What is Staff Declarations Management software?
Across a range of sectors, organisations are required to capture details of any potential conflicts which might impact on their employee’s decision-making ability. Early identification of any potential risks is key to ensuring the integrity of these decisions is maintained.
Staff Declarations Management software allows individuals to record conflicts of interest, as well as any gifts or hospitality they may have received in the course of carrying out their role. If the organisation aims to successfully control employee interactions with either internal or external parties, an appropriate software solution is essential.
This allows organisations to embed their internal Staff Declaration policy requirements into a controlled workflow, helping employees to adhere to all of their necessary obligations.
It will also help organisations identify any potential conflicts so that appropriate action can be taken before problems arise.
What are the benefits of Staff Declarations Management software?
Across any organisation, key decisions affecting its operations may require to be made on a daily basis. Compliance functions, as well as individual employees are required to show that impartiality is maintained in making these decisions.
The CoreStream Staff Declarations Management module provides a flexible and robust platform to manage all elements of the Staff Declarations process. It encourages individual accountability for employers and approval workflow to ensure that any potential conflict is recognised.
Our platform helps deliver integrated management across all governance, risk and compliance areas to align with the needs of your organisation.
CoreStream’s Staff Declarations Management software will manage conflict risk by:
- Increasing personal accountability in recording and understanding conflict risk.
- Ensuring adherence to organisational policies including gifts and hospitality, conflicts of interest, month end checklists and balance sheet assurance.
- Adapting to your organisation’s workflow requirements relating to visibility and approval.
- Enabling you to show adherence to relevant legislation.
- Increasing the efficiency of reporting for the Compliance team.
What are the risks of not having Staff Declarations Management software?
In recent years there has been an increase in reported issues relating to conflicts in the workplace, posing a threat to an organisation’s reputation and its ability to make independent business decisions. These threats can exist at all levels of the organisation and lead to fines and other market challenges.
Without an effective means of recording Staff Declarations, organisations run the risk of decisions being made for personal gain, rather than to meet its targets and strategies. A lack of clarity over personal circumstances could lead to appointments into decision-making roles which might have a long term detrimental impact.
The CoreStream platform allows organisations to quickly embed the necessary behaviours and policies into its procedures, offering early insights into potential issues which might threaten their operation.
The CoreStream solution provides a robust, flexible approach to the management of Staff Declarations – with workflow, reporting and question sets bespoke to your organisation’s needs.
Our Staff Declarations Management platform allows you to proactively ensure that conflicts are actively managed, and ensure that your business is protected from future threats.