Zoom boosted its compliance team during pandemic |
The Wall Street Journal reports on how San Jose, Calif.-based videoconferencing company Zoom formalized its risk and ethics functions with the hiring of its first chief compliance officer last year and the building of a new compliance team with the addition of 50 more lawyers and compliance professionals. Lynn Haaland, the company’s deputy general counsel and chief compliance and ethics officer, told the WSJ Risk & Compliance Forum that Zoom has created individual teams working on issues related to compliance and ethics including the internal code of conduct and training, privacy, regulatory compliance, technical compliance, and “trust and safety.” Zoom’s chief information security officer, general counsel and the chief operating officer all also help identify and mitigate risks facing the company. Ms. Haaland said Zoom has a “speak-up culture” focused on transparency, and the company’s compliance team has also been reconsidering its approach to compliance training. Zoom is now offering tailored, shorter training, including quizzes and reviews from past lessons, in five- to seven-minute sound-bites once a month rather than requiring an hour or so of training on the company’s code of conduct policy once a year, she said. |
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