Simplify for Success - Conversation with Patrick Henz
Patrick Henz, who manages compliance was on Simplify for Success, a podcast series presented by Meru Data and hosted by Priya Keshav. He shared that it is important to build personal relationships with business units and simplify compliance to improve adoption. He highlighted how the penalties and reputational impacts of non-compliance are much higher than the investments needed to build a world-class compliance program.
Listen to the full podcast below:
*Views and opinions expressed by guests do not necessarily reflect the view of Meru Data.*
Hello everyone, welcome to our podcast around simplifying for success. Simplification requires discipline and clarity of thought. This is not often easy in today's rapid paced work environment. We have invited a few colleagues in the data and information governance space to share their strategies and approaches for simplification. Today we will be talking with Patrick Henz.
Patrick started his career in corporate information office and compliance at the end of 2007 when he was responsible for the implementation of Siemens Anti-Corruption program in Mexico and several Central American and Caribbean countries. Together with these tasks he gained valuable insights into compliance programs with a focus on Latin America.
Since 2009 in his role as Chief Compliance Officer, he has been responsible for an effective compliance system based on identification, protection, detection, response and recovery, and combined with integrity, respect, passion and sustainability. He defines governance, risk and compliance as a proactive function, being perceived as a guardian expert and a facilitator. The focus is on information to ensure adequate behavior not only of human employees but artificial intelligence as well.
Furthermore, he is a member of the IEEE Digital Reality Initiative and author of several books. Welcome to the show Patrick.
Hello, thank you Priya. Pleasure to be here.
So, Patrick, you've had many years of experience leading compliance for many organizations. In your experience, how do you build a business case for compliance?
Oh thanks, yeah, so let's go back a little bit. I originally started in compliance at the end of 2007. I worked in Mexico City and at Siemens at that time. As you may remember at that time Siemens had global investigations, they had the big corruption scandal and there still have been an investigation and negotiation of this, especially with the US Department of Justice. As it was still unclear how much the fee would be they would have to pay later, and so one thing important also is to reduce the legal fees as much as possible, you have to show that you have an efficient compliance system implemented or are in the process to really adequately attack the problem with implementing compliance department.