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Corporate culture definition1/7/2024 ![]() ![]() The hire-to-retire life cycle: The organization recruits and screens employees based on character, as well as competence. Accountability: Senior leaders hold themselves and those reporting to them accountable for complying with the law and organizational policy, as well as adhering to shared values or organizational values. Comfort speaking up: Employees across the organization are comfortable coming forward with legal, compliance, and ethics questions and concerns without fear of retaliation. They often use the power of stories and symbols to promote ethical behaviors. Middle managers who carry the banner: Front-line and mid-level supervisors turn principles into practice. Consistency of messaging: Operational directives and business imperatives align with the messages from leadership related to ethics and compliance. Tone at the top: Executive leadership and senior managers across the organization encourage employees and business partners to behave legally and ethically, and in accordance with compliance and policy requirements. Organizational values: A set of clear values that, among other things, emphasizes the organization’s commitment to legal and regulatory compliance, integrity and business ethics. “In the long run, a positive culture of integrity is the foundation for an effective ethics and compliance program, which, when properly embedded into an organization, can create a competitive advantage and serve as a valuable organizational asset,” says Keith Darcy, an independent senior advisor to Deloitte & Touche LLP’s Regulatory and Operational Risk practice.Ī culture of integrity also is generally characterized by: Strong cultures have two elements: A high level of agreement about what is valued and a high level of intensity with regard to those values. “Many regulators now realize that without a culture of integrity, organizations are likely to view their ethics and compliance programs as a set of check-the-box activities or-even worse-as a roadblock to achieving their business objectives,” Ms. ![]() “Organizations responsible for some of the most egregious acts of malfeasance have had quite impressive, formalized ethics and compliance guidelines,” says Nicole Sandford, Regulatory and Operational Risk Market leader for Deloitte Risk and Financial Advisory, Deloitte & Touche LLP. Ethics and compliance programs, as traditionally designed, are often not enough. ![]()
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