Normalizing the Conflicts of Interest Challenge in Business Relations
About the Course
Conflicts of interest have become an unavoidable reality, as work and personal sphere become more intertwined and as with increasingly interconnected world they play a crucial role, influencing not just workplace culture, but also the reputation and brand of an organization, and naturally are becoming a key point on board's risk management agenda.
This conflict of interest course covers some of the most common examples of conflicts of interest, as well as some scenarios in which the conflict of interest may not be so obvious. The course content equips managers and compliance professionals, with insights to prevent, detect, and address conflicts of interest. Suggested training and communication tools, will give real insight into how employees feel about the transparency and ethical concepts and company culture
Training pillars
Key concepts within this course:
What conflicts of interest are and how they can influence decision-making and reputation.
Basic and most common examples of risky conflicts of interests and nepotism
How even the perception of a conflict of interest can hurt the trust and reputation of the people involved.
Common conflicts of interest related to personal ties, financial interests, and outside activities
Guideline on building and executing procedures for raising conflict of interest, where organization specifies:
What are conflicts of interest?
Examples of conflicts of interest and red flags
Industries with higher exposure to conflict of interest risk
Higher risk areas: Procurement and dealing with suppliers
Higher risk areas: Second jobs and external assignments of employees
Higher risk areas: HR: recruitment, promotion and work relationships
How avoid conflicts of interest
When to respond to conflicts of interest
Actions to resolve conflicts of interest
Tone from the top - the role of the board
Practical guidance, where through workplace scenes that show employees how these issues can be raised and often easily resolved.
Importance of Whistleblowing in detecting conflict of interest
Strong bond between conflicts of interest & corruption
Common misconceptions around conflicts of interest
Goals
The course objectives are to provide practical strategies for identifying, preventing, and effectively managing conflicts of interest. This course is a key step for organizations to make the right choice to ensure normalizing conflicts of interest and foster ethical decision-making and enhance organizational transparency. Mature risk and compliance programmes appreciate the importance of conflicts of interest policy to a company and its clients.
Benefits
This course will help the participants to identify a conflict of interest, recognise a variety of situations in which conflicts of interest arise, and know when to react or report a conflict of interest. Enroll to this course and learn the tools and techniques to ensure compliance, prevent misconduct, and mitigate risks within organizations. All mentioned are essential to foster a culture of ethical conduct and accountability in an organization. This is a first and vital step to address conflict of interest risk within the organization, and business sector.
Real life cases
The course offers an opportunity of understanding how in practice conflicts of interest emerge in daily business undertakings and how to normalise those sensitive circumstnaces. Participants get insight into actual COI situations and learn how to change the way an organisation may perceive and manages mentioned conflicts. It is a unique chance for a deep dive on multiple real-life scenarios, and undercast how to normalise COI risk and help increasing company resilience. This course provides an outlook of best practices and some good advice on how to safeguard business from nontransparent situations.
Training recipients
Compliance Officers
In house Lawyers
Procurement Experts
Internal Finance Professionals
Board Members
Auditors
Schedule
On Demand