compliance, governance and risk management - web 2.0 challenge

ComMetrics

2008_06_16

Session 9: Governance, risk and compliance

http://www.slideshare.net/ComMetricsUniversityLatest version can be found here just before class

Presented by

http://www.YouTube/ComMetricsComMetrics – videos

http://info.cytrap.eu/?p=134social media trends 2011

http://info.cytrap.eu/?p=176ComMetrics blog checklist

Urs E. Gattiker , Ph.D.

My.ComMetrics.com

http://www.slideshare.net/ComMetricsUniversity

http://www.youtube/ComMetrics

http://info.cytrap.eu/?p=134


ComMetrics

_Wrap up from last session

2011_01_17

3 critical things learned – why changing a company logo may be for the birds

_Introduction >Purpose >HowTo >Tools & Tips >Decision >Conclusions

ComMetrics

_SM can mean that a few people can make a lot of noise

– sometimes even a small group can convince

management to change brand logo, etc.

#1 Does logo still represent what we sell

Challenge today

Strategy: Adjust the logo and/or strategy

PS. Sirens – the creatures in Greek mythodology who lured sailors to

their death.

http://www.youtube.com/watch?v=W4eWHWZ3JZY

Only an MBA can come with such an idea

http://www.bnet.com/blog/salesmachine/why-starbucks-new-logo-is-a-dumb-idea/13950

2011_01_18

>Introduction _Purpose >How to >Decision >Conclusions >Tools & Tips

http://www.youtube.com/watch?v=W4eWHWZ3JZY
















ComMetrics

_Starbucks logo.

Solution: Starbucks' revised, streamlined logo removes the

outer green circle that bares the Starbucks Coffee name, enlarging

the inner siren, sometimes referred to as a sea nymph, in the

company's signature green hue.

Read – Oct/Nov. 2010 – GAP logo change http://commetrics.com/?p=10899

2011_01_18


http://commetrics.com/?p=10899


ComMetrics

_Example from a client

2011_01_17

How can we make these things work


ComMetrics

_Restaurant - lunch hour rush

#1 12:15 – everybody wants to sit = 15 minute wait

Challenge & kitchen being under pressure

Strategy: Getting regulars to come before or after rush hour

2011_01_18


ComMetrics

_Restaurant lunch hour rush: Exceeding com-

pliance & food/customer service standards

#1 12:15 – everybody wants to sit = 15 minute wait

Challenge & kitchen being under pressure

Strategy: Getting regulars to come before or after rush hour

Solution Seasonal ingredients, watch price – 15% discount

must order < 11:30 or after 13:30 hours

LA lunch truck – tweet daily special to followers

See also: http://www.ft.com/cms/s/2/70fab5a8-f762-11df-8b42-00144feab49a.html

2011_01_18


http://www.ft.com/cms/s/2/70fab5a8-f762-11df-8b42-00144feab49a.html









ComMetrics

_3 Why it matters – today„s 2 nuggets

1 What is compliance, governance and best practice?

2 How can one be compliant while still not follow the check-box mentality?

2011_01_18


ComMetrics

_Purpose

2011_01_18

What is this all about?

>Introduction _Purpose >HowTo >Tools & Tips >Decision >Conclusions

ComMetrics

_What is governance and compliance?

2011_01_18

Definition in textbook?

Does you textbook define governance, regulation & compliance?How were compliance/governance or regulation defined in other

MBA courses/modules?

How does governance and compliance / regulation relate toinnovation?

What is your company„s compliance policy?

(please bring document to class)

::::::::::::::::::::::::::::::::::::::


http://info.cytrap.eu//?page_id=59

ComMetrics


2011_01_18

What is the governance approach your company uses...

How does compliance, regulation and governance affect your

company„s outsourcing relationships (e.g., suppliers, sub-contracting,

etc.)?

::::::::::::::::::::::::::::::::::::::


ComMetrics


2011_01_18

CyTRAP Labs - risk

-




http://info.cytrap.eu/?page_id=178

http://info.cytrap.eu/?page_id=178







ComMetrics


Piracy, copyright, etc.

