Business ethics
We aspire to the highest standards of conduct and set out our principles in our Business Ethics Code.
Our Code requires fairness, honesty and transparency in all we do. Everyone at Aviva has a part to play in upholding our standards.
We raise awareness of these responsibilities through our induction programmes and the acceptance and sign-off of our Business Ethics Code by our staff. Employees must complete a computer-based training module on the Code at least once during their employment at Aviva. In 2010, 32% of employees signed, bringing the accumulated number of signatories to 96% of all staff.
Our Code has been revised for 2011, incorporating the requirements of the UK Bribery Act 2010. The revised Code provides a framework through which we are committed to increasing awareness throughout our business of the Bribery Act and its implications, including how we combat financial crime and what constitutes ethical behaviour.
Business ethics developments were reported to the Corporate Responsibility Committee three times during the year, in particular with reference to the Bribery Act; developments were also considered at the Group Executive Committee and the Legal Committee. We are implementing the ‘Making Better Decisions’ summits during 2011, which provide a renewed focus on training on bribery and corruption. We also conducted training at our responsibility conference, looking specifically at internal management processes, an external viewpoint of the Bribery Act and what its impact on Aviva will be.
We continue to embed an ethics culture through our ‘Living Leadership’ model. Throughout 2011 we will be running training events with all 450 senior managers to further raise awareness of the issues and the importance of ethical decision making. Read more on our approach to leadership development in Attracting and retaining talent.
Compliance
Aviva has long championed good governance, and any actual or suspected breaches of our Code and procedures are of the greatest concern to us.
“Ultimately, it is the responsibility of the leaders of financial institutions – not their regulators, shareholders or other stakeholders – to create, oversee and imbue their organisations with an enlightened culture based on professionalism and integrity.”
Lord Sharman, Chairman, Aviva
(signatory to an open letter along with 16 other leaders of major financial institutions in advance of the Mansion House conference, published in the Financial Times, 28 September 2010)