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People on the Move: January 2018

Loss Prevention Media -

Professional advancement and building a successful loss prevention career can mean many things to many different people. For some individuals, it may mean reaching a top leadership position at a particular company, perhaps serving as a director or vice president of loss prevention/asset protection. For others, it may involve gaining experience in multiple professional fields in order to establish a unique and versatile role that capitalizes on all of our various skill sets.

Some aspire to be the best at a particular skill or discipline, building a base of knowledge and expertise that sets us apart from the rest. There are those who strive to leave a professional legacy, leaving a lasting mark on the present and future of the loss prevention industry. And there are still others who simply want the recognition that comes with reaching a particular level of performance and the security that it provides.

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There are many different ways to evaluate our career vision and professional aspirations. But what is most important is that we find the path that fits us best. We need to fashion and follow a professional development plan that leads us forward and builds our future. Especially when involved in a profession that is evolving as quickly as retail loss prevention, career growth is essential to professional survival. Whatever our professional goals and aspirations might be; whatever skills and experiences have helped forge our personal loss prevention career path, we have to find and seize the opportunities to learn, grow, and progress.

All of us throughout the loss prevention community are proud of the accomplishments of those that have worked hard and earned a new place along the loss prevention career path. Please join us in congratulating the following individuals on their recent career moves and promotions.

January 2018

 

Jim Mires has been named vice president of loss prevention and safety at Sally Beauty Click here to learn more

Oksana Montvydiene was promoted to analytics manager global corporate security & asset protection at Ralph Lauren

Sharon Nawrocki Paige LPC was promoted to ecommerce fraud manager at Follett Higher Education

Courtland Greer is now a regional loss prevention manager at Amazon

Sheldon Carlson is now a zone asset protection manager at Rent-A-Center

Jennifer Ochs is now an organized retail theft investigator at Weis Markets

Mike Reilly is now an area loss prevention manager at Bed Bath & Beyond

Tony Leon was promoted to regional assets protection manager at CVS Health

David L. Maxim Jr. LPQ, CCFI was promoted to area loss prevention investigator at Sephora

Ed Van Allen was promoted to regional director of asset protection at Ocean State Job Lot

Steve Hewitt was named head of loss prevention at Waitrose (UK)

John O. Nicholson is now a regional loss prevention manager at Nordstrom

Derek McCarthy was named director of loss prevention at MadRag/10Spot

Mike Limauro, LPC named senior director of asset protection at Whole Foods Market  Click here to learn more

Tina Sellers has been named director of asset protection at Retail Business Services

Michael Tortorici is now a regional asset protection manager at Hannaford

Michael LaCroix has been named director of asset protection at Food Lion

Walt Hall, LPC was promoted to Director of Loss Prevention & Safety at Office Depot  Click here to learn more

Lea Tamarack, CFI is now a regional asset protection manager at Weis Markets

Claire (Birchall) Bouzane was promoted to organized external theft investigator at The TJX Companies

Nancy Orozco is now a regional loss prevention representative at adidas

Filiberto Arroyo was promoted to asset protection district manager-IT at RiteAid

Bobby Sydnor was promoted to director of asset protection at HD Supply Facilities Maintenance

Kennarios Kirk is now an area loss prevention manager at Ross Stores

Shelley Grant was promoted to senior manager of assets, analytics and insights at CVS Health

Vince Giacinto, CFI was promoted to regional asset protection manager at Goodwill Industries of Southeastern Wisconsin

Adrian Rivera is now a regional asset protection manager at Whataburger

Zachery Erb is now a district asset protection manager at Weis Markets

Damien Barne was promoted to head of profit protection at Compass Group (UK & Ireland)

Diana Workman, CPhT is now an asset protection district manager at Walgreens

Joseph Wojcik is now a senior investigator at Pappas Restaurants

Rocco Speziale, LPC was promoted to director of asset protection, home services at Sears Holdings Corporation

Ryan Waldow is now a regional loss prevention manager at Family Dollar

Romeo Acevedo, LPQ is now corporate loss prevention specialist at Guitar Center

Sean Trepiccione was promoted to distribution safety and risk manager for Ollies Bargain Outlet

Brian Csorba, CFI was promoted to director of loss prevention at T-Mobile

David Broom, CFE, CFI, LPC was promoted to director of loss prevention at T-Mobile

Erik Buttlar has been promoted to vice president of asset protection at Best Buy  Click here to learn more

 

To review the December 2017 “People on the Move” click here.

Many of the loss prevention / asset protection career moves and promotions are reported to us by our career advisor partners. We are grateful for their collective efforts and diligence in delivering this information. If you would like to provide information pertaining to a recent promotion or career move that is not listed below, please email submissions to peopleonthemove (at) lpportal (dot) com.

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Regulators Slap Banks, MSBs and Card Club with AML Violation Penalties

Corruption, Crime & Compliance Blog -

Financial institutions face enormous pressures with respect to anti-money laundering compliance.  These burdens are about to grow with implementation of customer due diligence rules.  In 2017, federal and state regulators stepped up AML enforcement.  Here is a quick rundown of some of the enforcement actions:

Citibank paid a $70 million penalty  to the Office of the Comptroller of the Currency (here) for violating its 2012 consent order relating to Bank Secrecy Act and AML deficiencies.   The original 2012 order found that Citibank failed to file suspicious activity reports (SARs) and conduct customer due diligence and enhanced due diligence on accounts.  Citibank’s BSA/AML function missed systemic deficiencies identified by the OCC during the examination process.

Merrill Lynch paid $26 million, half to the Securities and Exchange Commission (here), and half to the Financial Industry Regulatory Authority (here), for failing to detect and report suspicious banking activity involving billions of dollars in transactions.  Merrill’s AML system and its parent Bank of America’s system failed to identify suspicious activities of high-risk customers.

In particular, FINRA noted that Merrill and Bank of America failed to link accounts with common owners between the institutions.  The SEC specifically cited Merrill’s failure to exclude transactions of more than $22 billion in retirement and managed accounts and accounts involving securities-based loans from its AML monitoring system.  In 2013, these omitted accounts registered 2.5 million transactions that were not monitored.

The SEC also noted that Merrill excluded approximately 12 million transactions involving $105 billion to and from Merrill accounts via checks, ATM withdrawals, cash deposits, wires and ACH transactions.  As an example, the SEC noted that Merrill’s San Diego branch had unreported suspicious transactions, including patterns of large currency deposits through ATMs to off-shore company accounts where there was no apparent business reason for such deposits; accounts that moved large, even-dollar funds through transactions involving third-party institutions in high-risk jurisdictions; and customers withdrawing currency via debit-card cash advances and ATM withdrawals in an apparent attempt to circumvent reporting requirements.

