Operational Framework

Oversight and governance
How we conduct our business is fundamental to the success of the Company.
The Operational Framework (OF) sets out our approach and the Policies and Processes to which we adhere. It is reviewed and approved annually by the Board.
 
The OF sets out the principles of good governance which, together with our culture, guide our work and behaviour in support of the strategy set in our Group Strategic Framework. Here we set out the values that we ask all our employees to demonstrate in their day-to-day work, wherever they are in the world.
 
It includes the following:
 

Operational governance


Code of Conduct
Lays out the standards that are expected of each of us, to support us in doing the right thing. All employees receive annual training designed to stimulate conversations 
about ethical decision-making.

Responsible Trading Principles
We do not compromise on the way we do business and here we mandate a principles-based approach to our business activity.
 
Internal controls
Provide assurance regarding:
– the reliability and integrity of information;
– compliance with policies, processes, laws, regulations and contracts;
– the safeguarding of assets and protection against fraud; and
– the economical and efficient use of resources.
 
Risk framework
This is how we identify, analyse, evaluate and mitigate risk.
 
Workplace and operational environment
This covers how we expect our people to be managed and the obligations placed on us all concerning avoiding conflicts of interest, anti-bribery, and managing the security of our people, information and other assets.
 
Delegated authorities
As part of a robust system of internal controls, the Board has delegated certain authorities to executive management. Delegation is subject to financial limits and other restrictions, above which matters must be referred to the Board.