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Suzanne
Folsom

About Suzanne Rich Folsom

Suzanne Rich Folsom is an industry-leading expert in the area of governance, regulatory and compliance risk management, and transnational corruption prevention and investigations. Suzanne Rich Folsom has been directly involved with many of the highest profile policy, business, financial, and corruption prevention issues of the last twenty-five years, from Wall Street to the White House and governments around the world.

She expertly managed the regulatory and compliance challenges for one of the largest financial services corporations in the world during the recent financial crisis. The American International Group, Inc. recruited Suzanne Rich Folsom to assist in stabilizing the company after the events of the 2008 Wall Street banking crisis. She also professionally managed AIG’s regulatory and compliance risk issues in one of the largest corporate divestitures in history.

Prior to joining AIG, Suzanne Rich Folsom served as the Counselor to the President of the World Bank Group and Director of its Department of Institutional Integrity. During her five-year tenure at the World Bank, Suzanne Rich Folsom was instrumental in building a global investigative, sanctioning, and compliance capacity within the organization, contributing to its anti-corruption efforts. Suzanne Rich Folsom’s commitment to combating corruption on behalf of the Word Bank’s clients in more than 180 countries has been commended by leaders around the world. Earlier in her career, Suzanne Rich Folsom practiced law with two leading international law firms and personally represented some of the most senior foreign and US government officials on an array of private and public sector legal matters.

Suzanne Rich Folsom’s significant experience in international and domestic regulatory and governmental affairs has enabled her to serve both as a strategic advisor and crisis manager for Fortune 500 companies on multidimensional business issues. Suzanne Rich Folsom’s wide reaching public service experience includes serving on boards and in other leadership roles at leading non-governmental and charitable organizations whose missions include education, health, historic preservation, the Olympic spirit, ethics and governance, defense, international development, and the rights of children and women throughout the world.

One significant project where she deftly managed a group of volunteers was during her work for the National Center on Addiction and Substance Abuse, where Suzanne Rich Folsom and her team focused on the legal system’s treatment of maternal substance abuse in the United States. Suzanne Rich Folsom has lived and worked in both developing and developed economies in the Middle East, Africa, Asia, Latin America, Europe, and North America. Her impeccable academic credentials include an undergraduate degree from Duke University and a JD, cum laude, from the Georgetown University Law Center.


Suzanne Folsom's Schools

Suzanne Folsom's Companies

Suzanne Folsom's Publications

  • Eradicating Corruption: Four Steps for Prevention
    , Suzanne Folsom's Blog on Bigsight
    October, 2011
    A skilled ethics attorney with substantial public and private sector business experience, Suzanne Folsom has helped a number of institutions with efforts to eradicate corruption and fraud on a global scale and to establish leading practices in their organizations. With previous work on all continents, Suzanne Folsom possesses a deep understanding of the causes and methods of corruption and has formed superior insights as to how to deal with systemic corruption. In 2008, World Bank Managing Director, Juan Jose Daboub, praised Suzanne Folsom’s work in this area, asserting, “Her leadership in the bank’s fight against global fraud and corruption is well-recognized.”

    Moreover, Suzanne Folsom’s heroic efforts in the fight against corruption while at the World Bank were recognized by Paul Volcker in an independent review he conducted and by World Bank Presidents Jim Wolfensohn, Paul Wolfowitz, and Bob Zoellick. The Wall Street Journal also recognized Suzanne Folsom’s efforts in multiple editorials in 2007 and 2008.

    Whether on a governmental or corporate scale, corruption occurs in many corners of the world, thwarting progress and slowing development and advancement. Fighting corruption is a thankless mission. Those who take it on are often attacked by anonymous sources because of the substance and success of their work. We need leaders like Suzanne Folsom who have the courage and fortitude to combat corruption, regardless of the personal cost.

    The following outline presents ways in which organizations can prevent corruption. While no simple answers or solutions exist, preventive steps can assist in setting up a framework to avoid corruption and fraud in different settings.

    1. Transparency may exist as the most important aspect of any business or government operation. Without transparency, corruption thrives, and individuals or parties involved retain an ability to carry out unethical practices more readily.

    2. Checks and balances also represent an important part of anticorruption measures. Utilizing separate departments and individuals to ensure proper functioning leads to less exploitation and a greater commitment to honesty.

    3. Policies that foster ethical practices, including rewards systems and incentivized productivity plans, can help minimize corrupt behavior. These plans should include antibribery policies along with benefit programs for ethical actions in the workplace.

    4. A corporate culture that values integrity, honesty, and ethical business practices remains an important part of all of the company’s practices.

    The world needs more leaders, like Suzanne Folsom, who are willing to stand up and do what is right, regardless of the slings and arrows. We need leaders like Folsom who are not afraid to serve as the voice for all those who suffer if corruption is allowed to continue.