Wells Fargo paid a $3.5 million civil penalty to the SEC (here) for failure to file suspicious activity reports (SARS) with FinCEN.  The SEC maintains an ongoing monitoring program focused on broker-dealers and their compliance with SARS filing requirements.  Broker-dealers are required to file SARs with FinCEN when, FinCEN requires SARs filings within 90 -120 days of a pattern of suspicious transactions.  Wells Fargo implemented changes to its SARs system and eliminated “continuing activity” review, and instead insisted that a SAR required proof of illegal activity.  As a result, the number of filed SARs fell and relevant notes were not maintained about activity.

California Card Club, Artichoke Joe’s, paid FinCEN $8 million penalty (here) for failure to implement and maintain an effective AML program and failed to detect, deter and report suspicious transactions. In addition, FinCEN determined that Artichoke Joe violated reporting requirement under Section 1021.320 of the BSA by blindly ignoring loan sharking, suspicious transfers of high-value gaming chips and criminal activity occurring in plain sight.

The Loan Star National Bank, a private bank operating in Texas, paid FinCEN a $2 million penalty (here) for violations of BSA and AML monitoring programs.  Lone Star failed to follow due diligence requirements when establishing and conducting its correspondent bankin relationship with a Mexican bank. As a result, the Mexican bank moved hundreds of millions of US dollars through suspicious cash shipments.

Loan Star failed to identify public information regarding the owner of the Mexican Bank; to verify the correspondent bank’s description of the source of funds or purpose; to investigate inexplicable justifications of the source of US dollars and unusual wire transactions and cash transactions. Finally, FinCEN found that Lone Star failed to institute an adequate AML monitoring program to file SARs reports for high-risk accounts and customers.

Deutsche Bank paid a $41 million penalty to the Federal Reserve Board (here) for AML deficiencies.  Specifically, Deutsche Bank’s monitoring program prevented it from properly assessing BSA/AML risks involving billions of dollars in potentially suspicious transactions for affiliates in Europe.

BTC-e a/k/a Canton Business Corporation, one of the largest digital currency traders, was assessed a $110 million civil penalty, and Alexander Vinnik was assessed a $12 million civil penalty by FinCEN.  (Here). BTC permitted users to trade in bitcoin with anonymity, and had numerous customers that used the exchange to facilitate criminal activity and launder proceeds.

A parallel criminal indictment was unsealed at the same time in the Northern District of California.  (Here).  BTC was an unregistered money service business.  BTC was noted for its role in numerous ransomware and other cyber-crime activity.  Vinnik is a notorious criminal involved in theft of identities, facilitated drug trafficking and helped to launder proceeds from syndicates around the world.  Vinnik allegedly received funds from the infamous computer hack of Mt. Gox, a digital currency exchange that eventually failed.

In addition to federal enforcement efforts, the New York Department of Financial Services continues to make its mark in AML regulatory and enforcement actions.

Habib Bank, Pakistan’s largest bank, paid the NYDFS $225 million for failure to comply with AML laws and regulations at the bank’s New York branch.  (Here)  Habib Bank also agreed to surrender its license to operate the New York branch.  Habib Bank’s facilitated billions of dollars of transactions with a Saudi-bank with reported links to Al Qaeda, allowed at least 13,000 transactions to flow through the branch with omitted information, and used a ‘good guy’ list to enable at least $250 million in transactions with an identified terrorist, international arms dealer, and other potentially sanctioned entities and persons.

Deutsche Bank paid the NYDFS a $425 million fine for violations of New York AML laws relating to “mirror trading” schemes among the bank’s Moscow, London and New York offices that laundered $10 billion out of Russia.  (Here).  According to the NYFDS , the offsetting transactions among the banks were not justified by any business purpose.  The NYFDS enforcement action was coordinated with the UK’s Financial Conduct Authority.

Deutsche Bank failed to monitor the trading scheme which involved purchase of Russian stocks with rubles, and a related counterparty sale of the same stock in the same quantity at the same price.  The counterparties were closely related, linked by beneficial owners, management or agents, and paid for in US dollars from an offshore territory.

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Jim Mires Named Vice President of Loss Prevention and Safety at Sally Beauty

Loss Prevention Media -

Jim Mires has been named vice president loss prevention and safety with Dallas area-based Sally Beauty. Mires is the former vice president of store operations for Town Shoes, the Canadian division of DSW. He was also the former vice president of loss prevention with DSW. He has also held loss prevention positions with Pottery Barn, Gap/Old Navy, and Six Flags Theme Parks.

Sally Beauty Holdings, Inc. through its affiliates is the world’s largest distributor of professional beauty supplies.

 

Congratulations Jim!

 

Information provided by our partners at Loss Prevention Recruiters

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Breaking News in the Industry: January 15, 2018

Loss Prevention Media -

Woman charged with armed robbery after holding up stores with stun gun

A 23-year-old woman was charged Saturday with armed robbery after she was accused of holding up at least three stores with a stun gun, Chicago police said. T’Keyah Herbert was charged with armed robbery, aggravated assault and retail theft over $300, police said. The charges stem from three incidents that happened between Dec. 26, 2017, and Jan. 10. About 8 p.m. Dec. 26, Herbert entered a department store in the first block of South State Street, grabbed merchandise from the display and fled without paying, police said. She went back to the same location shortly before 3 p.m. Tuesday, armed with a stun gun. When she was confronted by security, Herbert left the stun gun and fled the store, police said. About 3:15 p.m. the next day, Herbert went to a store in the 1500 block of North Clybourn Avenue and got into an argument with employees before pulling out a stun gun and threatening them. She then grabbed merchandise and fled, police said. She was arrested Thursday shortly before 7 p.m., police said. Herbert was scheduled Saturday to appear at a bail hearing, where she was released on a signature bond. [Source: Chicago Tribune]

Two arrested in what appears to be nationwide ID theft ring

Local police believe they’ve helped crack a national identity theft ring after arresting two Philadelphia men outside the Tilton Lowe’s store, waiting to cart away plenty of stolen merchandise Thursday.

Store officials first reported to Tilton police Thursday morning that a large phone pick-up order of some appliances appeared to be fraudulent. They told police the person with the credit card who had placed the order from outside New Hampshire denied having anything to do with the purchase.

