A revolutionary approach to identify, document, evaluate and report on employee interests and potential conflicts of interest
Conflicts of interest may arise where an individual’s personal or family interests and/or loyalties conflict with those of the organisation. As a general rule, no conflict between the personal interests of members of a governing body and the interests of the organisation which they serve should be allowed.
Where a potential conflict of interest cannot be avoided, it has to be managed in such a manner as to ensure that the interests of the organisation are at all times protected. It is for this reason that the law in certain instances as well as best practice recommendations call for disclosure of interest in any matter on the agenda of the governing body or any of its committees.
Considering that a matter may not necessarily find its way onto the agenda of the governing body and/or its committees, it is recommended that each member of a governing body submits a general declaration of interests that could assist the organisation in identifying potential conflicts between its interests and that of the members of its governing body or parties related to such members.
Correctly managing a conflict of interest could be of value and assistance to a member of the governing body wishing to rely on the business judgement rule as part of his defense in the event of legal action being taken against him in his capacity as a member of the governing body.
Digitally drive the declarations process involving all affected stakeholders at the appropriate time and reducing the administrative burden of identifying and managing potential conflicts
Declarations enables you to record and manage a wide variety of declaration types configured to your organisation's requirements.Gifts and Hospitality
Employee roles, relationships and activities
Personal Commercial Interests
Directorships (and other roles)
Close personal relationships with other employees
Close personal relationships with employees in other organisations
Non-commercial interests and charity work
Employee financial interests and activities
Investments (and/or investment breaches)
Interests with third parties
The highly configurable nature of Declarations means that your administrators can configure the solution to meet your specific requirements. For example, administrators can work with the following:
- Set up user lists for special users (Compliance Managers and Administrators)
- Set types of declarations required from staff in your organisation
- Define routing and approval paths for different types of declarations
- Define a wide variety of gifting rules and approval limits
- Build and maintain a list of related entities (suppliers, customers, trading partners, etc)
- Build lists of prohibited and “watch-list” entities
- Set up lists for “special category users”
- Support multiple currencies and multiple geographic locations
- Define your own privacy statement and labels used throughout the system
It’s easy and intuitive to use
- Users can access and track approval status of all declarations from their personal dashboards
- Users can appoint proxies to make declarations on their behalf (and then approve these after the fact)
- Easily and securely store and retrieve documents related to your declarations
- Where users are asked to approve items, these are presented in one, easy to manage location
- Invite others users to review and comment (or approve) items declared
- Bulk approvals and secondary review/release of these approvals
- Administrators can act as proxies to rapidly upload bulk information
- Search, track and trace on persons and organisations
- Accessible from anywhere in the world … make declarations as the event happens!
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