Donna Boehme & Leona Lewis – Masters of Disaster Podcast – June 27, 2016
Donna Boehme discusses the evolution from “Compliance 1.0” to “Compliance 2.0.” Compliance 1.0 was incorrectly structured as a captive arm of the Legal Department. Compliance 1.0 was a flawed model because it did not recognize the independent mandate, skill set and needed for empowerment that a Compliance department needs to be effective. Compliance 1.0 also lead to big compliance disasters found in recent headlines. Compliance 2.0 closes the gaps of Compliance 1.0 and builds a well-designed program to prevent misconduct. We also discuss the example of the Volkswagen emissions scandal as an illustration of how the evolution of compliance is needed. Investors and governments do not look at a compliance problem in isolation, but how that problem may indicate more widespread issues.