Integrity and Ethics
Innovia Security's core values are fundamental, enduring and absolute. Business ethics and integrity are central to the spirit of our values, which serve as a reference for expected behavior as we manage our daily business.
Culture & Values
Having the right working culture within the business is of central importance to Innovia Security’s success in the market. Staff at Innovia Security operate within a cultural framework that encourages unity and a shared vision. The culture is driven by a commonly held set of values that all staff subscribe to and on which - in part - workplace performance is evaluated. These values are:
Honour - Above all else, do the right thing
Own - Take responsibility, act as if it's your business
Grow - Grow with the business
Engage - Achieve better outcomes by engaging with others
Excel - Set high standards, exceed customer expectations
Our policy framework provides a set of practical rules and procedures which staff are expected to adhere to and comply with. To assist our staff in understanding the conduct and ethical behaviours which Innovia Security expects, the key aspects of our policy framework have been summarised in the internal document "Innovia Security Conduct and Ethics - In Practice".
Innovia Security seeks to promote a culture that encourages ethical conduct and commitment to compliance with the law as an integral part of our culture. A copy of our Commitment to Integrity and Ethical Behaviour is available for your viewing.
Principles of Corporate Governance and Compliance Management
Corporate Governance and Compliance Management provide the basis for third party stakeholders to have confidence in our company, its people, products and services, and reputation.
Compliance is not simply about abiding by the law and internal policies and procedures. We aspire to act in a manner that accords with our core values, as well as meeting those expected by our key stakeholders.
We are committed to achieving effective governance and strive to nurture a culture that values and rewards exemplary ethical standards, personal and corporate integrity, transparency and respect for others.
Innovia Security has established a Governance Structure that enables the overarching objectives of the various cultural, risk and compliance initiatives that the business currently has in place. At the highest level, it sets out the accountability of the Board and Executive Team, as well as the structures and processes that each relies on to execute the accountabilities.
Innovia Security Governance Process
Risk and Integrity Committee
The Risk and Integrity Committee (RIC) is a management Committee that reports to the Managing Director (MD) and the Board.
The objective and purpose of the Committee is to assist the MD in fulfilling his/ her responsibilities to manage Innovia Security's portfolio of risks and to be satisfied that management has developed and implemented a sound system of risk management and internal control and is operating with a high level of integrity.
Integrity and Ethics Policy Framework
The Company Values, as well as the Corporate Governance and Compliance Framework, are supported by detailed policies that together form Innovia Security's Integrity and Ethics Policy Framework. The key Integrity and Ethics policies are:
- Antibribery and Corruption Policy
- Antitrust Policy
- Charitable Donations Policy
- Conflict of Interest Policy
- Consumer Protection Policy
- Integrity and Ethics Policy
- Sanctions Policy
- Sponsorship Policy
- Whistleblower Protection Policy
Innovia Security's Integrity and Ethics Program has been designed to meet or exceed international standards including the UK Bribery Act 2010 requirements. Innovia Security shares information about this program with business partners and key suppliers, as well as the corresponding Code of Conduct and Ethics for Associated and Third Parties. Additionally, our Antitrust Policy Statement is available here.
Innovia Security has a Whistleblower Protection Policy which encourages staff and anyone with business dealings with our company to be alert for any behaviour or occurrence that seems unacceptable, inappropriate or illegal. To report in total anonymity, any internal or external stakeholder can contact Expolink free of charge from any country, 7 days a week, 24 hours a day, either via phone, internet, e-mail or post. To call toll free, simply follow this link to Expolink’s international freephone numbers.
Risk Culture and Awareness
Every 18 months, the Risk and Compliance Department conducts an internal Global Integrity and Ethics Survey. All staff are provided with the opportunity to comment on any emerging issues and provide feedback on the effectiveness of the company’s Integrity and Ethics program.
The global survey forms a key component of Innovia Security’s continuous improvement culture, as the results provide management with an understanding of the integrity and ethics culture amongst staff. At the same time, the survey is an effective tool to assess the effectiveness of our Risk and Compliance training program.
United Nations Global Compact Membership
Innovia Security was accepted as a member of the UN Global Compact in September 2012. The company sees its involvement in the UN Global Compact as both a culmination of efforts to date on cultural transformation and a springboard for future improvements in its corporate social responsibility.
The company’s first Communication on Progress was filed in April 2013.
Banknote Ethics Initiative Membership
Innovia Security was accepted as a member of the Banknote Ethics Initiative in February 2014. The company is one of the first three organisations in the banknote industry to receive this prestigious accreditation.
In granting the accreditation, the BnEI Council gave careful consideration to the independent audit report – authored by GoodCorporation – of Innovia Security’s anti-corruption and antitrust capabilities.