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Ethical Business Practices

Ethical Business Practices

Ethical Business Practices

We are committed to conducting business with the highest ethical standards. We understand that how we do business and how we treat our customers, business partners, and one another helps us maintain our stellar reputation and contribute to our long-term viability. Our Standards of Business Conduct explains the behaviors expected of our employees and reinforces our corporate values.

Throughout 2024, Business Ethics and Compliance (BEC) engaged with our employees to keep ethical behavior top of mind through:

  • Developing an outreach program for new hires to reinforce our commitment to speaking up and augment opportunities for them to connect with BEC throughout their first year of employment.
  • Training employees on our ethical culture using adaptive learning.
  • Providing employees with data privacy tips to protect against identity theft, minimize data loss, and prevent data breaches.
  • Helping to maintain a culture of integrity through the work of our 122 Values in Action Advisors and 18-member Business Ethics Council

Compliance Management

In 2024, BEC improved our compliance posture by focusing on compliance risk and governance through the following activities:

  • Introducing a framework to standardize our control environment and strengthen risk mitigation efforts.
  • Working with internal business unit leaders to identify compliance risks, assess current conditions, and develop risk mitigation strategies.
  • Supporting departments seeking assistance in organizing and complying with their regulatory obligations.
  • Adopting AI technology to monitor for new and updated regulations relevant to our business.
  • Integrating our policy management platform with our inventory of regulatory obligations to help identify necessary updates to existing policies and procedures.

Privacy Compliance

We are committed to appropriately using and securing the personal information entrusted to us by employees, customers, and others. We remain focused on the evolving data privacy regulatory landscape. We take proactive measures to build forward-looking tools and processes in anticipation of more individual-centered business requirements. In 2024, we continued to build out our Privacy Compliance program and framework through:

  • Conducting over 30 Privacy Impact Assessments on new or existing technology.
  • Tightening the assessment process to select vendors that process personal information on our behalf.
  • Coordinating exercises to test our readiness to manage incidents involving personal information.
  • Providing messaging and training to our teams that process high volumes of personal information. 
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