3. Upon completion of this course the user will be able to:
Overview of global financial system.
List the principles of global financial system
Describe when an employee should speak up?
Describe how an employee should speak up?
List the potential outcomes when an employee speaks up?
Course Introduction - Learning Objectives
4. Course Introduction - Overview of Global financial system
The global financial system is the worldwide
framework of legal agreements, institutions,
economic actors (both formal and informal)
that together facilitate international flows of
financial capital for purposes of investment
and trade financing.
5. Scenario
Jammie is a business professional,
who started a new financial sector.
She met an adviser who has masters
in organisational legal and ethics to
build strong ethics and integrity in
her business. Let’s look at the
conversation between them.
6. Hi John! Thanks for meeting me here
today. I have opened a new financial
sector and want to protect and follow a
strong culture of strong ethics in my
business along with my employees. Do
you have strategies on how to achieve
this?
Of course, I could do that! I did
obtain a Master’s degree in Ethics
and Integrity.
We have a critical role to
play in safeguarding the
global financial system, so
we must maintain a
culture of strong ethics,
integrity, transparency and
openness. The first
important step is to
implement control
procedures.
The next equally important step is
to identify risks and monitor
weaknesses like certain employee
behavior and the financial system
to improve them.
That is a good point! Misconduct is
damaging for everyone. It exposes the
global financial system to significant
risks and can damage our financial
performance, reputation and the trust
of everyone who has an interest in
our business.
Scenario
7. Agree! By employees speaking
up help us to identify issues and
resolve them.
So, I should really motivate my
employees with philosophy and
ethics! Got it!
A good control environment is
created through effective
personnel policies like motivating
the employees to speak up when
they see anything which doesn’t
feel right. All these is possible by a
good managements drive to
achieve goals.
Gathering information about each element and
analysing external conditions help management decide
how to operate moving forward. You do not need to be
certain that misconduct has occurred before Speaking
Up, if you have done so honestly and in good faith.
Remember, the Bank will not tolerate any form of
victimisation against you for Speaking Up. Victimisation
is viewed seriously and is grounds for disciplinary action.
Ok…now I understand how
important Ethics are for a
business. Thank you very
much for explaining.
Scenario
8. Scenario
Jammie is now understood the
critical role to play in safeguarding
the global financial system. Here is
some more information on the
principles of ethics in the financial
system.
9. Principles of global
financial system
The main goal of these banking ethics principles is to safeguard material
damages and losses and to supervise public benefits and social value in
environmental protection.
Integrity
Reliability
Transparency
Openness
Neutrality
10. When should you speak up (1/2)?
Speaking Up is a safe, confidential way to let us know if you see anything which doesn’t feel right. Some
examples of when you should speak up include if you see anyone:
Violation of ethical
standards
Violation of
Organizational polices
Abusive Behavior Discrimination
11. When should you speak up (2/2)?
Continuation….
Misuse of confidential
information
Bribery Theft Sexual harassment
16. Knowledge Check – Question 1
Behaving ethically can _____
A. Lower likelihood of lawsuits and criminal
charges
B. Reduce transaction costs
C. Lead to higher market value
D. All of the above
17. Knowledge Check – Question 2
Ethical systems (better examples and reduced systemic conflicts) have been shown to
reduce unethical behavior
A. True
B. False
18. Knowledge Check – Question 3
Which of the following are potential ethical issues in the workplace?
I. Bribes
II. Harassment
III. Whistleblowing
A. I, II and III
B. I only
C. II only
D. I and II only
19. Knowledge Check – Question 4
After you've identified an ethical issue in the workplace, you should proceed to _____.
A. Evaluate it
B. Resolve it
C. Hide it
D. Ignore it
20. Knowledge Check – Question 5
How can you work to resolve ethical issue in the workplace?
I. Consult a superior
II. Consult the company handbook
III. Understand the law surrounding the issue
A. I, II and III
B. I only
C. I and II only
D. III only
21. That brings us to the end of
this course. Thank you for
taking this course!
Editor's Notes
Welcome to the short module on Safeguarding the global financial system.
This trainings is recommended for all the users of the organisation and provides an overview of the global financial system, essential principles of the global financial system, and how to safeguard the global financial system.