 About noon time, police said the men arrived at the store, located at 49 Lowes Drive, in a rented U-Haul van to pick up the order.

Inside the van, police recovered numerous gift cards with stolen credit card information and a large number of stolen identities.

Police officials said this appeared to be a stolen identity and gift card theft ring that moved from state to state. 

Tilton detectives decided this was sufficient evidence to arrest the two in the van on charges of identify fraud and criminal liability for another.

 Kyseem Tyhee Hawkins, 22, and Charles Roshek Gibbs Jr., 23, both of Philadelphia, were arraigned Friday at Belknap County Superior Court Friday. They each remain held on $50,000 cash bail.

Tilton Police Chief Robert Cormier said a search uncovered many victims from New Jersey to California and the theft clearly amounted to thousands of dollars in many states.

“I could easily see 50 or 60 victims on the list,” Cormier said.

 The U-Haul van with Arizona plates was impounded as evidence and the case remains under investigation.

Anyone with information about this matter or these men is urged to call the Tilton police detectives at 286-8207, ext. 210, or 286-4442.
 [Source: NH Union Leader]

Woman accused of theft from employer

A Greenfield, New York, woman was arrested on a grand larceny charge for allegedly stealing more than $1,000 from the store where she worked, police said. Tanya M. Blowers, 29, of Middle Grove, was accused of stealing more than $1,000 from the Hannaford store where she worked over a two-month period, ending earlier this month, according to the Saratoga County Sheriff’s Office. Blowers was charged with fourth-degree grand larceny, a felony, and released pending prosecution in Milton Town Court. [Source: The Post News]

Business owner accused in retail theft ring

The Wakulla County Sheriff’s Office says a Crawfordville, Florida, business owner has been arrested, accused of running an elaborate retail theft operation. Following an investigation, on Thursday, deputies arrested Sylvia Pritchard, the owner of Wakulla Gold Buyers, LLC. and Lighthouse Lady Cleaning Service, Inc. WCSO says the investigation began after the thefts of multiple bicycles from the Walmart in Crawfordville, during which a suspect was captured on surveillance video. Detectives with the Criminal Investigations Division reviewed the video footage, took screenshots of the thief, and posted them to Facebook. With the assistance of Wakulla County citizens, the thief was identified. Detectives also identified three other individuals who assisted with the theft. WCSO says, during an interview, the suspects admitted to participation in these crimes and explained Sylvia Pritchard’s alleged role in the thefts. WCSO says,  “The investigation revealed that this bicycle theft was not a “typical” retail theft; rather, it was one of multiple retail thefts committed by an organized cadre of thieves working in conjunction with one another on behalf of Sylvia Pritchard.

“During an investigation, detectives determined that Pritchard had organized the theft of numerous items from multiple businesses. Investigators say Pritchard would provide a “shopping list” of items to be stolen to one of multiple thieves, who would then steal the items and deliver them to Pritchard. Pritchard would allegedly determine what the retail price was for the stolen item by scanning the bar code with an app on her cellphone, then compensate the thieves in cash with half of what the retail price would have been for the stolen items. During her arrest, investigators also obtained a search warrant for Pritchard’s residence on Bettywood Circle in Crawfordville. During the search, investigators recovered and seized numerous items they say were obtained as part of the theft scheme, including four bicycles, a Disney Cinderella 24-volt kids electric car valued at $398, household supplies, pet food, portable electronic hardware, and personal hygiene products. Pritchard’s daughter, Starla Brooke Pritchard, was also arrested on an outstanding warrant for violation of probation. Richard is charged with one count of organized dealing in stolen property and three counts of dealing in stolen property, all felony charges. Pritchard and her daughter were both booked into the Wakulla County Jail.  [Source: WCTV News]

Retail theft trio allegedly targeted retail stores

A 19-year-old Oakland Gardens NY woman, and two New York males who are considered juveniles by age, were arrested Monday and charged by North Coventry police with identity theft, theft by deception, and access device fraud after they allegedly used fraudulent credit cards to buy merchandise at the Kohl’s department store in Coventry Mall, West Schuylkill Road. A Kohl’s loss prevention team reported the alleged crimes to the police on Dec. 13, when the holiday shopping season was in full swing. It identified an Asian female, Fan Yang, and the juveniles – whose names were not released – as having used the Kohl’s cards to illegally obtain merchandise of significant value.

The police department website stated Yang allegedly purchased goods valued at about $409; one of the juveniles obtained merchandise valued at $1,129; and the second bought goods valued at about $485. The trio wasn’t caught in the township, however, or by township police. The three instead traveled to Warminster Township, Bucks County, and arrived at another Kohl’s. They were nabbed by Warminster police, the North Coventry department reported, and were arrested there on additional charges as well.  [Source: Potts Town Post]

Walmart to close 63 Sam’s Club locations; lay off thousands

Walmart unexpectedly announced it is closing 63 Sam’s Club locations across the U.S., potentially impacting up to 11,000 workers, Business Insider reports. According to Business Insider, many employees were unaware of the store closures until showing up for shifts to closed stores with notices on the doors. Employees at other locations were sent away by police. “After a thorough review, it became clear we had built clubs in some locations that impacted other clubs, and where population had not grown as anticipated,” Sam’s Club CEO John Furner says in an email sent company-wide Jan. 11. “We will be closing some clubs, and we notified them today.” In his email, Furner says some of the closed locations will be turned into e-commerce fulfillment centers. Business Insider reports that employees whose positions were eliminated by store closures will have the opportunity to apply for jobs at the centers. The company didn’t say how many employees would be impacted by the closures.
[Source: Hardware Retailing]

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Armed Robbery Suspects in Fatal Officer-Involved Shooting ID’d

Loss Prevention Media -

Edward Mitchell, 21, Curtis Watkins 25, and Vincent Harvey, 21, all residents of Palmdale, CA, were arrested on a slew of charges, including armed robbery, kidnapping, and deputy-involved Shooting. The name of the deceased adult black male is being withheld pending identification and notification of next of kin, officials said. It happened at about 8:00 pm, when deputies from the Victorville Police Department were advised of an armed robbery that had just occurred at a Verizon Wireless retail store (A Wireless).

Officials said the suspects entered the cell phone retail store, three of them were armed with handguns and forced the victims to move from one area of the store to another by gunpoint. An estimated $80,000. – $100,000 worth of merchandise was stolen. Deputies located the suspect vehicle, a black Jeep Cherokee in the unincorporated area of Adelanto and attempted to conduct a traffic stop.

