The Compliance Files

In this weeks episode, Kathy Jacobs, former President of Compliance Institute speaks with Greta Koch, Policy Adviser and press officer to Axel Voss, MEP, European Parliament on the latest addition to Sustainability Regulation the Corporate Sustainability Due Diligence Directive CS3D. In this weeks episode, Greta describes how she became an advisor to Axel Voss in the European Parliament and her role. Greta explains where her interest in sustainability started. Greta discusses why the EU considered that an EU-wide supply chain due diligence legislation is required and what the process was for bringing the CS3D from a Proposal through to final approval. Greta explains what the changes were and why they were made and what the main provisions and the timelines of the CS3D are. Greta outlines what she anticipates will be the major challenges in the roll-out and implementation of CS3D across the EU and what she thinks will be the major challenges for in-scope organisations.

In this week’s episode, Kathy Jacobs, former President of Compliance Institute speaks with Dr Valerie Lyons, Chief Operating Officer of BH consulting on the value of Privacy above and beyond Data Protection. Valerie describes her own journey in Privacy and what inspired her and Todd Fitzgerald to write The Privacy Compass and also outlines what readers can expect from the book. Valerie outlines what the McKinsey 7-S Framework is, and why and how she utilised it in her Privacy Compass. Valerie explains ‘Strategy’s’ place in the 7S Privacy Compass and what good looks like. Valerie discusses ethics in privacy and describes what an ethical approach to privacy looks like. Turning to ESG, Valerie discusses in her book privacy as part of ESG – ‘ESGp’; Valerie explains this term and privacy’s place in ESG. Valerie discusses the three top skills required of a privacy leader.  Finally, Valerie provides her thoughts on the future for privacy – what the threats, challenges and also the opportunities are in privacy.

In this week’s episode, Kathy Jacobs, former President of Compliance Institute speaks with Maeve Monaghan, CEO, NOW Group on the topic of Purposeful Leadership. In this episode, Maeve take us through her career, up to her leadership of the NOW Group and  describes the values that she seeks to live as a leader. Maeve outlines what the NOW Group is and it's mission. Maeve delves into what purpose means to her and why it is important. Maeve outlines what her personal purpose is and the purpose of NOW Group is. Maeve describes how she brings her purpose to life in the NOW Group and how this helps with engagement with stakeholders. Maeve also goes through the publication of NOW Group’s social impact on their website and describes the importance of an organisation highlighting its social impact.

In this weeks episode, Kathy Jacobs, former President of Compliance Institute with Jessica Ramos, Head of Regulatory Oversight and Financial Affairs, EBA Clearing, to discuss the state of payments regulation in the EU today. In this episode, Jessica describes who EBA Clearing are and her role within the company. Jessica advises why she works in the payments industry and what she enjoys about the industry. Jessica outlines the current challenges and opportunities in payments and what role regulation plays in payments. Jessica paints a picture of the current payments EU regulation landscape and what challenges regulation has brought to the payments industry and the industry has responded. Jessica describes the role the customer plays in shaping the agenda for payments and what she sees the future holding for the industry.

In this week episode, Kathy Jacobs, former President of Compliance Institute and Chair of the Institute’s Sustainability Working Group speaks with Russell Burke, Regulatory and Strategic Payments Consultant, Juristic Ltd in relation to the Central Bank of Ireland’s Authorisation Process and how to navigate this process efficiently and to secure that Authorisation. In this episode, Russell outlines who needs an Authorisation and discusses the legal framework underpinning the Authorisations process. Russell also describes the common mistakes made by firms in making their application and the implications / consequences of these errors are. Russell advises how firms can set themselves up for success in this process. Russell explains if he foresees any changes to the Authorisation process and what developments he anticipates.

In this weeks episode of the Compliance Files Podcast, Kathy Jacobs, former President, Compliance Institute speaks with Ann Shiels, founder of sustainable finance regulatory firm, FinLexSus and Ann is also the Program Director for the Compliance Institute’s Professional Diploma in Sustainable Finance for Compliance Professionals delivered in partnership with the IOB. In this episode, we revisit a familiar topic, and that is ESG Sustainability. There is a language and vocabulary growing up around sustainability. So in this episode, we are taking a helicopter view by doing a stocktake on the regulation, and to explain some of the terms, acronyms to come to an understanding of the current position, and we will explore what does a Compliance Framework for sustainability look like. Since the podcast was recorded, the CSDDD has been endorsed by the European Council in March 2024.

