DOJ).
Here’s an excerpt:
As we reflect on 2022 and plan for 2023, one of the most important lessons for chief compliance officers comes from the expanded DOJ framework for cracking down on corporate crime. While the 2022 updates to the agency’s guidance certainly signal a new, more aggressive approach to enforcement, they also give CCOs a useful blueprint for reducing the risk of misconduct before it occurs.
Here are four practical, effective (and low-cost) steps you can take in 2023 to avoid sitting across from the DOJ because of criminal activity in your shop.
- Evaluate your ethics and compliance program against the DOJ criteria.
- Educate your C-suite about the DOJ’s focus on individual accountability and compensation clawbacks.
- Develop a remediation framework before misconduct occurs.
- Roll out tailored training to your employees and measure the outcomes.