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Activities and Responsibilities for SayProRoyal-4 SayPro Royal Board Ethics and Compliance Committee
| Ethics Program Oversight |
| Develop Ethics Policies: Create and update policies related to ethical conduct and behaviour |
| Code of Ethics: Establish, review, and promote the organization’s Code of Ethics |
| Ethics Training: Implement and oversee ethics training programs for employees and management |
| Ethics Resources: Provide resources and tools to support ethical decision making |
| Compliance Program Management |
| Compliance Policies: Develop and update compliance policies to ensure adherence to laws and regulations |
| Regulatory Requirements: Monitor changes in laws and regulations affecting the organization and update compliance programs accordingly |
| Compliance Training: Conduct training programs on regulatory compliance for employees and management |
| Compliance Resources: Provide resources to help employees understand and comply with regulatory requirements |
| Risk Assessment and Management |
| Identify Risks: Identify and assess risks related to ethical and compliance issues |
| Mitigation Strategies: Develop and implement strategies to mitigate identified risks |
| Risk Monitoring: Continuously monitor and review risks and mitigation efforts |
| Incident Reporting: Manage and investigate reports of ethical or compliance violations |
| Monitoring and Auditing |
| Compliance Audits: Oversee regular audits to assess compliance with internal policies and external regulations |
| Ethics Audits: Conduct audits to evaluate the effectiveness of the ethics program |
| Monitoring Systems: Implement and monitor systems to track compliance and ethical behaviour |
| Audit Reports: Review and act on findings from audit reports related to ethics and compliance |
| Investigation and Resolution |
| Investigate Violations: Investigate alleged ethical or compliance violations and determine appropriate actions |
| Resolution Process: Develop and oversee processes for resolving compliance and ethical issues |
| Disciplinary Actions: Recommend or oversee disciplinary actions for violations of ethics or compliance policies |
| Remediation Plans: Develop and implement remediation plans to address issues identified in investigations |
| Whistleblower Protection |
| Whistleblower Policies: Develop and enforce policies to protect whistleblowers who report ethical or compliance concerns |
| Reporting Mechanisms: Establish confidential reporting mechanisms for employees to report concerns |
| Whistleblower Support: Provide support and protection for whistleblowers to ensure they are not retaliated against |
| Investigate Reports: Investigate whistleblower reports and address issues raised |
| Ethical Leadership and Culture |
| Promote Ethical Culture: Foster a culture of integrity and ethical behaviour throughout the organization |
| Leadership Example: Ensure that senior leadership exemplifies ethical behaviour and supports the ethics program |
| Ethical Decision Making: Promote ethical decision making and problem solving practices across the organization |
| Compliance with International Standards |
| Global Regulations: Ensure compliance with international laws and regulations applicable to the organization |
| Cross Border Issues: Address ethical and compliance issues related to international operations |
| Global Training: Implement compliance and ethics training programs tailored to different regions |
| Policy Development and Review |
| Policy Creation: Develop new policies related to ethics and compliance as needed |
| Policy Review: Regularly review and update existing policies to ensure they remain relevant and effective |
| Policy Communication: Communicate changes in policies to all relevant stakeholders |
| Stakeholder Communication |
| Internal Communication: Ensure effective communication of ethics and compliance policies within the organization |
| External Communication: Manage communication with external stakeholders regarding ethics and compliance matters |
| Feedback Mechanisms: Establish mechanisms for receiving and addressing feedback from stakeholders on ethics and compliance issues |
| Performance Metrics and Reporting |
| Track Metrics: Develop and track metrics to measure the effectiveness of ethics and compliance programs |
| Reporting: Provide regular reports to the board and senior management on the status of ethics and compliance efforts |
| Continuous Improvement: Use performance data to identify areas for improvement and enhance the ethics and compliance program |
| Legal and Regulatory Liaison |
| Regulatory Interaction: Liaise with regulatory bodies and legal authorities on compliance and ethics matters |
| Legal Advice: Seek legal advice on complex ethical or compliance issues |
| Regulatory Updates: Stay informed about changes in laws and regulations that impact the organization |
| Ethics and Compliance Committee Charter |
| Charter Development: Develop and maintain the committee’s charter, defining its roles and responsibilities |
| Charter Review: Regularly review and update the charter to reflect current practices and regulatory requirements |
| Charter Communication: Ensure that the charter is communicated to and understood by relevant stakeholders |
| Training and Development |
| Committee Training: Ensure that committee members receive training on ethics, compliance, and regulatory issues |
| Knowledge Sharing: Share knowledge and best practices related to ethics and compliance with the broader organization |
| Ongoing Education: Provide ongoing education opportunities to keep committee members informed of emerging issues and trends |
| Collaboration with Other Committees |
| Coordination: Collaborate with other committees, such as the Audit Committee and Risk Management Committee, to address overlapping issues |
| Information Sharing: Share relevant information and findings with other committees to ensure comprehensive oversight |
| Ethical Conduct in Business Relationships |
| Vendor Compliance: Ensure that vendors and business partners adhere to the organization’s ethical standards |
| Third Party Audits: Conduct audits of third parties to assess compliance with ethical and regulatory requirements |
| Contractual Obligations: Review and enforce ethical conduct clauses in contracts with third parties |
| Continuous Improvement |
| Program Evaluation: Regularly evaluate the effectiveness of ethics and compliance programs |
| Best Practices: Implement best practices and innovations to enhance the ethics and compliance function |
| Feedback Utilization: Use feedback from employees and stakeholders to continuously improve ethics and compliance efforts |
| Emergency Response |
| Crisis Management: Develop and oversee response plans for ethics or compliance related crises |
| Incident Management: Manage and coordinate responses to urgent or high impact compliance incidents |
| Recovery Plans: Develop recovery plans to address and rectify issues arising from ethics or compliance crises |
| Documentation and Record Keeping |
| Record Maintenance: Maintain comprehensive records of ethics and compliance activities, investigations, and decisions |
| Documentation Standards: Ensure that documentation practices comply with regulatory requirements and best practices |
| Access Control: Manage access to sensitive documents and records related to ethics and compliance |
| External Review and Benchmarking |
| External Assessments: Engage external consultants or auditors to assess the effectiveness of the ethics and compliance program |
| Benchmarking: Benchmark the organization’s ethics and compliance practices against industry standards and best practices |
| Recommendations: Review and act on recommendations from external assessments and benchmarking activities |