In part 2 of our International Women's Day Podcast episode, Jacquie Ryan, Program Manger, PAT Business School and member of the Institute’s D&I Committee speaks with Claudette Whyte, Council Member and Chair of the Institute’s D&I Committee on the Gender Pay Gap, Imposter Syndrome, her career journey, her mentorship journey and how she achieves a work life balance. Jacquie also speaks with Peter Hession, Chief Risk Officer (CRO), TransferMate Global Payments on his experience of advocating for gender diversity and inclusion in the workplace, what has motivated him to become an ally. Paul also outlines what strategies he uses to ensure Women's voices are heard and valued in the decision making process. Peter and Claudette also discuss their ally ship experiences, mentorship experiences and also what initiatives organisations can do to to become more diverse and inclusive.

In advance of International Women’s Day on Friday 8th March, Jacquie Ryan, Program Manager, PAT Business School and member of the Institute’s D&I Committee speaks with Maria Walsh, Member of the European Parliament for Midlands-North-West Constituency - Fine Gael & EPP Group. On this week’s episode Maria discusses, the Gender Pay Gap, outlines financial security and STEM advances for women as mentioned in the EU Parliament Podcast, Pink Tax, the work being done on cyber-crime and effects on cyber-crime on women. Looking at Maria’s role in politics Maria advised how we can encourage women to work in politics or to seek leadership positions and gives advise on achieving a work life balance.

On this week’s episode of the Compliance Files Podcast series, Kathy Jacobs, former President, Compliance Institute speaks with Azariah Nukajam, Associate Director, fscom in relation to the current position in Ireland and describes the main themes or challenges encountered by her clients. Looking at the Consultation Papers, CPs 153 and 154, Azariah takes the Duty of Responsibility and outlines what this means, and how you would go about implementing it in practice. Azariah describes the challenges where a firms business model relies on outsourcing and gives her advice to anyone struggling with implementation at this point. Azariah details in her view, what the future for these regimes looks like.

On this week’s episode of the Compliance Files Podcast series, Kathy Jacobs, former President Compliance Institute speaks with Azariah Nukajam, Associate Director, fscom about what we can learn from the international accountability regimes. In this episode Azariah outlines where we are now in the process of rolling out the IAF regime and where in-scope institutions should be at this stage. Azariah then turns to the international perspective – countries that have accountability regimes implemented and takes us through a few of these regimes. Azariah advises on how these regimes have been regarded by industry in these jurisdictions and in her view what has been a successful regime. Azariah then outlines what enforcement she has seen in other jurisdiction and what firms can learn from the international roll out and experience.

In today’s episode of the Compliance Files podcast series, Kathy Jacobs, former President, Compliance Institute speaks with Rachel Finn, Director, Data Protection and Cyber-risk Services at Trilateral Research Ltd. and Zachary Goldberg, Ethics Innovation Manager at Trilateral Research Ltd on the topic of AI and Ethics. In this podcast they define AI, and what the risks, threats and benefits are. They take us through where we are at with AI regulation and in the absence of AI regulation what role does ethics play. They outline the ethical dilemmas someone designing an AI solution face could come across and they take us through how to go about making an ethical decision in relation to AI in a financial services context. They also look forward and describe the developments will we see in AI in financial services and in AI regulation.

In today’s episode of the Compliance Files podcast series, Siobhain Ivers, Senior Director, Deputy Chief Compliance Officer, Etsy and Chair of Compliance Institute’s Fintech and Payments Working Group speaks with Michelle McGuire, Head of Risk and Compliance, valid8Me, and Greg James, Senior Manager, fscom and Member of Compliance Institute’s Fintech and Payments Working Group on the topic of Careers in Fintech. In this podcast they outline what drew them to a career in Fintech and what advice they have for anyone thinking about breaking into a career in Fintech. They discuss what kind of qualifications help you in a Fintech career and the benefits of ongoing professional education and speak about their own educational journey. They also delve into the advantages and disadvantages of a career in Fintech and the advantages of networking and offer practical advice for networking. They also describe who has influenced their careers, the challenges that the industry is facing in the next 12-24 months and what is the best career advice that they have received  

In today’s episode, Kathy Jacobs, former President of Compliance Institute speaks with Andrew Murphy, Co-Founder of Coopman Search & Selection on the importance of ESG in Financial Services. Andrew outlines the ESG opportunities for financial services firms and how firms can realise their full potential of the ESG agenda. Andrews describes how important training and education is in ESG for professionals working in financial services and provides insights into what is happening in the market in relation to ESG career opportunities. Andrews talk to us about the role of the Chief Sustainability Officer (CSO) - what is it and where it sits in an organisation. Andrew explains how firms can further demonstrate that they are embracing sustainability and embedding the obligations. Andrew also looks to the future and advise what he sees as the evolving role of the compliance professional in ESG and indeed the evolving role of the sustainability team and CSO. Andrew also describes how Coopman as a BCorp Certified Company is committed to using business as a force for good, advocating for companies to begin their B-Corp journey, so they too may ensure that they meet the highest standards of verified social and environmental performance, public transparency, and legal accountability.

