Conflicts of interest exist in the commercial world and cannot be avoided. Every organization conducts business with another organization or individuals. We must understand and identify conflicts of interest and the importance of managing those conflicts of interest. Conflicts of interest arise when an individual or organization has a competing obligation, personal or financial interest, with the individual or organization in which they are conducting business with. Examples of relational private or personal interests include, but are not limited to, family and other relatives and personal relationships in the workplace, board or industry association memberships, investments and shareholders, secondary employment, personal relationships with suppliers, third parties, and vendors. In addition, monetary conflicts of interest include gifts and hospitality, which are not addressed with this offering. However, it is addressed using the RSA Archer Gift Registration app-pack. For more information on how to manage conflicts of interest regarding gifts, entertainment, and charitable donations, visit RSA Archer Gift Registration on the RSA Exchange.
Failure to manage conflicts of interest can have negative consequences for your organization. If these conflicts of interest are not identified and mitigated properly, it could put your organization at risk which could result in reputational damage, non-compliance with regulatory requirements, and even, financial loss.
On August 20th, the RSA Exchange introduced a new offering to help you address conflicts of interest in your organization. With the RSA Archer Conflicts of Interest Management app-pack, you can have a consistent and repeatable process for identifying and managing relationships internal and external to the organization while understanding the risks that may occur from those relationships and be able to mitigate and prioritize those risks.
RSA Archer Conflict of Interest Management allows you to:
Create a Conflict of Interest Profile identifying conflicts of interest within the organization
Conduct an Assessment to determine risks and impacts regarding conflicts of interest
Document findings and determine a course of action to remediate conflicts of interest
Monitor conflicts of interest to minimize risks
Interested in learning more about the RSA Archer Conflict of Interest Management app-pack? Join us for a Free Friday Tech Huddle on Friday, August 23, for a live demo. Free Friday Tech Huddles are only available to RSA Archer customers. If you are not yet a customer but you are interested in learning more, please contact your local representative or authorized reseller — or visit us at www.rsa.com.