KBN depends on numerous suppliers and procures a significant quantity of services and goods.
KBN has a zero-tolerance policy on corruption and money laundering and expects its suppliers and their collaboration partners to have the same policy.
We expect the work carried out by our suppliers on corporate social responsibility, including in relation to the environment, ethical conduct, diversity and equality, and social matters to have a documentable impact. When procuring goods or services, KBN attaches importance to its suppliers’ commitment to such work and to the results they achieve – both within their own organisation and in relation to their collaboration partners. This also applies to their work to prevent fraud by cybercriminals.
Performance in 2017
Measures implemented in 2017
KBN operates an anticorruption program that satisfies all statutory requirements for such programs. All employees are given regular training in KBN's Code of Conduct and in issues related to ethical conduct and corruption. Training takes a variety of forms, including staff meetings for all employees, e-learning and direct dialogue with KBN’s departments. All new employees receive dilemma training.
Participation in the e-learning program run in 2016 was around 70%. This is regarded as a good level of participation, but KBN has a target of increasing the level of participation in the next e-learning program, which will be run in 2018. All new employees are always provided with a separate training session that focuses on ethical issues of relevance to working at KBN.
The CEO and the executive management group at KBN have received the same training as other employees. Risk assessments are carried out at least annually in relation to areas including corruption, money laundering and dishonest conduct. The program of risk assessments provides the basis for evaluating whether additional activities should be prioritised in relation to areas related to ethical conduct and the risk of corruption.
An important objective for KBN's anti-corruption work is to ensure transparency in the finance supply chain. KBN is committed to promoting greater openness in relation to investor allocation in the bond market. There is a risk of damage to KBN's reputation if any party with which it has a business connection is involved in money laundering, tax evasion or corruption. It is therefore of fundamental importance for KBN to have sufficient information about its business connections in order to identify any such risks and take appropriate action. KBN accordingly has established procedures for assessing and approving its business connections. These checks are carried out using a risk-based assessment when first establishing a new business relationship, and thereafter on a regular basis.
KBN attaches importance to suppliers’ corporate social responsibility work, including in relation to the environment, ethical conduct, diversity and equality, and social matters, as selection criteria when carrying out procurement processes that are significant in scope. Importance is also accorded to the work undertaken by suppliers to combat fraud by cybercriminals in all procurement processes where this is relevant.
KBN has two overriding objectives for its work on suppliers in 2018:
- KBN has a zero-tolerance policy on corruption and money laundering and expects the same of its suppliers and their collaboration partners.
- We seek to contribute to greater transparency regarding questions of ownership and money flows.
- We expect our suppliers’ work on corporate social responsibility, including in relation to the environment, ethical conduct, and diversity and equality, to have a documentable impact, and we expect our suppliers and their collaboration partners to work actively to combat corruption and money laundering and to protect against cyber criminality.