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.
Table of Contents
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
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