SESSION 4 “Managing Ethics & Compliance Risks Effectively”
Risk analysis is a common practice in both business and public sectors. Ethics and compliance risk analysis is only one type of assessment of this kind, highly familiar to major companies and multinationals, but less used by middle-sized and small organisations. Nonetheless, a good risk analysis is nothing without active management and mitigation of those risks and vulnerabilities.
The opening session of the 2016 Romanian Ethics & Compliance Forum will include three presentations focused on the best ways to mitigate ethics & compliance risks and strengthen the organisational resistance to internal and external negative impact factors. The aim of this section is to go beyond conformity and see the benefits of pro-active attitude towards corporate integrity, transparency and accountability.
Session Chair: Alex Șerban (Șerban & Musneci)
Forum Agenda | February 11, 2016
Prevention through Compliance – A “Better Safe than Sorry” Story
Romanian Competition Council
Overcoming Legal Challenges of Compliance Programs and Investigations
DLA PIPER Romania
The presentation will underline the relation between risk management as a framework, compliance risk management and the legal risks mostly encountered.
The components of risk management, such as risk identification, risk assessment, risk response and risk monitoring/control will be tackled in relation with compliance aspects. From this perspective we will address also the main legal risks derived out of compliance risk and the tools we need to deal with them in a proper way. We will analyze the investigation, as one of many tools and its importance in compliance, not just for identifying the wrong-doer or the fact itself, but to extract learning’s and to do’s in order to prevent other such types of facts.
Antitrust Compliance Programs from Identifying the Risk to Mitigating the Exposure
Țuca Zbârcea & Associates
In order to mitigate a risk you need first to identify it. Practice shows that an important part of the sanctioned anticompetitive practices is based on ignorance, poor knowledge of competition rules and serious effects of non-compliance by the company’s employees. Are tick-box programs sufficient? Are compliance standards clearly established and sufficiently widespread within the organization? Diversified methods to teach and test employees are required for an effective compliance program. Identifying the risk zones need more sophisticated tools while risk management needs to take into account losses at financial, reputational, market trust damages.
Ethics in Pharma Industry – Can be the Self-regulation through Ethical Codes a solution to correct the bad behaviours and to increase the thrust in the pharmaceutical industry?
Romanian Association of International Manufacturers of Medicine (ARPIM)
Pharmaceutical industry is one of the most controversial industries of the beginning of the 21st century. Since many years, un-ended debates are taken place in the public space trying to show the lack of ethics in the behaviours of this industry. The subject is enriched by juicy stories brought up by journalists all over the world. What is truth and what is false in this stories and how is affected the thrust in medicines by the doubt related to the lack of ethics? These are good questions and if we want to be able to find the right answers, we have to understand which are the mechanisms that are helping this industry to be successful sometimes even in very hostile environments.
But what is trying to do the pharmaceutical industry in order to build thrust in the relationship with its own stakeholders? This is a question that we might find the answer now!