“The suspects failed to yield, and a pursuit ensued with the suspects traveling recklessly on various highways at high rates of speed, and at times, on the wrong side of the road,” sheriff officials said in a news release. During the pursuit, the suspects were seen throwing items outside the vehicle onto the roadway.

The pursuit terminated after deputies initiated a pursuit intervention technique. “Shortly after that, a traffic collision occurred between the deputy and suspect vehicles, at which time the pursuit terminated, and a deputy-involved shooting occurred.  A suspect was struck by gunfire and pronounced deceased at the scene,” stated the release.

Mitchell, Watkins, and Harvey fled into the surrounding neighborhood and were subsequently located and arrested without incident.  “Investigators did locate evidence inside the vehicle at the termination of the pursuit confirmed to have been stolen during the robbery,” officials said. Anyone with information regarding this investigation should contact Detective James Williams at (909)387-3589.  Callers wishing to remain anonymous are urged to call the We-tip Hotline at 1-800-78-CRIME (27463), or you may leave information on the We Tip Website [Source: Victor Valley News ]

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Day 15 of 31 Days to a More Effective Compliance Program-How Do You Evaluate a Risk Assessment?

FCPA Compliance & Ethics -

After you complete your risk assessment, you must then translate it into a risk profile, as Rick Messick has noted, to estimate where bribery is likely occur, so prevention efforts will be properly targeted. Ben Locwin explained, in “Quality Risk Assessment and Management Strategies for Biopharmaceutical Companies”, “Once we have assessed risks and determined a process [...]

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Tyco Retail collaborates with Google Cloud to power new store solutions for digital transformation

Loss Prevention Media -

Tyco Retail Solutions today announced it is collaborating with Google Cloud to strengthen its market leadership in next generation real-time analytics and store execution and performance solutions. Google Cloud Platform provides a future proof infrastructure with global scale, security and high performance for Tyco Retail’s world-class global retail customers.

The adoption of the Google Cloud Platform signals Tyco’s commitment to the evolution of its solution platforms for the development and deployment of its next generation of retail analytics and store solutions. Tyco Retail and Google Cloud will collaborate to deliver use cases marrying real-time edge intelligence and decision-making with core cloud computing.

The initial phase of the partnership integrates Tyco’s real-time data intelligence and application capabilities across store inventory, loss prevention and traffic on the Google Cloud Platform for fast, consistent, scalable performance and measurable retailer value. This integration will provide retailers with a real-time view into accurate inventory availability for unified commerce fulfillment as well as in-store traffic data and insights for improved customer engagement. The new Google Cloud-based service for store shrink management enables retailers to enhance productivity, and increase reliability and performance of EAS systems for a new generation of innovative loss prevention. In addition, retailers will be able to incorporate external market, customer and retail data from Google Analytics and Tyco into the new extensible analytics platform for unmatched retail insights.

The Google Cloud Platform provides a highly flexible infrastructure with state of the art security and data protection. It allows for simple deployment, rapid development and cost effective use. Tyco Retail will tap into Google Cloud’s big data and machine learning solutions to build better products and fuel amazing new solutions.

“We are excited to partner with Google Cloud and offer retailers our highly predictive analytics and innovative solutions through leading edge technology with the Google Cloud Platform,” said Amin Shahidi, vice president of strategy, Tyco Retail Solutions. “With best-in-class people, processes and technologies together we can deliver cutting edge insights for strategic retail outcomes.”

This innovative collaboration is currently being demonstrated at the National Retail Federation (NRF) 107th Annual Convention & EXPO at the Jacob K. Javits Convention Center in New York City. Visit booth #3103 from January 14-16 to see firsthand how Tyco Retail Solutions is helping retailers “Experience What’s in Store.”

 

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Tyco Retail Solutions to incorporate new data into ShopperTrak Analytics for holistic view of in-store shoppers

Loss Prevention Media -

Tyco Retail Solutions today announced a new program for select retailers to incorporate shopper data into its ShopperTrak traffic analytics platform. This includes store visitor insights at the audience level from Facebook and additional empirical data from other sources. Connecting shopper preferences and insights from third party sources with store level traffic data will enable retailers to better understand key characteristics of shopper groups to help drive sales conversion and an improved customer experience.

Brick-and-mortar retailers can now better understand shopper audiences in combination with in-store traffic patterns. Insights from this new data enables retailers to tailor their marketing and merchandising strategies to more effectively deliver on the promise of a seamless unified commerce experience. Additionally, store-level managers and retail leaders can leverage a richer set of data to contextualize store performance and identify sales opportunities.

“Retailing is now a seamless, ever-present activity with shopper engagement happening at many touch points between the customer and the brand,” said Amin Shahidi, vice president of strategy for Tyco Retail Solutions. “By combining our retail traffic data with store visitor demographic insights, we are able to help retailers better understand the complete shopper journey. This holistic understanding of shoppers allows retailers to optimize staffing, merchandising and operations to create tailored, enhanced shopping experiences.”

These innovative insights are currently being demonstrated at the National Retail Federation (NRF) 107th Annual Convention & EXPO at the Jacob K. Javits Convention Center in New York City. Visit booth #3103 from Jan. 14-16 to see firsthand how Tyco Retail Solutions is helping retailers “Experience What’s in Store.”

Note: In preparation for this collaboration, Facebook has ensured that user-level data will not be compromised as only aggregated and anonymized data will be shared.

 

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Tyco Retail Solutions enables connected shopper engagement through new innovation and collaboration

Loss Prevention Media -

Tyco Retail Solutions has collaborated with industry leaders to showcase new innovations and retail concepts to further digitize the store and enable retailers to provide smart, connected shopper engagement. Prescriptive analytical data solutions and technology investments are helping retailers to operate proactively, efficiently and in real-time to better engage their customers along the shopping journey in those moments of truth. From optimizing staffing, ensuring product availability and empowering store associates to connecting customers and merchandise across the enterprise, Tyco Retail’s new Google Cloud Platform-based solutions deliver insights necessary to combine the online and offline experience and execute successful unified commerce.

