The methodology is even adopted in every re-engineered project to cause minimum plant disruption. Our infrastructure is fully equipped with all necessitates to effective follow and employ this project methodology.
Risk Management & Compliance
Identifying, analyzing and responding appropriately to business risks is vital to attaining Vbtech’s business objectives and meeting legal requirements.
The Vbtech Risk Management Policy sets out our approach for managing material risks – the possibility that an event will occur and adversely affect the achievement of Vbtech’s objectives.
Risks are managed locally where they arise and where we have appropriate expertise for managing them. Line managers are responsible for ensuring that appropriate action is taken and effective internal controls are in place.
At least once a year, every business unit and global function must conduct a risk assessment and develop processes for identifying and managing material risks. These risk plans are integral to our overall business plans, which we review together with the risk management environment in regular performance assessments.
We continue to strengthen our business continuity management (BCM) to ensure that all our sites respond effectively to catastrophic events and deliver a minimum, acceptable level of key products and services. A Group BCM policy and guideline is in place, facilitating a consistent and aligned local implementation. We are currently rolling out the new BCM framework across the Group to make sure Vbtech’s operations are resilient and capable of effectively responding to major disruptions.
We seek to avoid situations where personal interests conflict, or even appear to conflict, with the interests of Vbtech. If a conflict of interest arises, the employee must immediately inform their superior to find an appropriate solution.
The Corporate Sustainability Committee is responsible for assessing social, environmental and ethical risks. These are identified through regular workshops involving a wide range of employees, who use their expertise and experience, as well as customer feedback, to identify emerging risks.
The Chief Compliance Officer serves as a contact person for all customers on complaints relating to suspected violations of our Code of Conduct. We have dedicated team of compliance officers who liaise with the Chief Compliance Officer and are responsible for a broad range of risk reporting and compliance functions, including
- performing compliance risk assessments with management teams
- conducting compliance training
- ensuring employees understand how to raise compliance concerns
- documenting ethical incidents and taking steps to address and remedy the situation
In addition, Vbtech uses a Marketing and Sales Compliance questionnaire to help local managers assess compliance with and awareness of responsible marketing practices
Our Business Ethics Incident Reporting system enables to capture, track and monitor alleged violations, from initial reports through to resolution. We encourage employees to report all suspected violations of our Code of Conduct and other wrongdoings.