AI in Financial Crime and Compliance: A Deep Dive with Oracle’s Jason Somrak

Innovation comes in many areas, and compliance professionals need to be ready for it and embrace it. Join Tom Fox, the Voice of Compliance, as he visits with top innovative minds, thinkers, and creators in the award-winning Innovation in Compliance podcast. In this episode,  host Tom Fox welcomes Jason Somrak, the Chief of Product and Strategy for Financial Crime and Compliance at Oracle. Jason elaborates on his professional background and his decade-long journey at Oracle. He delves into the transformative role of AI in combating financial crimes, exploring how AI has evolved from predicting false positives to using behavioral models and generative AI to enhance investigation processes. Their discussion touches on AI's potential to shift from detection to prevention, the impact of real-time AML, and the significance of automating noise in compliance investigations. They also discuss the importance of regulatory relationships and the emerging challenges in risk management. The episode concludes with insights into the future skills needed in compliance roles and the critical role of corporate culture in implementing AI solutions. Key highlights: AI’s Role in Financial Crime Prevention Proactive vs. Reactive Approaches AI in Investigations and Triage Emerging Challenges in Risk Management Future of AI in Compliance Skills for Next-Gen Compliance Officers Resources: Jason Somrak on LinkedIn Oracle Financial Services Tom Fox Instagram Facebook YouTube Twitter LinkedIn

Innovation comes in many areas, and compliance professionals need to be ready for it and embrace it. Join Tom Fox, the Voice of Compliance, as he visits with top innovative minds, thinkers, and creators in the award-winning Innovation in Compliance podcast. In this episode,  host Tom Fox welcomes back Gina Cotner, the CEO and founder of Athena Executive Services, to delve into crucial leadership topics relevant to the compliance community. The discussion covers root cause analysis (RCA), the importance of creating a culture of accountability, and effective delegation without abdicating responsibility. Gina emphasizes the significance of asking open-ended, curious questions, continuous coaching, and managing up for sustained organizational success. They also touch on the role of trust, psychological safety, and clear communication in enhancing team performance and leadership practices, making it a must-listen for compliance officers and corporate leaders. Key highlights: The Importance of Root Cause Analysis Creating a Culture of Accountability Effective Delegation Strategies Trust, Psychological Safety, and Communication Applying Strategies in Different Contexts Sustainable Leadership Practices Resources: Gina Cotner on LinkedIn Athena Executive Services Tom Fox Instagram Facebook YouTube Twitter LinkedIn LinkedIn Check out my latest book, Upping Your Game-How Compliance and Risk Management Move to 2023 and Beyond, available from Amazon.com. Innovation in Compliance was recently honored as the number 4 podcast in Risk Management by 1,000,000 Podcasts.

Innovation comes in many areas, and compliance professionals need to be ready for it and embrace it. Join Tom Fox, the Voice of Compliance, as he visits with top innovative minds, thinkers, and creators in the award-winning Innovation in Compliance podcast. In this episode, Tom Fox is joined by returning guest Carol Kaemmerer, author of ‘LinkedIn for the Savvy Executive.’ Carol shares valuable insights on how compliance professionals can leverage LinkedIn to build their personal brand and gain credibility with senior management. She introduces her Brilliance Framework, which includes strategies such as leading with authenticity, utilizing the rule of three for memorable branding, maximizing digital real estate, and emphasizing the importance of engagement. Tune in to enhance your LinkedIn strategy and make a lasting impression in your career. Key highlights: Building a Compliance Professional’s Brand Reframing Compliance Communication Introducing the LinkedIn Brilliance Framework Maximizing LinkedIn’s Digital Real Estate The Importance of Visuals on LinkedIn Engagement: The Gold of LinkedIn Resources: Carol Kaemmerer on LinkedIn Carol Kaemmerer ⁠Website LinkedIn for the Savvy Executive Second Edition The LinkedIn Brilliance Framework™: Amplify Your Professional Presence Tom Fox Instagram Facebook YouTube Twitter