“Experience What’s in Store” with Tyco Retail at NRF 2018:

Inventory Intelligence

Inventory accuracy and visibility – showcasing capabilities with the Google Cloud Platform to enable a clear sightline into real-time, accurate inventory availability and maintain a consistent in-stock position to meet shoppers’ needs. Mobile transactions will feature TrueVUE Inventory Intelligence and lightweight, cost effective mobile sled options from Zebra, Bluebird and AsReader with iOS and Android devices. Link-it®, a new wearable RAIN RFID reader from Strato Innovations will be used to demonstrate how store associates can be equipped with the power of RFID in a cost-effective wearable device to enable cycle counting, stock replenishment and line busting leaving them hands-free to move merchandise and engage with customers.

Fitting room analytics and personalized customer service ─ collaborating with Kurt Salmon, part of Accenture Strategy, the 1:1 Retail solution enables retailers to enhance the customer experience and improve conversion rates by gaining real-time insights into shopper preferences and fitting room inventory. Touch screen devices installed in the fitting room automatically display the products customers are trying on by reading RFID tags. Customers can effortlessly request assistance or alert store associates through the app to bring in different sizes, styles and colors, all at the touch of a button. This enhanced personalization and customer engagement can help retailers drive sales, increase basket size and improve shrink management to help prevent potential loss situations in this crucial conversion area of the store.

Traffic Insights

ShopperTrak analytics and insights – leveraging new aggregated store visitor insights from Facebook incorporated with ShopperTrak traffic analytics to provide a holistic view of in-store shoppers. Brick-and-mortar retailers can better understand shopper audiences in combination with in-store traffic patterns to contextualize store performance and identify sales opportunities.

Also announcing the evolution of ShopperTrak analytics to the Google Cloud Platform for future proof infrastructure with global scale, security and high performance. ShopperTrak traffic analytics is being deployed as a concept with Google Analytics to extend its leading edge analytical intelligence platform with core cloud computing to deliver unmatched, unique data insights for retailers.

Loss Prevention

Shrink Management as a Service – revolutionizing loss prevention programs, the new Google Cloud Platform-based Sensormatic Shrink Management as a Service (SMaaS) enables retailers to enhance productivity and increase reliability and performance of EAS systems for a new generation of innovative loss prevention. Proactive, predictive and preventative. Providing both remote device management, along with predictive analytics, to proactively manage shrink while addressing underlying root causes.

Storefront Interactive EAS Display ─ offering new interactive capabilities that allow retailers to maximize the storefront area and capture customer attention. The display can be used in various ways, including advertising updated store offerings, sales and brands. Mounted on Tyco’s Sensormatic Synergy detection system, the display supports streaming video along with targeted customer content. The displays can be used to present content based upon the gender of the shopper. In addition, the retailer can easily create, schedule and publish content directly to the display.

Secure Mobile Shopping Kiosk – resulting from the collaboration of Tyco Garage and partner Shopic is a new application to enable self-checkout with automatic detachable EAS tags. Store shoppers simply purchase items through their mobile device and easily detach security tags from a convenient self-service kiosk, providing security for retailers and self-checkout for shoppers. The application leverages a new dual technology hard tag, with an integrated retractable pin and a RFID detacher. The new tag makes attaching and detaching quick and easy with no pin to loose, damage or replace.

Public View Monitor with Digital Signage – featuring dynamic content on a public view monitor with integrated live-stream of IP security camera; ideal for e-signage throughout the retail environment and can be used for in-store sales promotions and marketing.

These innovative collaborations and more are currently being showcased at the National Retail Federation (NRF) 107th Annual Convention & EXPO at the Jacob K. Javits Convention Center in New York City. Visit booth #3103 from January 14-16 to see firsthand how Tyco Retail Solutions is helping retailers “Experience What’s in Store.”

 

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Italy adopts whistleblowing law in the private sector

Global Compliance News -

On November 15, 2017, the Italian Parliament approved a new law extending to the private sector the protection of employees who report unlawful behaviors of which they became aware during their work activities (so-called “Whistleblowers”). In this respect, Section 2 of the law states that Organization, Management and Control Models pursuant to Decree No. 231/2001 (“Law 231 Models”) shall provide for a whistleblowing system establishing (i) one or more channels for reporting unlawful conducts which may trigger the company’s liability pursuant to Decree No. 231/2001 and/or violations of the Law 231 Model and which must ensure the confidentiality of the whistleblower’s identity, and (ii) at least one alternative channel which shall also ensure, by electronic methods, the confidentiality of the whistleblower’s identity. Moreover, Law 231 Models shall prohibit any retaliatory or discriminatory actions against the whistleblower and provide for specific sanctions for the violation of such prohibition and for those individuals who report, with intent or gross negligence, untrue allegations. In view of the forthcoming entry into force of the above-mentioned provisions, all companies operating in sectors particularly exposed to legality distortive events, such as the pharmaceutical and the biomedical ones, should proceed with the update of their Law 231 Models.

 

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What Do Investors Ask Managers Privately?

The Harvard Law School Forum on Corporate Governance and Financial Regulation -

Posted by Eugene F. Soltes and Jihwon Park (Harvard Business School), on Monday, January 15, 2018 Editor's Note: Eugene Soltes is the Jakurski Family Associate Professor of Business Administration and Jihwon Park is a doctoral candidate at the Harvard Business School. This post is based on their recent paper.

Investors and managers of publicly traded firms spend a considerable amount of time speaking privately. According to the consultancy Ipreo, the average publicly traded firm conducts more than 100 one-on-one meetings annually with investors. While growing body of research provides evidence that these offline interactions offer investors in attendance opportunities to make more informed trading decisions. what actually goes on during these interactions has largely been elusive to outsiders.

In this paper, we seek to better understand the content of private manager-investor interactions by exploring over 1,200 questions posed by investors during private meetings with firm managers from two publicly traded firms. We acquired access to this unique field data by embedding a confederate with extensive investor relations experience in two firms from 2015 to 2016.

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In governance we trust

Ethical Boardroom Feeds -

By Héctor Lehuedé – Senior Manager, OECD Corporate Affairs Division

 

 

“Happy families are all alike; every unhappy family is unhappy in its own way,” wrote Leo Tolstoy in the opening lines of Anna Karenina, preparing the reader for the tragic fate of Princess Anna’s marriage to Count Karenin.

It is a stark reminder that for a marriage to succeed it has to juggle many moving parts, any one of which can send the relation out of equilibrium in a different direction. A similar claim could be made about firms’ governance. For governance frameworks to be effective, they have to find the right balance of a number of challenging aspects in a way that suits the features of the individual firm. Get one of them wrong and bad things will happen, sooner or later.

