Table of Contents
1. Introduction
2. Purpose
3. Scope
4. Definition of Conflict of Interest
5. Disclosure of Conflicts
6. Managing Conflicts of Interest
7. Responsibilities
8. Review and Compliance
9. Reporting Violations
10. Amendments
1. Introduction
The Society for Urban & Rural Enlightenment (SURE) is committed to ensuring that all its operations and decisions are made in the best interest of the organization and its stakeholders. The purpose of this Conflict of Interest Policy is to provide guidelines for identifying, disclosing, and managing potential conflicts of interest to maintain transparency and integrity in all organizational activities.
2. Purpose
The purpose of this policy is to:
- Prevent conflicts of interest from influencing decisions and actions.
- Promote transparency and fairness in organizational operations.
- Ensure that all decisions are made based on merit and the best interest of SURE.
- Provide a clear process for managing and disclosing conflicts of interest.
3. Scope
This policy applies to all employees, board members, volunteers, and contractors of SURE. It covers all activities, including but not limited to decision-making, procurement, and organizational governance.
4. Definition of Conflict of Interest
A conflict of interest occurs when an individual's personal, professional, or financial interests interfere with or appear to interfere with their ability to act in the best interests of SURE. This includes, but is not limited to:
- Financial Interests: Personal investments, financial gains, or business relationships that could influence organizational decisions.
- Personal Relationships: Close relationships with individuals or entities that could affect or appear to affect objectivity.
- Professional Relationships: Affiliation with other organizations that could create a potential conflict with the responsibilities towards SURE.
5. Disclosure of Conflicts
- Obligation: All individuals covered by this policy must disclose any potential or actual conflicts of interest as soon as they arise.
- Procedure: Disclosures should be made in writing to the designated Conflict of Interest Officer or through established reporting channels.
- Frequency: Disclosures should be updated annually or whenever there is a significant change in circumstances.
6. Managing Conflicts of Interest
- Assessment: The Conflict of Interest Officer or designated committee will assess the nature and extent of the conflict.
- Resolution: Depending on the assessment, the following actions may be taken:
- Recusal from decision-making processes related to the conflict.
- Divestment of conflicting interests.
- Modification of roles or responsibilities to mitigate the conflict.
- Documentation: All decisions and actions related to managing conflicts of interest should be documented and kept on record.
7. Responsibilities
- Employees and Board Members: Responsible for disclosing conflicts of interest and adhering to this policy.
- Conflict of Interest Officer: Responsible for overseeing the disclosure process, assessing conflicts, and ensuring appropriate management.
- Governance Committee: Responsible for reviewing the policy, addressing unresolved conflicts, and making recommendations for improvements.
8. Review and Compliance
- Policy Review: This policy will be reviewed annually to ensure it remains effective and relevant.
- Compliance: Regular training will be provided to ensure all individuals are aware of and understand the policy.
- Audits: Periodic audits may be conducted to ensure compliance with the policy.
9. Reporting Violations
- Reporting Mechanism: Individuals are encouraged to report any suspected violations of this policy through established channels.
- Confidentiality: Reports will be handled confidentially to the extent possible.
- Protection: Whistleblowers who report in good faith will be protected from retaliation.
10. Amendments
- Policy Updates: This policy may be amended as needed to reflect changes in laws, regulations, or organizational practices.
- Communication: All amendments will be communicated to relevant individuals, and training will be provided as necessary.