2011_01_18

300, 000 applications and 50,000 book apps on Apple„s App Store.

2010-12-14 a group of 4 Japanese publishers has accused Apple of ‚illegal„ behavior for allowing pirated versions of Japanase novels to be sold on its popular App store.

For instance, complete works of Haruki Muakami, the author of Norwegian Wood, The Wind-Up Bird Chronicle and other famous books is available in Chinese for $1.99




ComMetrics


Piracy, copyright, etc.

2011_01_18

Publishes complained about apps allowing users to view unauthorized scans of Japanese manga, or comics.

This seems to be a scalability problem but not a willingness one on Apple„s part.

„Apple is yet to clearly specify a contact point for removal requests or the procedures for removal, and even for the content that has been removed, it is unclear who removed the content and how the dtermination for removal was made,“ they said.

Neither has WordPress.com a proper process: http://commetrics.com/?p=11715





ComMetrics

_From Purpose to HowTo

2011_01_18

How do we put this into practice?

>Introduction >Purpose _HowTo >Tools & Tips >Decision >Conclusions

ComMetrics

_Margin of Error

2011_01_18

50 year maturity bonds as an example


ComMetrics

_Flawed maths a factor in financial mayhem

2011_01_18

50 year maturity bonds serves as an example


ComMetrics

_Guidelines CyTRAP

2011_01_18

Finally, regarding these guidelines:

“… their spirit must be observed as well as their letter.”

http://info.cytrap.eu/terms-privacy/sm-policy








http://money.cnn.com/2010/08/20/news/companies/inside_trader_joes_full_version.fortune/index.htm

ComMetrics

_Why is governance so difficult to grasp

2011_01_18

http://www.youtube.com/watch?v=1jV0AUjx6Ik 7 min

How do you get independent directors?What has it to do with better governance


http://www.youtube.com/watch?v=1jV0AUjx6Ik

ComMetrics

_3 assigned readings – Topic 9

2011_01_18

- we choose a student to moderate the discussion – you can

volunteer yourself for today or for tomorrow

- please have your notes ready – all students

- Chosen reading is:

- Could your risk management approach regarding IT, data,

marketing strategy, R&D fail?


ComMetrics


2011_01_18

- The study, presented recently at the annual meeting of the American

Accounting Association, examined 296 major financial institutions

around the world with assets exceeding $10 billion over the seven

quarters from January 2007 through September 2008. The sample

consisted of banks, brokerages, and insurance companies in 30

countries, including 125 in the U.S. and 131 in Europe.

-What did make a significant difference, though, was the amount of

company stock owned by institutional investors, with greater

institutional ownership translating into poorer stock performance.


ComMetrics


2011_01_18

- “...our findings cast doubt on whether regulatory changes that

increase shareholder activism and monitoring by outside directors will

be effective in reducing the consequences of future economic crises.“

- Corporate insiders want to protect their jobs (hide the bad news)

while “... independent directors have an incentive to avoid the

reputational cost of a bankruptcy by pressuring firms to raise equity

capital.” (raise equity in markets).

See also: http://www.accountingtoday.com/news/Independent-Board-Members-Played-Role-Financial-Woes-

55972-1.html

Your instructor has the complete research paper for you – http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1397685


http://www.accountingtoday.com/news/Independent-Board-Members-Played-Role-Financial-Woes-55972-1.html

















http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1397685

ComMetrics

_Tools & Tips – passwords

2011_01_18

- What can we do to manage that risk.... ?

- What type of risks are we talking about?

>Introduction >Purpose >HowTo _Tools & Tips >Decision >Conclusions

ComMetrics

_Tools & Tips - passwords

2011_01_18

- Risks and compliance – managing your passwords – how you can

do it best?

- all 3 months XYZ234_fm (password, can you remember?)