In today's episode, host Kathy Jacobs, former President of Compliance Institute speaks with Barry Rojack, Head of Regulatory Compliance and Risk (Banking) SalesSense International to discuss Outsourcing from the view of an outsourcer providing support to regulated banks and financial services entities. Barry outlines his career journey at the Central Bank of Ireland and regulated firms and the challenges and the similarities and differences in working in a regulated environment and in an Outsource Service Provider (OSP). Barry delves into what the drivers of outsourcing to an OSP are, and what compliance, conduct and risk concerns can arise and also describes what factors regulated financial services providers should take into account when choosing a provider for their outsourced services. Barry defines what a successful OSP relationship looks likes and how firms can successfully address issues in the relationship. Barry provides his insights into the importance of ESG in the OSP value chain and what he sees as the main developments in the short to medium term in outsourcing.

In this week’s episode of the Compliance Files Podcast Series, host Kathy Jacobs, former President of Compliance Institute speaks with Seán O’Driscoll, Associate Director, Risk Management and Internal Audit, Financial Services Advisory at Grant Thornton Ireland on the topic of Outsourcing and its associated risks.  In this episode, Seán defines what outsourcing is and how does it differs from other third party relationships. Seán also takes us through the typical lifecycle of an outsourcing arrangement and the various regulator’s evolving concerns and responses. Seán outlines the current regulatory framework for outsourcing including the Central Bank of Ireland's expectations. Seán describes the key risks that outsourcing presents and advises how important risk assessments are in managing outsourcing risk and the main challenges in managing outsourcing risk. Seán provides an insight into is the role of the Board in outsourcing and what developments to look out for in the short to medium term in outsourcing and describes the main themes and takeaways for Compliance Professionals overseeing outsourcing regulatory risk in their firm.

Operational Resilience is placing obligations on firms to be prepared for disruptive events in order to recover quickly and reduce harm to customers and the market.  In this episode of the Compliance Files Podcast series, host Kathy Jacobs, former President of Compliance Institute speaks with Will Finn, Senior Manager, fscom on the topic of Operational Resilience. Will outlines why regulators are focusing on Operational Resilience now and gives advice on what Financial Services firms have to do and describes and takes us through the steps of what an Operational Resilience programme is.

In today’s episode, Kathy Jacobs, former President of Compliance Institute speaks with Chris Martin, Of Counsel, Financial Regulation and Compliance, A&L Goodbody and Chair of Compliance Institute’s Central Steering Committee on the topic of DORA and Chris gives us an understanding about the regulatory framework around operational and IT resilience. Chris outlines the backdrop to regulating for IT and operational resilience and provides an overview of how has the regulation developed and sets out the current legal framework. Chris also advises if the Central Bank has conducted any inspections or other regulatory or supervisory interventions and what have we learnt from enforcement action in this area. Chris takes us through the are the sanctions at the regulators disposal and also looks to the future and what developments can we expect from in the short - medium term.

In today’s episode of the Compliance Files podcast series, the Institute’s President, Diarmuid Whyte speaks with Louise Hogan, member of the Institute's IAF and Fintech and Payments working groups and Sarah Geraghty, member of the Institute’s IAF and Pensions working groups to discuss the Individual Accountability Framework (IAF) in general terms whilst also touching on some of the key aspects of the Compliance Institute’s response to the IAF Consultation Paper. In this podcast they outline the benefits of IAF and provide their thoughts on whether it will lead to a positive cultural change. They also outline the steps firms should be taking now, identify potential challenges associated with IAF implementation and advise how we can demonstrate clarity over responsibilities.

To mark the 5th Year anniversary of the implementation of GDPR, Steven Roberts, Vice-Chair of the Compliance Institute’s Data Protection & Information Security Working Group speaks with MB Donnelly, Deputy Commissioner at the Irish Data Protection Commission, as Head of Strategy, Finance, Governance to discuss GDPR from it’s initial implementation to today and what is next for GDPR. In this episode, MB discusses the main benefits of GDPR and her view as to whether companies’ approach to GDPR has changed over the last five years. MB also provides insights into the DPC’s own supervisory approach, the DPC’s Regulatory strategy and outlines some of the key changes within the DPC over the last five years. MB also offers insights into how she see’s Regulation evolving over the next five years.

In this episode, host Kathy Jacobs speaks with Rachel Dolan, Head of Procurement and Supplier Relationship Management, Permanent TSB. Rachel describes the value add of procurement and how procurement supports organisations to achieve its strategic objectives. Rachel highlights the importance of an effective relationship between Procurement and Compliance teams. Rachel also discusses what role procurement will play in ensuring organisations successfully achieve their ESG objectives and discusses upcoming developments over the short and medium term for procurement and regulation.