Episode 2: How to use supervised Machine Learning to predict fraud

Join Dan & Phil as they guide you through the latest stories inside, and outside of Galvanize, cover the latest news, and discuss the value of preventative and detective controls.Links from the Show:Former Harvard Fencing Coach Charged in Admissions Bribery Case: Anti-bribery Group Praises U.S. Enforcement Against Foreign Bribery: The truth about the dark web fraud trade:Using Machine Learning To Predict And Detect Fraud:SEC Whistleblower Awarded $900,000 for Reporting Overseas Misconduct: Goldman Sachs reaches $3.3 billion resolution of Malaysia FCPA violations: Fraud Talk: Behind the Scenes of Wirecard's Billion-Dollar Accounting Fraud: An Avalanche of Fraud Buried a Small-Business Relief Program: Airbnb Reveals Potential Noncompliance of U.S. Sanctions:Kodak Says Ex-Executives Sold Stock Options They Didn’t Own:

Back for round two, Dan Zitting and Dan Clark discuss questions and feedback from last week's episode on internal auditing in a post-pandemic world—taking a deeper dive into the GRIP (Governance, Respond, Intelligence, Profiling) model. 

The global pandemic has dramatically shifted the way organizations look at risk, and auditors must be ready to adapt to the peripheral impacts that are yet to come. In this episode of Office Hours Dan Zitting sits down with Dan Clark—a consultant and former audit executive—to talk about practical ways to approach internal auditing in a post-pandemic world. They dive into how auditors can act now to enhance the rules of governance, evolve risk assessments to risk responses, and optimize people, processes, and technology to deliver faster intelligence. 

Understanding the "known knowns" of your third-party risk management program isn’t enough. But how do you surface the unknowns that are lurking in your organization? This week on Office Hours, host Dan Zitting is joined by Chris Murphey, Senior Product Manager at Galvanize. They discuss how to use what you know and don’t know to engage your entire organization in a more mature TPRM program. Chris also talks about the craziest third-party risk disaster he’s come across! 

From facility closures to social distancing rules, the way we physically interact with each other has changed. As organizations begin to reopen with restrictions, we need to think carefully about how we're monitoring physical security controls. This week on Office Hours, Dan is joined by Adam Habberley, who delivers data analytics solutions and enablement services to Galvanize customers. They share stories of some surprising security control fails—including what can happen when there's centralized access to all of your physical access data.

Inflated revenue, lawsuits, and resignations…This week on Office Hours, host Dan Zitting shares a story from his early days as a Big 4 auditor, working with a call center outsourcer that resulted in one of the the biggest financial misstatements he's ever seen. And even worse? The auditors missed it. Dan is joined by Kevin Leger, Director of Product Design at Galvanize, to discuss what happens when you’re reconciling bills, complex contracts, and raw data with unreliable applications and controls.

How can you prevent revenue-draining fraud, waste, and errors—especially when vendors, contractors, and employees are under increased economic pressure? This week, Dan is joined by Phil Lim, Senior Product Manager at Galvanize. They explore ways to use data analytics and continuous monitoring to find cash leaks fast. From Harvard tuition to football games, this episode's packed with real-world examples of fraud we've found in organizations.    

You don’t have to be a data scientist to create powerful machine learning models! This week on Office Hours, Dan is joined by Kevin Leger, co-founder of Office Hours and Director of Product Design at Galvanize. They talk machine learning—from a real-world example of busting fraud to the confusion matrix (which is actually quite simple to understand). You'll also learn how to start using machine learning to find and predict instances of fraud in your organization.

In this episode, Dan is joined by Laurie Schultz, President and CEO at Galvanize, as they talk through their real life experience managing the COVID-19 pandemic. Specifically, Laurie shares how she's keeping open, authentic communication with employees, and how technology is enabling the team at Galvanize to monitoring core business objectives to maintain and optimize operations during this pandemic.