UNIC expert Hlib Bakalov, Compliance Officer, Commissioner for the Implementation of the Anti-Corruption Program of NPC Ukrenergo, shared his experience in compliance

UNIC expert Hlib Bakalov, Compliance Officer, Commissioner for the Implementation of the Anti-Corruption Program of NPC Ukrenergo, shared his experience in compliance for the National Legal Course on Corruption Prevention organized by ELSA Kyiv. In 2022, thanks to the efforts of Hlib and the Compliance Department team, NPC Ukrenergo successfully completed the two-year UNIC partnership program and became the first full-fledged UNIC member among Ukrainian state-owned enterprises.

 

We share with you the main points from the speech:

 

• The task of the compliance officer is to help the company and management comply with the requirements of the law and internal company policies to avoid negative consequences.

 

• The compliance officer ensures the formation and development of the compliance office and improvement of the compliance risk management system and is responsible for implementing the company's Anti-Corruption Policy and several provisions on business ethics.

 

• In the world, the role of a compliance officer is often performed by a lawyer. In Ukraine, this does not work because the main task for a lawyer is to solve a legal problem, often by any means necessary. In small businesses, lawyers are forced to turn a blind eye to fraud, while compliance requires an honest way to solve a problem.

 

• The demand for compliance officers in Ukraine will grow, given the country's rapprochement with the European Union.

 

• The compliance officer deals with anti-corruption, financial monitoring, sanctions, personal data, ethical culture, etc.

• It is important that the CEO or top management set an example of ethical behavior and integrity for the company's employees.

 

For more information on the role of compliance in a company, please see the brochure "Basic Principles of Risk Identification and Mitigation" here:  http://bit.ly/3lu1w0D