Best Practices in Mitigating Third Party Risk with Due Diligence & Compliance
Original Broadcast Date: Tuesday, December 6, 2011
Cost: FREE
Sponsored by:
Join us for this informative discussion on reducing intermediary risk. This webcast will share insights on 3rd party due diligence drivers, including:
- An overview of the current global regulatory requirements with respect to third party due diligence;
- The business case for implementing a robust intermediary due diligence program; and
- Lessons learned/best practices for implementing or enhancing your intermediary compliance program.
The risks of having no intermediary compliance program, or an ineffective one, are too great. Hefty fines and penalties along with the cost of unquantifiable reputational damage far outweigh the cost of implementing an effective risk-based compliance program.
Tune in and hear how international organizations and countries have focused on designing compliance programs, which include the performance of due diligence on intermediaries, to prevent and detect corrupt behaviors. While there is guidance available for an organization to follow when designing its compliance program for intermediaries, there is no one prescribed list of compliance procedures to perform, but an amalgamation of considerations to incorporate into compliance programs. Our panelists will share findings and insights in this vital presentation.
This webcast is a second in a three- part webcast series on mitigating risks in today’s business environment. Each webcast will provide best practices, strategies and suggestions that companies can employ to help manage these situations. The first webcast in the series addressed Mitigating Risks in Russia, and a link is available at the bottom of this page. The third webcast will focus on Risk & Global M&A Transactions. We invite you to tune in for all of them.
Register Now!
The first web seminar of this three-part series can be found at:
http://www.insidecounsel.com/MitigatingRisksRussia
Featured Speakers:
- James Meehan
- Partner
- PwC LLP
James Meehan is a partner in the San Francisco, California office of PricewaterhouseCoopers LLP. Mr. Meehan is a leader in the West Coast Forensic Services practice. He specializes in assisting organizations and their counsel by providing accounting and financial advice in complex commercial disputes and investigations. His experience includes financial fraud, embezzlement and corruption investigations; complex litigations, including securities fraud class actions, and royalty dispute matters. Mr. Meehan has assisted numerous organizations and their counsel in their post-investigation dealings with the Securities and Exchange Commission, the Department of Justice and, the Federal Bureau of Investigation. He has also testified in federal and state court matters and in arbitration proceedings.
Mr. Meehan has coordinated and executed investigations (and internal control remediation efforts) throughout Asia and Europe related to a variety of issues including fraudulent revenue schemes and allegations of Foreign Corrupt Practices Act (FCPA) violations. He has assisted numerous global organizations in the design and implementation of worldwide anti-corruption programs. This includes experience in the preparation of risk assessments, policy and program design, and the implementation of specific anti-corruption internal controls. A particular area of emphasis for Mr. Meehan related to anti-corruption compliance programs has been assisting organizations in their ability to manage the risks associated with engaging with business partners around the globe. This includes the development of client specific frameworks for managing these risks including risk assessments, detailed process and controls design, and IT/work flow enablement.
Mr. Meehan began his career in the Assurance Services practice with Coopers & Lybrand where he spent three years focused on auditing of publicly traded clients in the financial services and telecommunications industries. He is a Certified Public Accountant licensed in the state of California and holds the Certified in Financial Forensics designation from the American Institute of Certified Public Accountants.
- Dana Smith
- Director, Advisory Forensic Services Practice
- PwC LLP
Dana Smith has been with the firm for 17 years and is a Director in the Advisory Forensic Services Practice of PwC LLP in Philadelphia, where she specializes in Corporate Intelligence. She provides professional services to corporate management and attorneys in connection with the performance of enhanced due diligence services related to compliance, transaction support, regulatory investigations, and complex business frauds and schemes. Ms. Smith has significant experience in performing fraud investigations and compliance examinations in a variety of industries. In addition, Ms. Smith has experience in performing damage calculations in commercial disputes, including, but not limited to intellectual property disputes, and post merger and acquisition disputes. In addition to leading dispute assignments, Ms. Smith works in the firm's Licensing Management Services Practice where she has assisted clients in licensing management and contract compliance in the pharmaceutical, biotech and manufacturing industries.
Ms. Smith received her Bachelors of Science degree in Accounting and completed the requirements for a major in French from Bucknell University in 1994 and she received her Masters in Business Administration from the University of Pennsylvania, The Wharton School in 2001. She is a Certified Public Accountant in the Commonwealth of Pennsylvania and is a member of the American Institute of Certified Public Accountants and the Pennsylvania Institute of Certified Public Accountants. She is also an associate member of the American Bar Association.
- Jennifer Stomberg
- Manager, Forensic Services
- PwC LLP
Ms. Stomberg is a Forensic Services Manager in the PwC San Francisco office. She specializes in anti-corruption compliance and conducting investigations relating to allegations of bribery/corruption and regulatory misreporting. Ms. Stomberg’s experience includes assisting several large global companies design and implement a Business Partner due diligence program. Ms. Stomberg also has experience conducting anti-corruption risk assessments, evaluating FCPA books & records programs, drafting FCPA compliance policies and training materials, developing anti-corruption Internal Audit work programs and overseeing reviews of Accounts Payable data for FCPA risk indicators. Ms. Stomberg also assisted PwC with the development of an IT solution that supports Business Partner Due Diligence programs. The web-based solution provides a framework for business partner on-boarding, risk assessment, due diligence, review and approval.
