Strategies for Compliance and Risk Management

For SEC-regulated firms, it's the quick and the dead. A continuous compliance cycle manages regulatory risk, protects data, and safeguards your reputation even though: 🔳 Technology is changing faster - AI is popping up almost everywhere - Demand for returns = latest tech is not negotiable - as-a-Service deployment models are the norm, making governance key 🔳 Regulatory requirements are complex and evolving quickly - Investment advisor cybersecurity rules are due soon - Some have already been hit with “AI washing” charges - Additional proposed AI rules layer on even more demands 🔳 The high cost of non-compliance are high - Investment advisors have been hit with “AI washing” charges - The SEC fined eight firms $750,000 for not having or following policies - One firm got fined $4 million for material nonpublic information mishandling Want to know how StackAware helps SEC-regulated clients deal with these risks? 1️⃣ Assign clear accountability If everyone is in charge, no one is in charge. Defining policy and procedure ownership is the key here. 2️⃣ Implement a continuous review process Yearly reviews aren’t enough to stay secure and compliant. Drive reviews based on: - Emerging risks - Business events - New compliance demands - Technological developments - “Regulation-by-enforcement” events 3️⃣ Leverage compliance-as-code PDF policies aren’t going to cut it. You’ll be dealing with: - Unclear references - Duplicative and conflicting documents - Painful change management and review meetings Use a single source of truth to drive your compliance program and reap the rewards. Define standards-focused “views” of your policies while still allowing for effective cyber risk management. 🏦 Bottom line Regulatory penalties will hit it directly - through fines - and indirectly - through reputation (and possibly cyber) damage. In 2024, continuous compliance is the name of the game. --- Need more tips at the intersection of AI, cybersecurity, and risk management? Head to my profile (Walter Haydock) and ring my bell 🔔!

Our client thought their training was working until they saw the data. Like many companies, they had a solid compliance program: annual trainings, mandatory videos, end-of-year quizzes. The usual checklist. But then they looked closer. - 90% of the content was forgotten within days. - Employees were skipping or rushing through. - Risky behavior like clicking unknown links was still happening. That’s when we helped them try something new. Real-time microlearning, triggered by behavior One day, an employee clicked on a suspicious link. Instead of a slap on the wrist or worse - silence, they got a quick, 90-second interactive lesson. Right then and there. No dashboards. No long modules. Just the right content, in the right moment. And it worked. ✅ Engagement went way up ✅ Retention improved dramatically ✅ Compliance gaps started shrinking Because people learn better when it’s relevant, immediate, and bite-sized. Training doesn’t need to be a calendar event. It can be a part of your culture. Embedded in real workflows. Invisible until it’s needed and unforgettable when it is. Our client now sees behavior change in real time, not in hindsight. And their people? They’re sharper, more confident, and less likely to click the wrong link again. Curious what this could look like in your org? Let’s talk about bringing learning to life, one click at a time.

I get lot's of DMs and emails from good folks asking if I can provide some simple guidance/advice for structuring an effective OIG Compliance Program. Structuring an OIG (Office of Inspector General) compliance plan involves several key steps: 1. **Risk Assessment/Gap Analysis**: Identify potential areas of risk within your organization related to fraud, waste, and abuse. This could include billing practices, coding errors, conflicts of interest, etc. This, however is the most critical part to taking the first step in building an effective compliance plan. 2. **Policies and Procedures**: Develop clear and comprehensive policies and procedures that outline expected behavior and compliance with relevant acts, statutes, rules, laws and regulations. Policies should also incorporate best practices and payor guidelines. 3. **Training and Education**: Provide regular training and education to employees on compliance policies, procedures, billing and coding guidelines, and relevant laws and regulations. This ensures that everyone understands their roles and responsibilities. 4. **Communication and Reporting**: Establish channels for employees to report concerns or suspected violations confidentially and without fear of retaliation. A non-retaliation policy is a must. Communication should be open and encourage reporting of compliance issues. 5. **Monitoring and Auditing**: Implement systems for ongoing monitoring and auditing of key compliance areas to detect and prevent potential violations. This could involve regular audits of billing practices, employee behavior, etc. 6. **Enforcement and Discipline**: Clearly define consequences for non-compliance and ensure consistent enforcement of policies and procedures. This demonstrates the organization's commitment to compliance and integrity. 7. **Continuous Improvement**: Regularly review and update the compliance plan to reflect changes in laws, regulations, and organizational practices. Continuous improvement ensures that the compliance plan remains effective and relevant over time. More importantly, it ensures your compliance plan is a living, breathing document and promotes a culture of compliance. By following these steps, healthcare organizations can establish a robust OIG compliance plan to mitigate risks and promote integrity and accountability within the organization.

