Abstract:

The most crucial factor LRN has identified in our years of research is that a values-based approach to governance is essential to ethics and compliance. It builds and sustains ethical culture, which is the essential element of effective E&C programs. But what does that look like today, as our world continues to be disrupted by the COVID-19 crisis and the aftermath of racial and political unrest? In this episode of the Principled Podcast, host Susan Divers, Director of Thought Leadership and Best Practices with LRN’s Advisory group, talks about how values can sustain ethical performance—and even excel—in the face of change and adversity with Forrest Deegan, Vice President of Ethics and Compliance for Victoria's Secret. Listen in as the two draw insights from the 2022 edition of LRN’s annual Ethics & Compliance Program Effectiveness Report—available now to download.

 

What You’ll Learn on This Episode:

[2:17] - Reflections on the findings of LRN’s 2022 Ethics and Compliance Report.

[7:20] - The impact of core values vs. rules.

[9:02] - The surprising data and how access to data can drive improvements in collaboration.

[12:00] - The curse of compliance.

[13:22] - The two driving factors in demystifying your values and how boards discuss value.

[17:15] - What is causing ethics and compliance to lag behind in innovations compared to other departments?

[22:30] - The innovations of customized, remote-accessible training.

 

Additional Resources:

Get the 2022 Ethics & Compliance Program Effectiveness Report.

Subscribe to E&C Pulse, the LRN newsletter offering weekly insights on ethics, compliance, corporate culture, and reputation.

Visit us for more information at lrn.com.

 

Featured guest:

As of July 2021, Forrest is the VP of Ethics and Compliance for Victoria’s Secret & Co., responsible for overseeing the global ethics and compliance program. Forrest spent the prior six years as the first Chief Ethics and Compliance Officer for Abercrombie & Fitch Co., where he built A&F’s corporate compliance and third-party risk management programs. Forrest serves on the Editorial Advisory Board for Compliance Week and has served on the Leadership Team for the Retail Industry Leaders Association (RILA) Compliance Council. Forrest regularly speaks at national compliance conferences and international events, including those sponsored by RILA, Compliance Week and the Association of Corporate Counsel. Forrest was selected by Compliance Week as a “Top Mind" for 2018.

Forrest previously served as the Director and Senior Director of Compliance at A&F, where his responsibilities included a wide range of compliance program assessment, training and enhancement projects as well as international business development via joint venture and franchise.

Prior to moving in-house, Forrest worked for nine years at Arnold & Porter in Washington D.C., representing multinational pharmaceutical, financial and consumer products companies in advocacy and consulting capacities. Forrest clerked for Judge Kazen on the U.S. District Court for the Southern District of Texas, after receiving his J.D. with honors from Duke Law School and his B.A. from the University of Texas at Austin.

 

Featured Host: 

Susan Divers is a senior advisor with LRN Corporation. In that capacity, Ms. Divers brings her 30+ years’ accomplishments and experience in the ethics and compliance area to LRN partners and colleagues. This expertise includes building state-of-the-art compliance programs infused with values, designing user-friendly means of engaging and informing employees, fostering an embedded culture of compliance and substantial subject matter expertise in anti-corruption, export controls, sanctions, and other key areas of compliance.

Prior to joining LRN, Mrs. Divers served as AECOM’s Assistant General for Global Ethics & Compliance and Chief Ethics & Compliance Officer. Under her leadership, AECOM’s ethics and compliance program garnered six external awards in recognit