Innovation comes in many areas, and compliance professionals need to not only be ready for it but also embrace it. Join Tom Fox, the Voice of Compliance, as he visits with top innovative minds, thinkers, and creators in the award-winning Innovation in Compliance podcast. In this episode, host Tom Fox concludes a two-part series with Brad Stevens, focusing today on the innovations of Outsource Access. Brad shares his insights on how fostering a sense of belonging and recognition among employees can lead to remarkable business success. Discover how Outsource Access is redefining the outsourcing industry by prioritizing employee growth, community engagement, and cultural fit. Key takeaways: – 🌟 The significance of recognizing employees as individuals, not just numbers.  – 📈 Growth initiatives like SOAR and Isof that empower employees.  – 🎉 Celebrating achievements through consistent and meaningful recognition.  – 🌍 Aligning company goals with the United Nations Sustainable Development Goals.  – 🤝 Ensuring client and employee cultural alignment for mutual success. Highlights: The Importance of Culture in Outsourcing Growth and Development Initiatives Celebration and Community Engagement Client Experience and Cultural Fit Consistency in Culture Implementation Connect with Outsource Access: 🔸 Outsource Access on ⁠LinkedIn⁠ 🔸 Outsource Access ⁠website⁠ 🔸 Brad Stevens on ⁠LinkedIn⁠ Resources: Tom Fox ⁠Instagram⁠ ⁠Facebook⁠ ⁠YouTube⁠ ⁠Twitter⁠ ⁠LinkedIn⁠ Check out my latest book, Upping Your Game-How Compliance and Risk Management Move to 2023 and Beyond, available from ⁠Amazon.com⁠.  Innovation in Compliance was recently honored as the number 4 podcast in Risk Management by ⁠1,000,000 Podcasts⁠.

Innovation comes in many areas, and compliance professionals need to not only be ready for it but also embrace it. Join Tom Fox, the Voice of Compliance, as he visits with top innovative minds, thinkers, and creators in the award-winning Innovation in Compliance podcast. In this episode,  host Tom Fox begins a two-part series with Brad Stevens. Brad is the Founder and CEO of Outsource Access, to discuss the transformative power of culture in outsourcing. Brad shares his journey from a product disaster to building a thriving business with over 500 employees in the Philippines. Discover how focusing on culture before scaling people has led to Outsource Access’s success and changed perceptions of offshoring. Key takeaways: – 🌍 Changing perceptions of outsourcing from sweatshops to growth opportunities. – 🤝 The importance of treating employees well to foster loyalty and growth. – 🌟 Building a people-centric business that prioritizes culture. – 📈 The impact of culture on business growth and client satisfaction. – 🏆 The ten pillars of culture that drive Outsource Access’s success. Key highlights: Changing Perceptions of Outsourcing The Journey of Outsource Access Building a People-Centric Business The Ten Pillars of Culture Commitment to Community and Employee Well-Being Connect with us: 🔸 Outsource Access on LinkedIn 🔸 Outsource Access Website 🔸 Brad Stevens on LinkedIn Resources: Tom Fox Instagram Facebook YouTube Twitter LinkedIn Check out my latest book, Upping Your Game: How Compliance and Risk Management Move to 2023 and Beyond, available from Amazon.com.

Innovation comes in many areas, and compliance professionals need to not only be ready for it but also embrace it. Join Tom Fox, the Voice of Compliance, as he visits with top innovative minds, thinkers, and creators in the award-winning Innovation in Compliance podcast. In this episode,  host Tom Fox visits with Corinna Hagen, a podcaster, author, business leader, and coach. Corinna shares insights about her transition from management consulting to founding her own coaching business, with a focus on leadership transformation and executive communication. She discusses the launch of her book ‘High-Stakes Communication Mastery for Leaders’ and her new podcast ‘the/SHIFT for Leaders.’ The conversation delves into effective communication strategies, building trust within teams, and the importance of self-awareness. Corinna emphasizes clarity in leadership and provides practical advice, including her ‘five by five’ reflection method to improve self-awareness and leadership effectiveness. Key highlights: Leadership and Compliance Effective Communication and Trust Building Navigating Conversations on Difficult Topics Addressing Diverse Audiences Digital Leadership and Talent Acquisition Strengthening Compliance Communications  Resources: Corinna Hagen on LinkedIn Zaradigm High-Stakes Communication Mastery for Leaders on Amazon.com Tom Fox Instagram Facebook YouTube Twitter LinkedIn Check out my latest book, Upping Your Game-How Compliance and Risk Management Move to 2023 and Beyond, available from Amazon.com. Innovation in Compliance was recently honored as the number 4 podcast in Risk Management by 1,000,000 Podcasts.

Innovation is present in many areas, and compliance professionals must not only be prepared for it but also actively embrace it. Join Tom Fox, the Voice of Compliance, as he visits with top innovative minds, thinkers, and creators in the award-winning Innovation in Compliance podcast. In this episode,  host Tom Fox visits with Lori Crooks, a seasoned professional in the field of cybersecurity and audit assessments, to discuss the evolution of auditing practices from physical infrastructure to cloud and AI. Lori shares insights from her extensive career, highlighting key federal compliance frameworks like NIST 800-53, FedRAMP, and NIST 800-171. Lori stresses the importance of proactive compliance strategies and scalable GRC programs. As AI integration accelerates, she also addresses the challenges of adapting compliance frameworks to keep pace with technological advancements and the need to foster collaboration within organizations to effectively meet regulatory requirements. Key highlights: Federal Auditing Frameworks Proactive Compliance Strategies Scalable GRC Programs AI and Compliance Landscape Future of Auditing in the Age of AI Resources: Lori Crooks on LinkedIn Cadra Tom Fox Instagram Facebook YouTube Twitter LinkedIn Check out my latest book, Upping Your Game-How Compliance and Risk Management Move to 2023 and Beyond, available from Amazon.com. Innovation in Compliance was recently honored as the number 4 podcast in Risk Management by 1,000,000 Podcasts.