- [email protected] [email protected]

- password: 20Cynthia03

Best, use ou team member„s tool on your PC to store your

passwords:

Rony Shapiro – PasswordSafe is his gift to the world it works http://passwordsafe.sourceforge.net/


mailto:[email protected]

mailto:[email protected]

http://mobility.cytrap.eu/?p=97









http://passwordsafe.sourceforge.net/

ComMetrics

_Decision time – enforcements, audits and fall-outs

2011_01_18

- What can an organization do?

- What can the regulator do?


ComMetrics

_Student Case – Strategy – Distributor – Managing Data

2011_01_18

- student presents – price increases by suppliers

- How does this affect your stategy

>Introduction >Purpose >HowTo >Tools & Tips _Decision >Conclusions

ComMetrics

_Student Case

2011_01_18

- student presents – class discusses


ComMetrics

_Innovation – do compliance and governance guide us?

2011_01_18

http://www.youtube.com/watch?v=EBnBybyr-Jw 6 min – showing compliance to the company that outsourced IT

and data services into the cloud

What about Apple and its election process of board members?

===>http://online.wsj.com/article/SB10001424052748704118504576034020847007238.html?mod=wsj_share_twitte

r


http://www.youtube.com/watch?v=EBnBybyr-Jw



http://online.wsj.com/article/SB10001424052748704118504576034020847007238.html?mod=wsj_share_twitter

http://online.wsj.com/article/SB10001424052748704118504576034020847007238.html?mod=wsj_share_twitter

ComMetrics

_HSBC

‚had

Madoff

warning„

2011_01_18

The complaint alleges that: ‚The fees they received for their various roles

were nothing more than kickbacks paid for looking the other way.„


http://money.cnn.com/2010/08/20/news/companies/inside_trader_joes_full_version.fortune/index.htm

ComMetrics

_Compliance and enforcement Source: FT 2010-12-07, p. 17

2011_01_18

>Introduction >Purpose _How to >Decision >Conclusions >Tools & Tips

Allegations that HSBC served as amajor conduit for funding Bernard Madoff„s huge Ponzi scheme

This investigation will fuel concerns about HSBC„s compliance and oversight functions.

Ireland – many „feeder“ funds for Madoff, investigation ongoing for more than 1 yr.

ComMetrics

_Compliance and enforcement Source: FT 2010-12-07, p. 17

2011_01_18


Several investor lawsuits are already pending in Ireland and France

HBSC lost more than 1bn of its own money thanks to Madoff

US courts an be dangerous for European banks.

1998 UBS and Credit Suisse agreed to pay 1.25bn after a deluge ofnegative publicity about their treatment of Holocaust survivors

ComMetrics

_Compliance and enforcement

2011_01_18


2009-03-09 - Union Bancaire Privée (UBP), the second-biggest investor in hedge funds, on Thursday offered partial compensation to clients hit by $700m of losses from the Bernard Madoff fraud – as long as they waive the right to sue. Allegations that HSBC served as a major conduit for funding

2010-12-07- UBP agrees for a settlment of a lawsuit by mostly European clients that lost $400mio agreeing to pay up to US$500mio to Irving Picard the manager of bankruptcy proceedings for clients that lost in the Madoff ponzi scheme.

ComMetrics

_3 Why it matters – today„s 2 nuggets

1 What is compliance, governance and best practice?

2 How can one be compliant while still not follow the check-box mentality?

2011_01_18

>Introduction >Purpose >HowTo >Tools & Tips >Decision _Conclusions

ComMetrics

_One more thing

2011_01_18

3 most critical things we learned today

3 things I love to get more infos about

>Introduction >Purpose >HowTo >Tools & Tips >Decision _Conclusions

ComMetrics

2008_06_16

My.ComMetrics.comSession 9: Governance, risk and compliance

Presented by http://My.ComMetrics.com (free registration)

http://ComMetrics.com (blog)


social media trends 2011


ComMetrics blog checklist

Urs E. Gattiker , Ph.D.

Roentgenstrasse 49 Street

CH-8005 Zuerich Zip Code

Switzerland Country

+41(0)44 272 1876 Voice

+41(0)76 200 7778 Cell

[email protected] Google Talk

www.ComMetrics.com URL

http://my.commetrics.com/

http://commetrics.com/



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