Zoë Routh Leadership Podcast

324 Navigating the future: Compliance, leadership and ethics

08.22.2023 - By Zoë RouthPlay

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Tom Fox is literally the guy who wrote the book on compliance, with his international best seller The Compliance Handbook now into its third edition. Also going by the monikers of Compliance Evangelist™ and the Voice of Compliance, Tom is unequivocally committed to compliance!  In my conversation with Tom we delve right into the compliance landscape and its impact on leadership. We move from macro to micro issues, encompassing ethical business practices, the relationship between compliance and remuneration, the push for ESG, to international affairs, global trade practices and the role of technology in enabling transparency and accountability. From contingency planning to consistency of approach, the tentacles of compliance reach much further than even I imagined!   Shownotes See more at http://www.zoerouth.com/podcast/leadership-compliance-tom-fox Key Moments  Planet Human: The Future of Food [00:00:31] Planet Zoë: Running and Gratitude [00:01:17] Compliance and leadership  [00:03:48] Meet Tom Fox, a compliance expert The importance of compliance training [00:11:26] The purpose of compliance training and the need to communicate corporate expectations and enforce ethical business practices. Prevalence of bribery and corruption [00:16:05] The global economic impact of bribery and corruption, estimating £3 trillion annually lost to the global economy. Preparing for black swan events [00:18:42] Black swan events are unforeseen or unprepared-for events and businesses need to have processes and procedures in place for business continuity. Business changes after the invasion of Ukraine [00:24:46] Exploration of the five ways in which business has changed following the invasion of Ukraine, including supply chain disruptions and changes in anti-corruption and cybersecurity measures. ESG and its impact on business [00:26:59] Explanation of how the Russian invasion of Ukraine strengthened the importance of environmental, social, and governance (ESG) values in business and consumer behaviour. The future of trade and cybersecurity [00:34:41] A look at the reshoring, regional trade zones, cybersecurity attacks, and physical security issues in China and Russia. Trade embargoes and market diversification [00:36:23] Talks about the trade embargoes imposed by China on Australian products and the need for market diversification. The power of ChatGPT and leadership advice [00:38:59] Explores the use of ChatGPT for information retrieval and the importance of resilience and learning from mistakes in leadership. Why Corporate Compliance Function Should Exist Separately [00:47:11] Explanation of the importance of having a separate compliance programme within an organisation for regulatory purposes.  

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