Integrity leadership and Culture building
2019 became a record year for international companies being sanctioned for Anti-Corruption breaches. To resolve cases involving breaches of the US Foreign Corrupt Practices act (FCPA) only, companies paid billions in sanctions. In addition comes the cost of lost reputation and remediation.
Banks and financial institutions have experiences major scandals being targeted for involvement in international bribery and money laundering transactions, with allegedly criminal collusion by individuals of the organizations. A dysfunctional culture seems to breed the sort of scandals that top the headlines and is becoming a regular media issue of high attention.
To promote an organizational integrity leadership and culture that encourage ethical conduct, and a commitment to the agreed core values and unique company code of conduct, the processes of implementing Integrity Leadership Programs (ILP) and Integrity Culture Building (ICB) must prove the impact of bad culture (storytelling), learn how leadership can influence culture (role modeling), building ethical conduct through communication strategies (spread the message and ethical messaging within all financial target communication) and tackle the specific barriers that might come to surface during the processes (fine-tune the effort).
Processes
Status analysis
Storytelling – knowledge sharing for BoD and management
Measuring program effectiveness – integrity survey: Ethics@Work
Target setting and communications
Staff involvement
Recruitment
Objectives
Verbal role modeling
Action role modeling
Performance evaluations and integrity reward and recognition system