Compliance-System at ERGO AustriaCompliance-System at ERGO Austria

The duties of the ERGO Compliance unit include:

Systematic identification and analysis of relevant risks;
Defining and continuously improving corporate compliance rules and guidelines;
Informing, training and advising members of the Management Boards, staff and sales partners;
Monitoring that regulations are adhered to and identifying breaches.

Furthermore, the compliance organisation of ERGO Versicherungs AG and ERGO Austria International AG remains in close contact with the compliance team at ERGO Group AG.

DutiesDuties

Risk analysesRisk analyses

The core of the Compliance Management System is a systematic and comprehensive risk Analysis. The results create the basis for the activities of ERGO Compliance. ERGO Compliance assesses the relevant risks in the individual business segments according to a uniform method and involves the respective experts and people in charge in the Company.

The risk analysis comprises the following steps:

Development of risk scenarios
Checking in which company units or business processes these risks could occur
Assessment of their possible impact and their probability
Specification of whether action is required, and if so, which measures are required beyond those already in place

The risk analysis is carried out at least once each year and ad hoc where required. The ERGO Board of Management is regularly notified of the results and any major changes.

Rules and guidelinesRules and guidelines

Adhering to laws and regulations is, of course, obligatory for all employees, as well as abiding by corporate standards. It is only in this way that economical, liability and reputation risks can be avoided by ERGO in the long term.

One of the most important rules is the Code of Conduct for staff, which states our requirements for ethical behaviour of employees, senior executives and management.

There are also corporate rules for various topics. Example:
The Guidelines on Incentives specify the rules for tendering, planning, procuring and organising incentives for in-house staff and sales forces. ERGO’s international companies are also obliged to comply with the main points contained in these Guidelines since June 2014. They are required to implement these basic standards in their organisations.

The ERGO Guidelines are reviewed regularly and updated when necessary.

Information, training & advice Information, training & advice

Regular communication on compliance topics is an important part of our Compliance Management System and heightens employees’ awareness, thereby reinforcing the culture of compliance within the organisation. This is achieved through internal communication channels such as the intranet or print magazines, as well as regular training events. The latest guidelines are always available on the intranet.

Regular training sessions impart the compliance objectives and help in attaining standardised common understanding. Participation is mandatory for employees, senior executives and members of the Board of Management, both in-house and in sales forces.

Trainings include an online module as well as a training session where ERGO Compliance informs Board members and managers directly. They act as multipliers and pass on the relevant content covered in the training materials to their teams.

In addition our Board members and all executive employees receive training on Compliance topics on a case-by-case basis.

Identifying and handling breaches Identifying and handling breaches

Violations of statutory provisions or Code of Conduct rules and internal guidelines are not tolerated at ERGO, they are clarified and punished as appropriate. Each incident is individually assessed and sanctioned depending on the extent of the infringement. Checks are also carried out as to whether guidelines or processes in the Company need to be changed.

The Fraud Prevention Committee of ERGO Versicherung AG deals with serious violations. The Committee makes recommendations and reports directly to the ERGO Board of Management.

Violations are identified in a variety of ways. Apart from regular enquiries conducted among in-house staff and sales forces, employees who wish to report an infringement of laws or other serious breaches can contact the ERGO Compliance unit in confidence or use the internal whistleblower processes.

Employees who do not wish to contact ERGO Compliance directly or use the internal whistleblowser processes can also make contact through the whistleblower-process of ERGO Group, which is also obliged to maintain strict confidentiality.

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