Ahead of Election Day: A Social Media Test for Companies

How Compliance Officers Are Navigating This Turbulent Year

Nov 02, 2020
Finance

SMITH BRAIN TRUST  At a time when Americans are sharply divided about politics, corporate compliance officers are under pressure to talk to employees about ethical behavior, in the office and on social media.

Corporate codes of conduct and social media policies typically merely graze the issue, but with companies increasingly vulnerable to reputational risks and potential consumer boycotts, experts say it’s not a bad idea to remind employees to be careful what they post.

Clifford Rossi, clinical professor of finance and risk management expert at the University of Maryland’s Robert H. Smith School of Business, spoke to The Wall Street Journal recently about the topic. He says the potential consequences for businesses can be massive.

“Awareness and sensitivity is really what this is about,” Rossi is quoted as saying. “That’s how you manage this risk: Make people more aware of their actions and the consequences.”

Read more: Election Tests Companies’ Policies on Social Media, Political Speech.

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About the Expert(s)

Clifford Rossi

Clifford Rossi is an executive-in-residence and professor of the practice at the Robert H. Smith School of Business, University of Maryland. Prior to entering academia, Rossi had nearly 25 years' experience in banking and government, having held senior executive roles in risk management at several of the largest financial services companies. His most recent position was managing director and chief risk officer for Citigroup's Consumer Lending Group where he was responsible for overseeing the risk of a $300+B global portfolio of mortgage, home equity, student loans, and auto loans with 700 employees under his direction. While there he was intimately involved in Citi's TARP and stress test activities. He also served as the chief credit officer at Washington Mutual (WaMu) and as managing director and chief risk officer at Countrywide Bank.

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Robert H. Smith School of Business
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University of Maryland
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