Veronique Roedolf, the Brussels-based Chief Compliance Officer at Solvay, was focused on developing and enhancing the compliance program. As she shares in this podcast, the company evolved their efforts and developed what they call a “Four Cluster Compliance Program.” The clusters are:
Protecting a Culture of Integrity
A culture of integrity, as they defined it internally, is about not just following the law but also acting with integrity according to the organization’s values.
Building a Strong Speak-Up Culture
Here they sought to raise the bar, overcome regional differences and help everyone understand that speaking up is not a negative thing. When done in good faith it enables the culture of integrity.
Increasing Third Party Oversight
These days every organization is only as strong as its weakest third party. Due diligence was expanded to include human rights and environmental issues.
Addressing and Mitigating Risk
Compliance and risk management are very much connected. The goal was to detect and address a broader spectrum of risk in an early stage.
Overall the focus is on prevention, which goes hand in hand with being more efficient and effective as a compliance program.
To achieve their goals they worked to become more embedded in and supportive of the business. They secured management commitment by involving leadership from the start. They also made sure there were opportunities or feedback and to have an impact.
To launch and sustain the program the compliance team developed a strategic communication plan with consistent and repeated messaging around two key communication points:
- Acting with integrity in everything we do
- Thank you for protecting our culture of integrity at Solvay
Listen in to learn more about the development and implementation of the Solvay Four Cluster Compliance Program.