𝗪𝗵𝗲𝗻 𝗰𝗼𝗺𝗽𝗹𝗶𝗮𝗻𝗰𝗲 𝗱𝗲𝗮𝗱𝗹𝗶𝗻𝗲𝘀 𝗯𝗲𝗰𝗼𝗺𝗲 𝘄𝗮𝗿 𝗿𝗼𝗼𝗺𝘀... And your team is scrambling to gather every document, approval, and audit trail in sight. It doesn’t have to be like this. Yet, for most teams, it feels like the battle is already lost. Why? Because they’ve been reactive instead of proactive. And it’s not just the IT team under pressure — it’s 𝗲𝘃𝗲𝗿𝘆𝗼𝗻𝗲. Compliance isn’t a department anymore. It’s a business-wide operation. Here’s the cold truth: The best way to avoid a compliance “war room” is to 𝗻𝗲𝘃𝗲𝗿 𝗹𝗲𝘁 𝗶𝘁 𝗲𝘀𝗰𝗮𝗹𝗮𝘁𝗲 in the first place. Here’s how to get ahead: 🔸 𝗔𝘂𝘁𝗼𝗺𝗮𝘁𝗲 𝘆𝗼𝘂𝗿 𝗰𝗼𝗺𝗽𝗹𝗶𝗮𝗻𝗰𝗲 𝘄𝗼𝗿𝗸𝗳𝗹𝗼𝘄 — using checklists, approval trackers, and audit reminders 🔸 𝗧𝗲𝘀𝘁 𝘆𝗼𝘂𝗿 𝘀𝘆𝘀𝘁𝗲𝗺𝘀 regularly for compliance readiness — don't wait for the deadline to arrive 🔸 𝗜𝗻𝘃𝗼𝗹𝘃𝗲 𝗲𝘃𝗲𝗿𝘆𝗼𝗻𝗲 𝗳𝗿𝗼𝗺 𝘁𝗵𝗲 𝘀𝘁𝗮𝗿𝘁 — make compliance a team sport, not just a regulatory task 🔸 𝗦𝘁𝗮𝗻𝗱𝗮𝗿𝗱𝗶𝘇𝗲 𝘆𝗼𝘂𝗿 𝗱𝗼𝗰𝘂𝗺𝗲𝗻𝘁𝗮𝘁𝗶𝗼𝗻 so you never have to scramble for files in a crisis 🔸 𝗕𝗿𝗲𝗮𝗸 𝗱𝗼𝘄𝗻 𝘀𝗶𝗹𝗼𝘀 between departments — let everyone share accountability 🔸 𝗦𝗰𝗵𝗲𝗱𝘂𝗹𝗲 𝗿𝗲𝗴𝘂𝗹𝗮𝗿 𝗿𝗲𝘃𝗶𝗲𝘄𝘀 to identify potential gaps in your processes It’s all about prevention. And prevention starts with 𝗽𝗹𝗮𝗻𝗻𝗶𝗻𝗴 and 𝘃𝗶𝘀𝗶𝗯𝗶𝗹𝗶𝘁𝘆. 𝗪𝗵𝗮𝘁’𝘀 𝘆𝗼𝘂𝗿 𝗽𝗿𝗼𝗰𝗲𝘀𝘀 𝗳𝗼𝗿 𝗽𝗿𝗲𝘃𝗲𝗻𝘁𝗶𝗻𝗴 𝗰𝗼𝗺𝗽𝗹𝗶𝗮𝗻𝗰𝗲 𝗽𝗮𝗻𝗶𝗰? Comment below — let’s compare notes. 🔔 𝗙𝗼𝗹𝗹𝗼𝘄 Kunal Patel for more insights on scaling and securing your operations ♻️ 𝗥𝗲𝗽𝗼𝘀𝘁 to help others build a proactive compliance strategy 💾 𝗦𝗮𝘃𝗲 𝘁𝗵𝗶𝘀 𝗽𝗼𝘀𝘁 to share with your team for better compliance collaboration #ComplianceManagement #RegulatoryCompliance #RiskManagement #ProactiveCompliance #DigitalTransformation #TechLeaders #BusinessStrategy #Cybersecurity #OperationsManagement #BusinessGrowth #ScalingSuccess #LeadershipTips #ComplianceStrategy #DarkConsultancy