Impact of misconduct

Corporate misconduct is unfortunately a ubiquitous and gloomy by-product of bad governance in today’s markets, so there is no need to describe it here. It may suffice to say that, to a degree, we have become rather unemotional about breaking news regarding the latest scandal, as well as to the sheer magnitude of some of the consequences. One is the impact on trust, not only in business, but on trust in institutions more generally.

When corporate misconduct is uncovered, citizens first blame the company and its leaders, as they should, but then also fault the authorities under whose watch events unfolded as well as the market as a whole, wondering as to the extent of bad practices. Distrust is only more acute if citizens perceive that punishment is not sufficiently proportionate, especially if the culprits walk away free (and with a bonus). Whatever measure is used to assess the level of trust, there is clearly a very strong agreement in the data that it fell significantly in the Organisation for Economic Co-operation and Development’s (OECD) area after the widespread misconduct revealed by the financial crisis, from an already very low starting point. We haven’t yet recovered from this fall and we suffer the consequences in a post-truth and increasingly polarised world.

Drivers of trust

As discussed in a 2017 OECD report Trust And Public Policy, trust is usually understood as ‘holding a positive perception about the actions of an individual or an organisation’.[1] Trust works by giving us confidence that others will act as we might expect in a particular context. It is developed (or lost) on the basis of the individual’s actual experience although, as a subjective phenomenon, it is based on facts as much as on our own perception or interpretation of them. It is also shaped by the opinion of others and influenced by media.

From an economic point of view, trust reduces costs and increases the speed of social interactions, generating tangible benefits for all: a ‘trust dividend’. When present, trust allows us to make decisions without having to renegotiate with and/or reassure our counterparts at each interaction.

The OECD report further discusses what institutions can actually do to strengthen lost trust, which is essential for the effectiveness of public policy. It points in the direction of two fundamental building blocks: competency and values. These two concepts encompass a range of qualities and attributes that have been shown to inspire trust, in particular: reliability, integrity, responsiveness, fairness and openness. They contribute to an individual’s direct sense that the institutions with which he/she deals are trustworthy.

Governance failures

As argued by the G20/OECD Principles of Corporate Governance, the purpose of corporate governance is precisely to create an environment of trust, transparency and accountability necessary to obtain long-term investment, financial stability and sustainable growth.[2] This environment offers households the opportunities to hold equity and participate in the profits and wealth creation of the private sector, while facilitating the channelling of savings to promising business ventures that agree to adopt good governance to receive financing. Robust empirical results, including by the International Monetary Fund (IMF), show how good corporate governance reduces risk for individual firms as for the market as a whole.[3]

This link between risk and governance was also in the Financial Stability Board’s (FSB) mind in 2016 when it created its Working Group on Governance Frameworks (WGGF), chaired by Jeremy Rudin, Canada’s superintendent of financial institutions. The group, that was mandated to explore the use of governance frameworks to reduce misconduct risk, presented a first public report in May 2017 which includes an engaging literature review of root causes of misconduct.[4] For this, the WGGF scrutinised a dozen prominent institutional failures in the financial and non-financial sectors, distilling common governance problems that offer clues into the actual functioning of governance frameworks:

Pressure The WGGF learned that all institutions studied were subject to strong pressures when they failed. These pressures rose from external forces (such as the need to maintain political support for space activity in the case of NASA’s space shuttle disaster, or increased competition threats in the market in BP’s Deep Horizon oil spill) as well as from internal forces (like an overly ambitious growth strategy, as in many financial institutions during the financial crisis). These pressures put governance institutions to a test they didn’t resist

Leadership Pressure found its way into the organisation from the top, usually beginning with the board and senior management. The WGGF notes that this influenced their leadership styles and tone, as well as the strategy and decisions they adopted. Dominant leadership and stressed group dynamics left little room for dissent and constructive challenge, so people didn’t speak up or were ignored if they did. Inappropriate behaviour, or behaviour inconsistent with official policies and values, quickly became tolerated (something psychologists refer to as ‘normalisation of deviance’) and shaped a riskier ‘new normal’

Culture Yielding to pressure, leadership negatively influenced the organisational culture and behaviour of the entire company beyond previously established rules and procedures. Organisational mindsets were realigned with a desire to achieve results at the expense of security, compliance, ethical values ​​or long-term sustainability. As employees perceived few opportunities to escalate concerns, leaders didn’t receive crucial information that, in turn, predisposed their own decision-making. Firms accepted small deviations and misconduct as inevitable risks, assuming that if they didn’t result in a major negative event in the past, they might not cause one in the future

Governance frameworks Tested under pressure and without candid support from the top, frameworks revealed their weaknesses. Unclearly defined roles and responsibilities led to unaccountability, feeble escalating channels to dangerous silence while financial incentives overpowered insufficiently strong or independent control functions. Even when frameworks proved to be robust and well-designed enough to operate under stress, their input was overruled at the top. The WGGF notes that Lehman Brothers had sophisticated policies and metrics in place to estimate risk, as well as extensive staff dedicated exclusively to risk management. However, Lehman’s leaders relied more on their experience and successful track record, leading their company into default and triggering a global crisis in the process

Role of culture

The FSB’s WGGF report concluded noting the symbiotic relation between governance frameworks and corporate culture, which it defines as ‘an institution’s shared assumptions, values, beliefs and norms’. An effective framework can nurture the right culture in a firm, but a corrupt culture can significantly undermine efforts to set up an effective framework running against its current. In a July 2017 post on the UK’s Financial Conduct Authority (FCA) website, former FCA senior advisor John Sutherland argues that for a new culture to emerge, staff members need to understand that the new governance framework will expect them to start behaving differently.[5]

“From an economic point of view, trust reduces costs and increases the speed of social interactions generating tangible benefits for all: a ‘trust dividend’. When present, trust allows us to make decisions without having to renegotiate with and/or reassure our counterparts at each interaction”

Sutherland warns that old habits die hard, but suggests there are four drivers of behaviour that can influence cultural change: trust and trustworthiness, communication, decision-making and incentives (both financial and non-financial). He cautions that leaders can damage internal trust by responding to pressure with objectives that differ from firm values. He quotes employee surveys reporting they ‘don’t always trust senior leaders’, or that they feel it is expected they will ‘have to trade ethics for business’, as evidence of this. To foster a well-working governance framework, Sutherland argues, all four behavioural drivers must be aligned, understood and ideally overseen or controlled by the board.

