Compliance and Ethics in Review: August 23, 2018

The Latest and Greatest Industry News

Data and digital opportunities in Indian healthcare, unexpected GDPR consequences, reimagined codes of conduct, and more

Each week, Convercent will highlight some of the top stories and most newsworthy events in the ethics and compliance industry. The focus is global, but you might be surprised by how relevant these stories are, both across borders and businesses.

Novartis appoints Dr. Klaus Moosmayer as Chief Ethics Risk and Compliance Officer

Last week, Novartis announced the global healthcare company’s appointment of Dr. Klaus Moosmayer as Chief Ethics, Risk and Compliance Officer. Dr. Moosmayer will report to Vas Narasimhan, M.D., the CEO of Novartis.

The Chief Ethics, Risk and Compliance Officer role was originally created in 2014, and it brought “the Compliance function to the highest levels in the company.” This year, the role was expanded even further — Dr. Moosmayer will oversee all risk management functions as a member of the Executive Committee of Novartis.

There’s an explosion of data & digital opportunities in Indian healthcare: Vasant Narasimhan, CEO, Novartis

In news related to Novartis, Dr. Narasimhan (CEO) recently sat down with the Economic Times of India to discuss a wide variety of topics. From India’s plan to provide healthcare to 10 million families to Dr. Moosmeyer’s recent appointment, it’s an intriguing interview.

“My hope is that by bringing the learnings from other industries, he can apply everything here and he is big on use of data science analytics to be able to predict where the risks [are] both with third [parties] and our own operations. My hope is we should get better at predicting risks and apply solutions proactively. That will raise our overall performance.”

Keith Read (Convercent’s Senior Director, Europe) recently shared his thoughts on what’s next for data privacy. He applauded the life sciences industry for their commitment to data protections, and so far the praise appears to be well-earned.

Ethics & Compliance Professionals: You Have Your Board’s Attention

Speaking of getting buy-in from the board, this piece from Financial Executives International highlights the importance of board training, especially in the wake of movements like #MeToo and Time’s Up. More and more organizations are training their board of directors on compliance, and this article offers some tips on how you can approach training in your own organization.

15 Unexpected Consequences Of GDPR

We’ve talked about the GDPR and its consequences extensively here on the Convercent blog. In this article from Forbes, 15 members of the Forbes Technology Council share some of the unexpected consequences of the GDPR that they’ve noticed so far.

It’s a must-read for any business impacted by GDPR. Some of the consequences are positive, others more negative, and many are surprising. To learn even more about what the GDPR means for organizations, be sure to read our 4-part series, The GDPR is in Effect… Now What?

Mavs CEO Celebrates Completion of 100-Day Plan to Change Workplace Culture

The Dallas Mavericks’ new Chief Executive Officer, Cynt Marshall, has been on the job for six months now. A former AT&T executive, she was hired by owner Mark Cuban after Sports Illustrated detailed allegations of sexual misconduct in the team’s front office. The first order of business was launching a 100-day plan to change an environment that was deemed hostile to women.

In an interview, Marshall explained, “I see something very different now when I walk in than when I walked into that office in late February. So, I’m just really fired up about that … I believe we have truly established a work environment where people know what’s acceptable, what’s not, and where inappropriate behavior, retaliation, any kind of misconduct won’t be tolerated.”

Modernizing a Code of Conduct: Choosing a Medium and Drafting

Modern codes of conduct, “must be engaging, easily accessible and serve as a resource for employees.” However, as Nicole DiSchino’s Anti Corruption Report series on codes of conduct goes on to explain, companies have a large degree of flexibility in the specifics of how their codes are formatted and delivered.

In this detailed article, Katie Smith (Convercent’s Chief Ethics & Compliance Officer) shares her thoughts on interactive codes of conduct, including web-based codes. They’re a tool we use here at Convercent, and as Katie explains, “I had a vision for an engaging site, involving elements of gamification, that would draw the different members of our diverse workforce in and encourage them to seek out information.” It’s an opportunity that isn’t available with more traditional forms of media.