There is a Group-wide compliance function in order to ensure compliance with legal, regulatory and internal regulations as well as the Group’s ethical standards, in particular by preventive measures, training, information and consulting.
Oerlikon has in place an Integrity Due Diligence (IDD) process with a trained, responsible person in each Business Unit accountable for the assessment of business partners by performing reviews of their reputation, length of operation and track record. The company has reduced the risk of infringements by working with our business partners and having them comply with our Code of Conduct.
The Compliance program has a three-pillar framework:
- Prevention through policies, directives, training, Code of Conduct, risk assessments, maturity assessments, compliance councils, internal controls and metrics, examples and Q&As during all employee meetings.
- Early detection: the “whistleblowing” hotline, continuous compliance reviews, controls and internal audits, allegation management process.
- Response: disciplinary action on compliance breaches, process adaptation, resolution plans, remediation of internal control system, fine-tune policies
In 2013, a regional compliance conference took place, which met its objectives of reinforcing the program and the sharing of best practices.
The eLearning program was rolled out in 2013 and includes modules on antitrust, anticorruption and Code of Conduct. The new Export Control module will be launched in 2014.