Leadership in practice

This is also the view of some enforcement agencies. A July 2017 interview of Hui Chen, former US Justice Department (DOJ) compliance counsel, highlights how relevant this relationship between frameworks and the organisational culture is for prosecutors charged with evaluating corporate compliance programmes.[6] Ms Chen describes how investigated companies tend to present binders full of their compliance policies, although DOJ prosecutors don’t really care about what the policy says, but rather about how they actually operate: ‘we want to see evidence; we want to see data of effectiveness’. She goes on to advise firms to make sure their programmes produce actual results that are measured thoughtfully and to assume that prosecutors will see through ‘a programme that’s designed to satisfy them versus a programme that’s designed to work’.

The 2017 DOJ’s manual for evaluating corporate compliance programmes offers a useful guide to corporate leaders committed to building an effective governance framework.[7] The manual lists difficult questions covering issues from ‘analysis and remediation’ to ‘incentives and disciplinary measures’, including ‘autonomy and resources’ as well as ‘continuous improvement, periodic testing and review’ among others. On the role of the leadership, it covers three crucial issues:

Conduct at the top How have senior leaders, through their words and actions, encouraged or discouraged the type of misconduct in question? What concrete actions have they taken to demonstrate leadership in the company’s compliance and remediation efforts? How does the company monitor its senior leadership’s behaviour? How has senior leadership modelled proper behaviour to subordinates?

Shared commitment What specific actions have senior leaders and other stakeholders (e.g. business and operational managers, finance, procurement, legal, human resources) taken to demonstrate their commitment to compliance, including their remediation efforts? How is information shared among different components of the company?

Oversight What compliance expertise has been available on the board of directors? Have the board of directors and/or external auditors held executive or private sessions with the compliance and control functions? What types of information have the board of directors and senior management examined in their exercise of oversight in the area in which the misconduct occurred?

The rear-view mirror

Habitual readers of Ethical Boardroom may recall that the Spring 2015 issue hosted an editorial about a then-recent OECD project exploring what corporate governance frameworks could do to mitigate the risk of corporate misconduct.[8] The piece described the integrity recommendations of the G20/OECD Principles of Corporate Governance and asked, rhetorically, what those recommendations meant in practice for boards that take their responsibilities to heart. It concluded by outlining plans the OECD had to better understand why some companies fail to prevent misconduct and how to build effective compliance into corporate governance. It also promised to report back on the findings.

Looking back, it seems fair to say that we now have a wealth of knowledge and some robust findings from diverse sources at our disposal, which have enriched our understanding of how governance frameworks can succeed or fail. We can argue that we have better assessed the crucial role of trust and its drivers; we have carefully studied the conclusions from previous corporate failures and extracted valuable lessons; we have come to grips with the role of culture in governance and we have sharpened our tools to facilitate meaningful implementation of best practices.

We can declare we are better equipped to balance the many governance challenges, but this is, of course, no guarantee of success. As Tolstoy or anyone who has been in a relationship could attest, the path to success doesn’t only demand learning to juggle the moving parts, but also to find the commitment to keep doing it as consistently as possible for the long run.

 

About the Author:

Héctor is senior manager at the Corporate Affairs Division of the Organization for Economic Co-operation and Development (OECD) where he is in charge of overseeing the work of the OECD Corporate Governance Committee, which brings together experts from all OECD member and partner countries and meets twice a year in Paris. He is also responsible for policy dialogue, research and assessments of the implementation of OECD standards across jurisdictions, as well as manager of the OECD Russia Corporate Governance Roundtable (sponsored by the Moscow Exchange and the Siemens Integrity Initiative) and the OECD Trust and Business (TNB) Project.

Héctor joined the OECD in 2010 after serving as senior adviser to the Chilean Minister of Finance and having practiced for more than a decade as a lawyer at some of the best legal and audit firms in Chile. He has a J.D. degree from Universidad de Chile and holds a Master degree from Stanford University.

4 Ways You Can Transform Retail Loss Prevention Training

Loss Prevention Media -

Prior to 2012, Bloomingdale’s was doing what most retail organizations do when it comes to retail loss prevention training and safety education—relying on a number of standard approaches like posters, classroom training, huddles, and pre-shift morning rallies. But these approaches just weren’t working.

As I contemplated this situation, I realized we weren’t focused on the right thing. We were concentrating on simply delivering training, when we should have been focused on building knowledge. Simply plastering posters on the wall or using all those other one-off approaches weren’t making our associates smarter or getting them to do the right things on the job. This dearth of knowledge was impacting our loss prevention and safety numbers.

.inline-text-ad h1, .inline-text-ad h2, .inline-text-ad h3 { margin-top: 0; } .inline-text-ad h1 { font-size: 18px !important; font-weight: bold !important; } .inline-text-ad p { font-size: 1.0rem; } .inline-text-ad { border-top: 1px dotted #cccccc; border-bottom: 1px dotted #cccccc; padding-top: 20px; } @media only screen and (max-width: 768px) { .inline-text-ad { text-align: center; } .inline-text-ad h1, .inline-text-ad h3, .inline-text-ad h3 { font-size: 1.15em; } } @media only screen and (max-width: 460px) { .inline-text-ad h1, .inline-text-ad h3, .inline-text-ad h3 { font-size: 1em; } } Don’t be left behind as the LP industry evolves! Get our FREE Special Report, Retail Loss Prevention Secrets from the Experts right now!

We sought out and eventually discovered an employee knowledge platform that aligned with the organizational vision. The platform’s methodology, which was rooted in brain science principles, and its use of gamification techniques to keep associates interested, succeeded in building employee expertise over time. Since implementing the platform, we’ve reduced safety claims by 41 percent and saved $2.2 million per year, which is a $10 million savings overall.

Here are four things I’ve learned over the course of transforming the way Bloomingdale’s approaches safety and retail loss prevention training:

1. Integrate training into the regular work day without taking associates off the floor.

Retail associates are constantly on their feet. The reality of their fast-paced work environment means it’s disruptive and expensive to take them off the floor. At Bloomingdale’s, associates use their downtime to take a few minutes of micro training every shift via a point-of-sale (POS) or mobile device. Not only does this keep valuable staff members on the floor, but it keeps LP and safety information top of mind.