On completion of this learning program, you should be able to understand:
Overview of global financial system;
List the principles of global financial system;
Describe when an employee should speak up?;
Describe how an employee should speak up?;
List the potential outcomes when an employee speaks up?;
The global financial system is the worldwide framework of legal agreements, institutions, economic actors (both formal and informal) that together facilitate international flows of financial capital for purposes of investment and trade financing.
Let us understand this with a scenario.
Jammie is a business professional, who started a new financial sector. She met an adviser who has masters in organisational legal and ethics to build a strong ethics and integrity in her business. Let’s look at the conversation between them.
Female: Hi John! Thanks for meeting me here today. I have opened a new financial sector and want to protect and follow a strong culture of strong ethics in my business along with my employees. Do you have strategies on how to achieve this?
Male: Of course, I could do that! I did obtain a Master’s degree in Ethics and Integrity.
Male: We have a critical role to play in safeguarding the global financial system, so we must maintain a culture of strong ethics, integrity, transparency and openness. The first important step is to implement control procedures.
Male: The next equally important step is to identify risks and monitor weaknesses like certain employee behavior and the financial system to improve them.
Female: That is a good point! Misconduct is damaging for everyone. It exposes the global financial system to significant risks and can damage our financial performance, reputation and the trust of everyone who has an interest in our business.
Male: A good control environment is created through effective personnel policies like motivating the employees to speak up when they see anything which doesn’t feel right. All these are possible by a good managements drive to achieve goals.
Female: Agree! By employees speaking up help us to identify issues and resolve them.
So, I should really motivate my employees with philosophy and ethics! Got it!
Male: Gathering information about each element and analysing external conditions help management decide how to operate moving forward. You do not need to be certain that misconduct has occurred before Speaking Up, if you have done so honestly and in good faith. Remember, the Bank will not tolerate any form of victimisation against you for Speaking Up. Victimisation is viewed seriously and is grounds for disciplinary action.
Female: Ok…now I understand how important Ethics are for a business. Thank you very much for explaining.
Jammie is now understood the critical role to play in safeguarding the global financial system. Here is some more information on the principles of ethics in the financial system.
The main principles of the global financial system are Integrity, Reliability, Transparency, Openness, and Neutrality.
The main goal of these banking ethics principles is to safeguard material damages and losses and to supervise public benefits and social value in environmental protection.
Let us see why an employee should raise their voice, or concerns when they see anything which doesn’t feel right.
Speaking Up is a safe, confidential way to let us know if you see anything which doesn’t feel right. Some examples of when you should speak up include if you see anyone:
Failing to comply with laws or legal obligations, including committing fraud or other criminal acts
Failing to comply with codes of conduct, Group, business or country policies and procedures
Abusive behavior
Victimising/Discriminating anyone for having spoken up
At times, organisations have failed to conduct investigations that identify all pertinent facts of alleged misconduct.
If you are unhappy with your conditions of employment or the way you are being treated, for example you feel bullied, harassed, or discriminated, please speak with your line manager, human resources or raise the issue under the Employee Grievance Procedures.
In this slide, let us see how an employee can raise their voice or concerns.
There are a number of ways you can raise known or suspected concerns:
Speak to someone in your line management chain, who may be your line manager
Speak to someone outside of your line management chain, for example your Country Head of Compliance or a member of country senior management
Send an email to xyz.com, which is an email address managed by Group Shared Investigative Services
Investigation: When you raise your concern, it will be passed to investigative services to determine if it is in or out of scope of the speaking up program.
Identify Type of Risk: Out of scope concerns will be referred to an appropriate area of the bank for consideration. For in-scope concerns, an independent, appropriately experienced senior colleague will consider the report.
Acknowledge and Implement controls: They will acknowledge that they have received your report and you may receive periodic updates on the progress.
Thank you for taking this training.
Now it’s time to take a short quiz. Please click on the Quiz button to proceed.
This quiz consists of 5 questions.
The passing score for the quiz is 80%.The number of attempts is 2.Click the START button to begin.
That brings us to the end of this course. Thank you for taking this course!
