Suzanne Folsom: Compliance Failure A Significant Threat to Modern Businesses

As someone who has served as both General Counsel and Chief Compliance Officer for several large corporations, Suzanne Folsom understands compliance failure to be one of the greatest risks, both in terms of financial loss and reputation that face the modern-day enterprise.

Most recently an executive with U.S. Steel, Suzanne Folsom knows that without a robust compliance program in place, the corporation has the potential to suffer great damage in terms of liability and long-term reputational damage.

In a 2017 article for Corporate Compliance Insight, Folsom lays out the importance and reasoning for investing in and implementing such a program:

“Corporate compliance programs…have now become part of the internal management of most corporations,” says Folsom. “Such programs are a self-policing mechanism by which companies can avoid or mitigate legal liability. Implemented effectively, corporate compliance programs can manage risk and create value for the corporation. A corporate compliance regime is no longer an exception, but rather the rule for every successful company.”  

Visit https://medium.com/@suzannefolsom/suzanne-rich-folsom-support-of-veterans-456f7e34ab75 for more information about her.