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Innovation & Risk:

Forging Productive Ties with Legal,
Compliance, and Security Teams

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Innovators are attracted to the open road — and high speed. But in large organizations, their desire to move fast and explore new terrain often comes into conflict with colleagues in the compliance, legal, and security departments. In this report, we dive into the dynamics of the relationships between innovation teams and their colleagues in legal, compliance, and security.

Inside the report, we highlight data from 150 innovation professionals on topics such as when they start working with legal, compliance, and security colleagues, and their advice on building strong working relationships. The report includes perspectives from innovation leaders at HCA Healthcare, Avanade, BNP Paribas, Sanofi, BBVA Compass, Reliant Energy, and ADP, as well as case studies about the intersection of innovation and risk management from Adobe, Royal Bank of Canada, USAA, AstraZeneca, and more. See the full table of contents below!

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Case Studies & Advice

Leaders from USAA, Adobe, Fidelity Investments, AstraZeneca, and more discuss their approaches.

Data

We asked 150 innovation professionals about how they achieve alignment with risk managers in their organizations.

Thought Leadership

Our sponsor for this report, Mastercard, provides expertise on the topic of innovating without compromising security.

Introduction & Data Overview

When Do You Engage? 4

How Do You Achieve Alignment? 6

Security: A Growing Customer Concern 11

Creating Exceptions, Changing Regulations, and Working with Startups 16

Going from ‘Necessary Evil’ to ‘Net Positive’ 19

Guidance & Tools

Advice from Our Survey Respondents: Building Stronger Relationships with Colleagues in Risk Management 21

Worksheet: Six Steps to Stronger Relationships 23

Guidance From Our Sponsor, Mastercard: Innovating to Deliver Cutting-Edge Security Solutions  24

Case Studies

So You’re Trying to Innovate in a Heavily Regulated Industry...  27

The Three Roles That USAA Labs Plays  30

Putting Emerging Technologies to the Test in a 12,000-Employee Hospital System  33

Failing Fast and Taking Risks: How Adobe’s Legal Group Met the Challenges of Supporting Innovation  36

Fidelity Investments CEO on Blockchain, VR, and Deflation in Financial Services  38

How Royal Bank of Canada Moved Fast to Deploy Mobile Payments  43

Open Innovation at $25 Billion AstraZeneca: What We’ve Learned So Far  45

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