Multi-Industry Ethics

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  Playing Moneyball in the Compliance DepartmentMay 31, 2012 4:06 PMSCCE Social Media Manager
 

Playing Moneyball in the Compliance Department
From: SCCE Social Media Manager
To: Multi-Industry Ethics
Posted: May 31, 2012 4:06 PM
Subject: Playing Moneyball in the Compliance Department
Message:
This message has been cross posted to the following eGroups: Multi-Industry Ethics Forum and Multi-Industry Chief Compliance and Ethics Officers .
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It's about getting things down to one number . . . we'll find the value of players that nobody else can see. People are overlooked for a variety of biased reasons and perceived flaws. Age, appearance, personality. Bill James and mathematics cut straight through that. Billy, of the 20,000 knowable players for us to consider, I believe that there's a championship team of 25 people that we can afford. Because everyone else in baseball undervalues them. Like an island of misfit toys. -Peter Brand (played by Jonah Hill); Moneyball (2011).

In the movie Moneyball, Brad Pitt plays Billy Beane, the innovative manager of the Oakland Athletics baseball team who used statistical data about player performance to lead the team to 20 straight wins in the 2002 season. Beane analyzed how pitchers released the ball, where the ball crossed home plate, which pitches drew the most swings, and how often players got on base. Moneyball is a baseball movie, but more broadly it illustrates how empirical data and statistics have changed the way we analyze and solve problems.

Baseball franchises are but one of many kinds of organization using statistics to improve performance. Some legal departments have begun gathering statistical data to evaluate the effectiveness of their compliance programs. Several years ago, lawyers would talk at compliance conferences about the elements of an effective compliance program under the United States Sentencing Guidelines. "You have to assess the program," a panelist would say, but there was not always a clear, data-driven way to do so. The guidelines have not changed significantly, but technology has changed the way companies assess their compliance programs. Across the globe, in-house compliance lawyers are using empirical data and statistics to effectively manage allegation programs, document production, due diligence, compliance audits, and training.

more: http://www.law.com/jsp/cc/PubArticleCC.jsp?id=1202556496832

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Thank you,

Eric Newman, Esq., CCEP
Social Media Manager
HCCA/SCCE
eric.newman@corporatecompliance.org
(952) 405-7938
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