2. Bite-size, personalize, and gamify.

Today’s retail workforce is tech savvy and accustomed to accessing small pieces of information instantly. Retailers can appeal to these preferences by delivering training in small bursts in a way that is entertaining, personalized, and gamified. Learning becomes more exciting and interactive and, by integrating friendly competitive aspects through leaderboards, points, and rewards, this further fuels motivation. At Bloomingdale’s, we often hit training participation rates above 95 percent on the platform.

3. Offer flexibility to meet the unique challenges in different departments and stores.

One of Bloomingdale’s challenges was to provide consistent training across stores, while giving stores the flexibility to meet specific needs. With a single training platform, we’re able to do this, plus empower each location or department to customize their associates’ learning experience. For example, in November 2015, ISIS followed up its attacks on Paris with a threat against New York City targets. As a result, we pushed out active shooter training as a top priority to our NY stores. Within minutes of starting their shifts, associates received refresher training, helping to calm fears and prepare for the worst. Fortunately, the threat didn’t materialize, but our front line was prepared.

4. Provide a way to measure associate knowledge and tie it back to business outcomes.

Seeing progress and tying it to results is critical for measuring impact. Instead of tracking the completion of training, we track knowledge growth on a topic-by-topic basis and can see the impact all the way through to employee behavior and results. We know exactly how teams and individual associates are advancing in their knowledge, which training content is posing some challenges, and which topics employees have mastered. This enables managers to provide coaching and creates a positive cycle of feedback that elevates training and performance continually across the organization.

This post was originally published in 2017 and was updated January 10, 2018.

The post 4 Ways You Can Transform Retail Loss Prevention Training appeared first on LPM.

Martin Luther King Jr. Day

Loss Prevention Media -

Today is the commemoration of the federal holiday to honor the Reverend Martin Luther King, Jr. This year, the holiday falls on his birthday (Jan. 15, 1929).

According to Quartz, King is only one of three individuals who have a dedicated US national holiday in their honor, the other two being Christopher Columbus and George Washington. King was only 39 years old when he was assassinated at the Lorraine Motel in Memphis, TN, in 1968. James Earl Ray later pleaded guilty to the charge.

President Ronald Reagan signed the bill designating the third Monday in January as Martin Luther King Day in 1983, to begin the holiday in January 1986.

A recent survey revealed that less than 40 percent of workers have this holiday day off… about the same as Presidents Day. But whether or not you’re at work today, take a moment to reflect on the philosophy of this great civil rights leader.

“I have a dream that my four little children will one day live in a nation where they will not be judged by the color of their skin, but by the content of their character.” – Martin Luther King, Jr

This post was originally published in 2017 and was updated January 15, 2018.

The post Martin Luther King Jr. Day appeared first on LPM.

FCPA Compliance Report-Episode 366 Jonathan Marks on performing and using a root cause analysis

FCPA Compliance & Ethics -

In this podcast, I visit Jonathan Marks, a partner at Marcum LLP on how to perform a root cause analysis and it uses in the remediation phase of a best practices compliance program. One new and different item was laid out in the Evaluation of Corporate Compliance Program, supplementing the Ten Hallmarks of an Effective Compliance [...]

The post FCPA Compliance Report-Episode 366 Jonathan Marks on performing and using a root cause analysis appeared first on Compliance Report.

Risk and Opportunity in the Internet of Things

BRINK News -

Can you envision 30 billion devices connected to the Internet of Things (IoT) by 2030? What about 100 trillion connected devices? That’s the number that Oliver Wyman predicts could be the reality by 2050. Communications, media, and technology (CMT) companies are at the nexus of the creation and use of IoT devices and offer telling insights into the opportunities and risks of IoT development.

Sixty-five percent of CMT companies said they view the Internet of Things as an opportunity over the next three to five years, according to Marsh’s global 2018 Communications, Media, and Technology Risk Survey. And nearly half said their organization already creates or provides products and services for IoT devices. Meanwhile, many CMT risk professionals may be unaware of connections to the Internet of Things.

Exhibit 1: Many CMT risk professionals may be unaware of connections to the Internet of Things

Source: Marsh 2018 Communications, Media, and Technology Risk Study

That number reinforces an awareness gap about the IoT that Marsh has found in other studies. For example, in Marsh’s 2017 Excellence in Risk Management survey, 52 percent of risk professionals said their organization does not use or plan to use the IoT, which conflicts with other data regarding IoT use.

This lack of understanding regarding the full range of risks presented by being a part of an IoT system stood out when we asked CMT organizations about related loss exposures.

Exhibit 2: System operation and security dominate IoT provider concerns; users increasingly concerned with physical risks

Source: Marsh 2018 Communications, Media, and Technology Risk Study

On the high end were system or network failure, security failure, and privacy breach. At the bottom were financial loss, property damage, and bodily injury. We also asked in which areas CMT companies’ customers/partners are seeking additional contractual protection. And here we found a disconnect, for example, in bodily injury losses. The failure of an IoT-connected device—through a production error, a cyberattack, or other cause—has the potential to cause injury. The component in a semiautonomous vehicle could fail, leading to an accident, or an IoT-connected device could be hacked, causing the system to overheat and catch fire. Fully half of respondents said their customers/partners are asking for increased protection against the risk, yet less than one-third of IoT providers are making the connection and seeing bodily injury as an IoT risk.

Partners in Innovation

A majority of our CMT survey respondents said their organizations hold risk management in high regard, with nearly 75 percent saying they’re seen as partners or providing support for innovation. But in order for these perceptions to match reality risk, professionals should challenge themselves to review their day-to-day tasks and determine if they are truly leading conversations about emerging risks and solutions, such as IoT.

Exhibit 3: CMT risk managers view themselves as innovation partners

Source: Marsh 2018 Communications, Media, and Technology Risk Study

Given the relentless pace of innovation and disruption, how can CMT risk professionals stay relevant in 2018? They must become experts in emerging risks, innovations, and trends within and outside of their industry in order to maintain a seat at the table for strategic decisions.

Companies would benefit by boosting their understanding and evaluation of IoT involvement, with specific emphasis on the new risks being created. For risk professionals, this means being a leader in discussions in all aspects of IoT and other technology risks. This includes such steps as aligning or embedding risk management team members with product development, building risk solutions into product or service offerings, and taking the lead in pushing for investment in emerging risk mitigation technologies or applications.

The IoT is just one of many technologies that will evolve and emerge in 2018, further disrupting CMT and other industries. Whether it’s IoT, artificial intelligence, blockchain, or something else, risk professionals should be prepared to lead the discussion of how these technologies will affect their companies’ risk profiles and business strategies.

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