Shared Experiences in GRC

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.

This week on Office Hours (https://officehou.rs), our OG hosts Dan Zitting and Kevin Legere are back and are ready to talk machine learning. We get a lot of questions about where to start with machine learning... lots of people in audit, risk, compliance, etc. are talking about it in principle but very few have started on a single practical use. In this episode, Kevin will show you where he actually got started using fancy words like k-means clustering to put machine learning to work in his...

This week on Office Hours (https://officehou.rs), Dan Zitting and Phil Lim attack the problem of regulatory change management. Specifically, Phil helped a client of his build an effective and cost efficient solution for not only aggregating and consolidating alerts of regulation changes, but envisioned a way to make sifting through them, cleaning out the garbage, and deciding what to actually do about those that matter far easier. ABOUT SERIES Office Hours is a work of passion to share...

This week on Office Hours (https://officehou.rs), Dan Zitting and Kevin Legere discuss a question we got from a listener about how to use automation and monitoring without it causing external audit reliance issues that get blamed on the PCAOB. Some sanity is necessary to make sure each of the organization, the organization's auditor, and the organization's auditor's regulator (the PCAOB) realizes the BEST way to evaluate controls is through ongoing monitoring and this session describes four...

This week on Office Hours (https://officehou.rs), Dan Zitting and Kevin Legere discuss thoughts on risk management in scenarios that are "too good to be true". Kevin uses the Volkswagen emissions scandal to show how publicly available data illustrated the risk that emissions performance was just "too good to be true". ABOUT SERIES Office Hours is a work of passion to share strategies, technology ideas, and real-world stories that inspire governance, risk management, compliance, and audit...

This week on Office Hours (https://officehou.rs), Dan Zitting and guest host Phil Lim discuss vulnerability management and using analytics to consolidate, normalize, and prioritize vulnerabilities into threats and then evaluating risk levels based on the threats. Dan's customer was looking to drive a real time profile of IT risk based on its collection of threat and vulnerability data, which Dan demonstrates using ACL. ABOUT SERIES Office Hours is a work of passion to share strategies,...

This week on Office Hours (https://officehou.rs), hosts Shahed Khalili and Dan Zitting discuss third party risk management by looking a disastrous vendor-related incident that caused Shahed's customer rethink their processes and controls around how they manage their third parties. Shahed discusses what was implemented to prevent the "next time" incident happening.

This week on Office Hours (https://officehou.rs), hosts Kevin Legere and Dan Zitting discuss third party risk management by looking at a situation where contract risk/vendor risk led to several very large organizations being substantially over-billed and the vendor itself having to restate its financial statements after rectifying the issue. We'll dig into how it happened and using "big data" to identify and resolve the issue. ABOUT SERIES Office Hours is a work of passion to share...

This week on Office Hours (https://officehou.rs), hosts Kevin Legere and Dan Zitting discuss their experiences identify ghost employees, ghost beneficiaries, and other related cases where large organizations are being defrauded through the identify theft of dead people. Kevin describes a large company where identified a high ranking executive had used the identity of a dead person to get hired, Dan describes a state government paying benefits (food stamps, veteran benefits, etc.) to people...

This week on Office Hours we'll be talking about brand, and the risk of brand misperception. What assurance do management and the Board really have that corporate marketing is speaking to the market in a way and cadence that aligns to corporate strategy and drowns out the competition? This is a good chance to think about risk management's role in marketing, and also a great chance to look at how AI-driven natural language processing can be used in a real-world, practical way... in this case...

This week on Office Hours, our first guest host, the mad genius Phil Lim, joins Dan Zitting to talk about the Paradise Papers... what they mean and how an organization he worked with was interested in using the data compiled from them to look at potential risk indicators fraud or corruption. Phil actually uses the real data with real US government spending data to show how the process looks to evaluate red flags.

This week on Office Hours, hosts Dan Zitting and Kevin Legere summarize Kevin's experiences as a data analytics consultant to audit and compliance teams who are just getting started with an analytics program. Kevin distills the what he found are really the five key steps to getting off the ground and building your first "data robots". These worked at Fortune 500 company's and the US Federal Government, hopefully they work for you if you are just diving into "data-powering" your team or...