Compliance

 

The Compliance department ensures that new laws and regulations are implemented at all levels within NIBC. Staff are made aware of any legislative changes, and Compliance ensures that steps are taken to act in accordance with them.

 

The compliance function aims to help ensure NIBC and its employees adhere to external legislation and internal procedures that are intended to promote sound behaviour and ethical standards.

 

Sound behaviour and ethical standards can only be achieved if staff members are sufficiently informed about and aware of compliance issues.

To this end, the compliance function within NIBC establishes clear procedures and creates awareness through training and compliance consultancy.

 

The main developments of 2009 were:

• A complete update of the NIBC compliance framework. This entailed updating all compliance manuals and procedures within all jurisdictions of NIBC; and
• The implementation of a training project within NIBC in cooperation with the European Institute for Business Ethics of Nyenrode Business University. The focus was on integrity as a professional responsibility. It used a format of ‘dilemma workshops’ which were based on reflection training.