UNIC became a partner of the StreetLaw competition

This year, UNIC became a partner of the StreetLaw Fest competition, "Building Integrity in Business and Government through Legal Education for Youth." The competition aims to enhance students' knowledge and skills in integrity and develop materials for further dissemination among legal clinics, schools, and students. Representatives of the Network also joined the judging panel to mentor participants and assist them in creating original legal education products.

As part of the competition, Glib Bakalov, Chairman of the Executive Committee of the Ukrainian Network of Integrity and Compliance (UNIC) and Chief Compliance Officer at NEC "Ukrenergo," conducted a workshop on "The Profession of a Compliance Officer." The workshop was designed for teams from legal clinics participating in StreetLaw Fest.

During his presentation, the expert emphasized that the role of compliance officers in Ukraine is rapidly growing, especially in large companies.
"Compliance is particularly critical in complex and highly regulated sectors such as energy, banking, pharmaceuticals, and telecommunications, where regulatory violations can lead to serious consequences. A compliance officer's task is to ensure the company adheres to external and internal regulations, including codes of ethics, anti-corruption policies, and financial monitoring rules. It's important not only to meet legal requirements but also to monitor ethical aspects of the company's activities to avoid situations that could result in reputational and financial losses," Bakalov noted.

The key responsibility of a compliance officer is to identify violations before they lead to scandals and reputational damage.

To illustrate the importance of compliance, Bakalov referred to the corruption scandal at the Brazilian company Petrobras, where the lack of effective controls led to investigations, mass arrests, and significant fines. He highlighted the compliance officer's role in preventing conflicts of interest and ensuring adherence to ethical standards.
"An ethical culture not only shapes a company’s corporate environment but also helps mitigate risks. Compliance acts as the 'conscience' of a company, guiding management to focus on critical aspects of integrity and control in daily operations," he stressed.

In conclusion, Bakalov emphasized that a compliance officer is not just a rule administrator but a professional who fosters a healthy corporate culture.
"In such an environment, employees feel responsible for adhering to ethical principles and are supported in reporting violations. This allows companies to avoid severe financial losses and maintain their reputation, even in challenging situations," he added.

UNIC sincerely thanks the Association of Legal Clinics of Ukraine for the opportunity to join this important initiative and promote the compliance officer profession among youth.