Mon, Aug 16, 2021

Collaboration: A Strategic Step Forward

Episode 2
Collaboration: A Strategic Step Forward

In this second episode of Through The Lens, Kroll Chief Strategist Chris Campbell speaks with Jocelyn Moore, a current member of the DraftKings board of directors. Jocelyn shares her thoughts on how she has used her background in politics, negotiating and finding common ground to shape the strategic outlook and overview for boards and board room discussions.

Chris is a frequent guest commentator on national news programs on matters involving the economy. Prior to Kroll, Chris was unanimously confirmed by the U.S. Senate to serve as the Assistant Secretary of the Treasury for Financial Institutions, where he was responsible for coordinating efforts regarding legislation and regulation of financial institutions. He also represented the department on the boards of the Pension Benefit Guarantee Corporation and the Financial Industry's Critical Infrastructure Group. Chris has held the role of majority staff director to the U.S. Senate Committee on Finance, was named multiple times by Roll Call Newspaper as one of the 50 most influential staffers on Capitol Hill and served as legislative director to Senator Orrin G. Hatch. He currently serves as a director for multiple organizations.

Jocelyn Moore is a member of the DraftKings board and a previous member of the U.S. Senate Finance Committee, where she served alongside Chris Campbell. She is currently a venture partner at Ozone X Ventures in New York and serves as the executive-in-residence at The Gathering Spot in Atlanta. With experience working across multiple disciplines, Ms. Moore advises CEOs, executive teams, and boards of directors on strategic communications, crisis and risk management, regulatory affairs, corporate social responsibility, operations, organizational change, and diversity. In addition to DraftKings, she serves on the board of directors for several other organizations.

Passages from the Episode

“Is there something specifically about the for-profit world that the government world could learn from?” – Chris Campbell

“The innovation, and the creativity, and the time efficiency that happens in the private sector, I think the government could really learn a lot from.” – Jocelyn Moore

Problem-Solving to Change the World

“Although being on separate sides of the aisle, political aisle, certainly I think we did everything we could to try to find ways of bridging the gap. And as you noted, it's something that's really, unfortunately, lacking in today's politics.” – Chris Campbell

“Negotiations that really led to NAFTA 2.0, that President Trump ultimately worked with Congress and Congressional Democrats to sign the law. Well, we set the groundwork for that. And you remember working with disparate Democrats, disparate Republicans, everybody having their own plan, but we found a way to really come together and bring people together in the House and the Senate.” – Jocelyn Moore

“And one of the lessons I think that was applicable to what we do now in corporate governance, is really the art of the compromise. And it's funny that you should mention starting to work with Senator Al Miller. The interesting fact that most people probably don't know is, our office, and I didn't learn this really until ... I was there for a while and people started sharing more about themselves, but half of the folks who worked in our office were Democrats and the other half were Republicans. And it didn't matter, we were all working in services to the people of Georgia. Can you imagine that now? Given everything that's happening in the political landscape in Georgia, and otherwise, just that sense of, we were working together on a common cause. We may have approached that common cause from different vantage points, but we always kept that common goal in mind when we were negotiating. And so, it wasn't about, "I don't like you, because you have this opinion." Or that. It was about that common goal and moving toward it.” – Jocelyn Moore

The ESG Global Impact

“This orientation, this reorientation on ESG and the regulatory environments coming not only in the sectors that you're involved in, which healthcare and kind of fintech or online gaming, and in banking and the other things that we did on Capitol Hill, but in so many others like technology, and so many others that are coming down the pike. And so, you see the significant reorientation of perhaps new regulations coming and a lot of those regulations being somehow anchored in some kind of ESG metric. And so, I'd love to see what you're hearing and what you're thinking about how that's going to go, and how you see this unfolding over the next several years. And what kind of things companies should be thinking about as these new things unfold, and what's your advice you're giving to your clients within the boardrooms?” – Chris Campbell

“We've seen kind of this international coalescing around impact. And how do we judge impact? What is impact? How do we finance impact? What does it actually mean? And a lot of that was focused for many years on the E part of ESG. But in recent years we've seen, certainly with COVID-19, but also the social unrest that we've seen and the racial reckoning over the last year, there's much more of a focus on the S and the G.” – Jocelyn Moore

“So, I think a lot more of the focus, not only institutional investors, consumers who can go on the internet and find out what companies stand for and what they're doing in the public sphere, employees who are saying, "I want to work for a company that mirrors my values." Whatever those values are. Those are all the things that companies are having to grapple with.” – Jocelyn Moore

The Future of Corporate Governance

“What do you think is one of the largest governance challenges you see at DraftKings…what are some of the bigger challenges coming down the road, in the next perhaps one to five years that you see happening, and that's going to really drive the ways that corporations are governed?” – Chris Campbell

“Well, one big challenge, and we've alluded to it a little bit, is the future of work. And I think COVID-19 has exposed employee patterns that, our employees drive everything. By how we interact with our customers, they're the ones that, they're our ambassadors, and how the future of work unfolds in a variety of ways. We saw the gig economy kind of unfolding prior to COVID. Well now, we have essential workers. We have technology companies that have completely abandoned their office space, and everybody's going to go remote. I think there are a lot of questions and lessons to be learned about what are the employee patterns and behaviors that we need to pay attention to?” – Jocelyn Moore

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Reputational Risk

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