Innovation comes in many areas, and compliance professionals need to be ready for it and embrace it. Join Tom Fox, the Voice of Compliance, as he visits with top innovative minds, thinkers, and creators in the award-winning Innovation in Compliance podcast. In this episode, Tom Fox interviews Robert Meyers, a cybersecurity and privacy expert with over 30 years of experience. Meyers shares his journey from starting in IT to becoming a prominent figure in cybersecurity, privacy, and M&A security. He recounts the evolution of cybersecurity from the 1980s to the present day, highlighting key lessons learned along the way. He discusses the philosophical divide between U.S. and European attitudes toward data privacy, the importance of a cross-functional approach to cybersecurity and privacy within companies, and how emerging technologies like agentic AI are reshaping the industry. He also shares insights from his new book, ‘Privacy Snippets for the Cybersecurity Professional,’ aimed at helping professionals bridge the gap between cybersecurity and privacy. Additionally, Meyers’s passion for Comic-Con offers a unique perspective on how creativity and community engagement can inform and enrich professional practices. Key highlights: Robert Meyers’ Professional Background Early Cybersecurity Challenges Evolution of Privacy and Security Roles and Responsibilities in Cybersecurity Agentic AI and Future Challenges Comic-Con and Personal Interests Advice for Aspiring Professionals Resources: Privacy Snippets for the Cybersecurity Professional on Amazon Robert Meyers’ Profile on Amazon Robert Meyers ‘on LinkedIn Tom Fox Instagram Facebook YouTube Twitter LinkedIn

Innovation comes in many areas, and compliance professionals need to be ready for it and embrace it. Join Tom Fox, the Voice of Compliance, as he visits with top innovative minds, thinkers, and creators in the award-winning Innovation in Compliance podcast. In this episode, Tom Fox interviews Inge Zwick, a senior leader from Emapta Global, a global outsourcing company, who elaborates on his experience working in different international locations, including the Philippines and now Italy. Zwick discusses the complexities and common concerns around outsourcing under GDPR, emphasizing the importance of compliance and data protection. They explain how Emapta supports clients in achieving GDPR compliance while outsourcing, including risk assessments, data flow mapping, and maintaining secure work environments. The conversation delves into the practical aspects of handling Subject Access Requests (SARs), the integration of compliance into operational workflows, and the importance of maintaining ongoing monitoring and updates. Zwick also touches upon how ESG initiatives and compliance are seamlessly woven into Emapta’s operations, providing a sustainable approach to global outsourcing. Lastly, advice is given to business leaders on how to future-proof their outsourcing strategies in light of GDPR, encouraging them not to shy away from global talent opportunities due to compliance fears. Key highlights: Company Overview and Global Operations Outsourcing and GDPR Compliance Risk Assessment and Data Security Subject Access Requests (SAR) Outsourcing Contracts and GDPR Obligations Integrating Compliance into Operations Future-Proofing Your Outsourcing Strategy   Resources: Connect with Inge Zwick LinkedIn Connect with Emapta Global Website LinkedIn Tom Fox Instagram Facebook YouTube Twitter LinkedIn

Innovation comes in many areas, and compliance professionals must be ready for and embrace it. Join Tom Fox, the Voice of Compliance, as he visits with top innovative minds, thinkers, and creators in the award-winning Innovation in Compliance podcast. Today, we conclude our 3-part podcast series sponsored by Diligent with Jessica Czeczuga, Amanda Carty and Neta Meidav In this Part 3, Tom is joined by Neta Meidav, Managing Director of Ethics & Compliance at Diligent for a dive into technology innovations at Diligent.     In this episode, Tom visits with Neta about her recent transition to Diligent following its acquisition of her GRC entity Vault. Neta discusses the strategic reorganization at Diligent that underscores their commitment to compliance technology, and how this alignment bodes well for the future of their technology. She also sheds light on the integration of AI within compliance solutions, exploring its transformative impact on risk prediction, investigation processes, and operational efficiency, while emphasizing the enduring importance of human expertise in ethical decision-making.   Key Highlights   ·      The Acquisition Journey ·      Role and Responsibilities at Diligent ·      AI and Compliance Technology ·      Predictive Risk and Future of AI in Compliance   Resources: ⁠Neta Meidav on LinkedIn ⁠⁠Diligent⁠   Tom Fox ⁠Instagram⁠ ⁠Facebook⁠ ⁠YouTube⁠ ⁠Twitter⁠ ⁠LinkedIn