We spoke with Roberta Marchese, Corporate Affairs and Compliance Manager, about the role and importance of whistleblowing within an organization.
What is whistleblowing, and why does it matter? Soft Strategy Group and Nethex recognize the importance of a clear and effective reporting process. With insights from Roberta Marchese, Corporate Affairs and Compliance Manager, we examine how the Group manages whistleblowing reports. We also explore why this process is essential for businesses.
What is whistleblowing, and why is it important?
Whistleblowing is an essential process that allows employees, suppliers, and other stakeholders to report illegal, improper, or unethical conduct within an organization.
Reports may concern a wide range of issues. These include financial fraud, corruption, discrimination, workplace safety violations, environmental breaches, and other forms of misconduct.
Why is whistleblowing important to our Group?
Whistleblowing provides an effective mechanism for identifying and addressing illegal or unethical conduct. As a result, it benefits the entire organization. It can help prevent fraud and other unlawful activities, thereby reducing the risk of financial and reputational damage.
Moreover, timely reporting enables the organization to identify and address potential violations promptly. This helps limit their impact on financial performance, investor confidence, and corporate reputation.
A robust whistleblowing process also promotes a corporate culture based on integrity and ethical conduct. Employees must feel safe when reporting suspected misconduct. Creating a secure reporting environment therefore helps build trust and respect throughout the organization. It also strengthens employee confidence and reduces the risk of improper or fraudulent behavior.
In addition, whistleblowing supports regulatory compliance. It enables companies to identify and address potential legal or regulatory violations promptly. Consequently, organizations can mitigate the risk of legal penalties and reputational damage.
Why did the Group implement the Open Blow platform?
Our Group operates in sectors where reputation and credibility are essential. These qualities help us attract and retain clients while also enabling us to recruit the best talent in the market.
The Open Blow platform helps safeguard our reputation and credibility. In particular, it allows potential misconduct to be identified and addressed promptly.
Furthermore, we manage significant volumes of sensitive client data. For this reason, we need a robust mechanism to identify and mitigate operational risks.
The platform enables us to take preventive action and protect both our interests and those of our clients. Reports may also provide valuable insights into potential inefficiencies, process gaps, or areas for service improvement.
How does the whistleblowing process work?
The Open Blow platform is managed autonomously and independently by the Supervisory Body appointed pursuant to Italian Legislative Decree 231/2001. The Group’s corporate functions do not oversee or control its management. This independence ensures a high level of confidentiality and protects the whistleblower’s identity.
The whistleblowing process consists of three main steps.
1. Internal reporting channels
Whistleblowers can submit a report through the dedicated online platform. Alternatively, they can send a written report in a sealed envelope to the company’s headquarters. They may also make an oral report directly to the Supervisory Body.
2. Information to include in a report
Reports should include the whistleblower’s contact details. However, anonymous reports may also be submitted.
Each report should provide a detailed description of the conduct in question. Where possible, it should also identify the individuals involved.
In addition, the platform allows whistleblowers to remain in contact with the Supervisory Body through a secure messaging system. They can therefore provide further information, clarification, or supporting documentation when necessary.
3. Review and assessment
The Supervisory Body confirms receipt within seven days of receiving the report.
First, each report undergoes an initial assessment. This review determines whether sufficient information is available to evaluate the matter. If relevant information emerges, the Supervisory Body carries out a further investigation. Where appropriate, it coordinates with the relevant corporate functions.
When necessary, the findings are submitted to the Board of Directors, which can then take appropriate action.
However, there may be insufficient information to proceed. The matter may also fall outside the scope of the whistleblowing procedure. In such cases, the report is either closed or referred to the appropriate corporate function.
In all cases, the Supervisory Body must provide feedback within three months of confirming receipt.
Overall, this process allows us to centralize and accurately track whistleblowing reports. At the same time, it ensures transparency, confidentiality, and protection for everyone involved.