6 Governance
6.1 Legal, Ethical, and Regulatory
(6.1a) As a financial institution, RBC is subject to various legal, ethical, and regulatory requirements that govern its operations. To ensure that all workforce members comply with these requirements in their activities and transactions with all stakeholders, RBC needs to have a comprehensive approach that includes both proactive and reactive systems, as well as performance measures to evaluate the effectiveness of these systems.
One of the vital proactive approaches is establishing clear policies and procedures that outline the legal, ethical, and regulatory requirements that all employees must follow in their activities and transactions with all stakeholders. These policies and procedures
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RBC's approach aligns with its Code of Conduct and Leadership model, which encourages employees to report concerns and fosters an environment of openness and transparency, providing direction and guidance on risk management, accountability, and conduct topics. By prioritizing the safety and well-being of employees, RBC has created a culture that values integrity, accountability, and ethical behaviour.
(6.1b) RBC has a systematic and integrated method for monitoring and analyzing regulatory developments through the Regulatory Compliance Management Framework. The critical steps involved in the approach include assessing compliance, creating an action, communicating, and training employees. This approach ensures that RBC complies with regulatory changes while minimizing the risk of non-compliance incidents and shows its commitment to maintaining high compliance standards across all areas of its operations.
Opportunities for
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Because risk is accepted and accounted for in all aspects of the business, the culture of learning from different outcomes can further shape the necessary modelling to mitigate similar risks; this can be achieved with the stress testing system designed to ensure the company's sustainability. Measuring 'Safe to Speak Up' in the EOS is vital to ensure risks are brought forward promptly, reducing long-term exposure to the
These are (Virtual Private Network) VPN Policy, Password Policy and Acceptable Use Policy. Acceptable Use Policy is a policy that outlines the acceptable use of computer equipment. This policy is in place to protect employees in regards to inappropriate use. Any case of inappropriate use can expose the network to several risks, including viruses. Passwords are the frontline of protection of user accounts.
The substantive procedures will be performed for the above outlined parts, so that the irregularities within each section is detected and an appropriate audit program will be designed for each department. Substantive procedures include the following general categories of activity: Testing classes of transactions, account balances, and disclosures Agreeing the
The NAADC Code of Ethics are stipulations that dictate the attitudes and behaviors of people. The NAADC Code of Ethics provides guidance for individuals in the addictions behavioral health field to perform as honest and virtuous professionals. The codes suggest identifying your own strengths and weaknesses, skills, and areas that need improvement. The NAADC codes were established to direct the members. The regulations are the criteria of behavior for addiction experts.
Care staff have a duty of care to ensure the safety of individuals they support; however, individuals also have a right to make their own choices which can lead to dilemmas. The risk assessment process can be used to support individuals to understand the possible repercussions of their choices and put measures in place to reduce or eliminate these risks this can help individuals and staff to have a positive attitude towards risk taking and to promote their strengths and abilities. This can lead to self-confidence, self-esteem and overall
The North Carolina State Board of Education outlines the professional standards to which teaches should uphold within, and even outside of, the classroom. These standards are comprised of the commitment to the student, commitment to the school, and commitment to the profession. Also, the Code of Ethics includes the professional conduct which entails, honesty, the acknowledgement of the rights of others, keeping information confidential, and compliance of criminal laws (NC State Board of Education, 1998). Ultimately, the NC Code of Ethics is a set of rules in which teachers must uphold during their career. Discussion Commitment to the Student
We follow these throughout every interaction we have with service users. For example, meeting nutritional and hydration needs, ensuring safe care is provided, having the correct equipment. Some of the regulations become more commonly used at a more senior level, like following procedure regarding complaints or ensuring adequate levels of staffing. Human Rights Act-
• Policies and Procedures – It is important
Assignment: Outline how legislation, policies and procedures relating to health, safety and security influence health and social care settings. Go on to describe how those legislation, policies and procedures promote the safety of individuals in your health or social care setting. Policies, procedures and legislation are found in every establishment. They are required to have them in place in order to protect and keep the employers, employees and service users safe. Legislations in an establishment are a groups of laws set by the government that must be followed otherwise an individual will be prosecuted.
When reading the IAMFC Code of Ethics and AAMFT Code of Ethics I found that they compare significantly, much more than they contrast. Many of the principals coincide. For example, the topic of multiple relationships is one of the many principles that parallel in many codes of ethics. The IAMFC Code of Ethics encourages family counselors to “avoid whenever possible multiple relationships, such as business, social, or sexual contacts with any current clients or family members” (Section A). Similarly, the AAMFT Code of Ethics also requires that therapists “make every effort to avoid conditions and multiple relationships with clients that could impair professional judgment or increase the risk of exploitation.
Chris McCandless, whose story is analyzed in Into the Wild, by Jon Krakauer, is a young adult who decides to leave his known habits and material belongings behind and live a completely self-sufficient life in the wilderness, a choice which ultimately leads to his death. In doing that, he also forfeits his family and friends. With that in mind, a question can be posed regarding the ethics of said behavior. As a childless, single and financially independent man, Chris McCandless has absolute ownership of his body and thus his decision to continue doing a sport that he knows can kill him is ethically defensible.
Introduction The key ethical issues that were presented in this case study were quality control, lack of customer care, responsiveness, and harming the customer. The Johnson and Johnson case may have been seen as a turning point due to many things the company did right. However, there were many ethical issues in this case which will be explored more throughout this paper.
This paper will explore safety culture as management human error(internal) and legislation (external) that influence organisations or businesses way of doing things. It will explain the positive and negative effect of safety culture. In addition to a generally view on how safety culture can also play a role or influences regarding safety
A system to check and balances the benefit of all the board of directors and to avoid some of top management from making decisions that only benefit themselves is created and named corporate governance. Corporate governance means the system of rules, practices and processes by which a company is directed and controlled. The set of rules provided as a guidelines for the board of directors to make sure that accountability and fairness in a company’s relationship with its stakeholders such as financiers, customers, management, employees, shareholders and also society in order to achieve company’s goals and targets in a manner that add a value to the company. All of the stakeholders play an important role in corporate governance to ensure that