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Valeo compliance program: zero tolerance

Objectives of the Group Compliance Program

Complying with the many different sets of regulations under which the Group operates worldwide requires discipline, determination, commitment and leadership.

Valeo has therefore put in place a Compliance organization based on several committees and a Group Compliance Program, the purposes of which are to:

  1. Define Valeo’s Compliance policies ;
  2. train and inform Valeo personnel about these policies as well as related regulations and risks;
  3. Sensitize Valeo Business Partners to both those risks and regulations and Valeo’s expectations on them ;
  4. Set up mechanisms to detect, correct and prevent behavior that may result in violations of the laws or regulations governing Valeo operations;
  5. Encourage Valeo’s stakeholders to report to management, in strict Compliance with local laws, incidents that they, in good faith, believe:
  • are in violation of laws or of Valeo policies,
  • could have an impact on Valeo or its personnel, image or reputation.

The Valeo Compliance program focuses on Antitrust, Anti-corruption, Export Control, Economic Sanctions, Data Protection and on protecting assets and information.

The program is now expanding to Economic Sanctions and Export Control.

The Group’s Compliance Organization

The Compliance organization is based on several committees and the total commitment of Valeo’s management as well as the personnel’s mobilization.

 

  • Audit & Risks Committee

The Audit and Risks Committee is responsible for ensuring the effectiveness of the risk management and internal control systems. As such, it regularly ensures that Valeo maintains a comprehensive program to comply with all laws and regulations governing its business activities, and conducts its business in an ethical and responsible manner.

  • The Operational Committee

The Operational Committee, chaired by Valeo’s Chief Executive Officer, defines the directions and priorities of the Compliance Program, allocates the necessary means and resources, and oversees and manages its implementation.

Operational Committee members are then responsible for conveying Compliance messages throughout the organization either directly or via their own leadership teams.

  • The Ethics and Compliance Office

The Chief Ethics and Compliance Officer initiates, manages and coordinates the implementation of the Compliance Program as defined by the Operational Committee, of which he/she is a member.

Reporting to the Chairman of the Board and CEO, Valeo’s Chief Ethics and Compliance Officer provides regular program advancement updates to the Audit & Risks Committee.

To ensure effective implementation of the program, the Chief Ethics and Compliance Officer works closely with the National Directors, the Business Group Presidents, the Purchasing Director and Industrial Director, the R&D, the HR and the Finance Directors, the General Counsels and the Internal Control and Internal Audit Director.

All contribute actively, both individually and via their teams, to the program’s implementation and effectiveness.

  • The Compliance Champions

Impeccable Ethics & Compliance is the backbone of Valeo’s business integrity, and part of its DNA. Valeo Compliance Champions, a global, cross-functional team with 32 members from a variety of countries networks (Sales, R&D, Projects, Finance, HR, Legal, Purchasing, etc.) are responsible for promoting the Compliance program within their area of responsibility.

Compliance Champions are available to help their peers and colleagues understand the policies and tools applicable to their activities, as well as all Ethics and Compliance initiatives.

Acting as the spoke person of both the leadership and the Chief Ethics and Compliance Officer, they mostly serve as the “go to” person in case of questions or doubts from a Business Group, function or project team member, and guide their peers and colleagues by sharing their knowledge and experience and by directing them to the right person or persons to provide additional information.

  • The management team

Ultimately, managers, from all countries and businesses, have a key role to play in advocating the program among their teams and making it part of Valeo’s day-to-day operations, at a global level.

This mobilization of the entire leadership team is a natural result of Valeo’s culture of Ethics and of its commitment to doing business with integrity. National Directors and site managers have a particularly important role to play in implementing the compliance program locally.

  • Employees at large

E&C roles and responsibilities are clearly allocated among the various managers; Employees need to show E&C transversal competences and meet general and/or specific annual objectives.

Employees are specifically responsible for knowing and understanding the compliance program and the policies, taking all training in due course, using the Compliance Management System according the relevant policies, asking for help as needed, and alerting in case of doubts.

 

Group Compliance Program

  • Policies and Guidelines

Valeo has defined strict policies concerning its interactions with its business partners.

As stated in its Code of Ethics, Valeo complies with antitrust laws in force in the European Union and in each country in which the Group operates. Valeo strictly prohibits the exchange of sensitive business data and illegal arrangements with competitors.

Fighting corruption is also an integral part of Valeo’s policy. A detailed anti-corruption program has been drawn up, covering gifts, entertainment and hospitality offered to customers, suppliers and partners, from both private and public sector. The program also covers relationships with agents, purchasing procedures, M&A due diligences, logistics chain risks, etc.

Valeo Export Control and Economic Sanctions Compliance program sets the framework of Valeo’s International activities.

As to the Data Protection program, it determines how to use and protect personal data in a truly international business environment.

  • Resources and support for employees 

In order to help Purchasing, Sales, Project and R&D teams a number of resources have been developed. These include FAQs, Dos and Don’ts, and recommendations for specific Valeo businesses or processes, dedicated handbooks and procedures.

Our aim is to provide all employees with the tools required to be proactive and make the right decisions, and to encourage them to turn to the right people at the right time. We have therefore made these tools available to everyone on a user-friendly Ethics and Compliance portal. Employees are also encouraged to consult their line managers, the Compliance Champions the Legal team and/or the Chief Ethics and Compliance Officer.

  • The Valeo Compliance Management System

Valeo has put in place a Compliance Management System, which allows those who need to follow a mandatory procedure and obtain pre approval or those who need to approve or deny a request to do it, easily and timely.

 

Education awareness, training:
the cornerstones of Ethics and Compliance

  • Education awareness 

Education is provided and awareness is developed in a variety of ways, including orientation and induction programs, newsletters, team meetings and training sessions. The Executive Management conveys an Ethics and Compliance culture regularly reminds staff that Ethics and Compliance form one of Valeo’s core values.

  • Training

Training is an essential component of Valeo’s Ethics and Compliance program.
As to Compliance, it is available in the form of both live training sessions and e-learning programs.

Tailored antitrust and anti-corruption training sessions are held on sites in the local languages. These sessions are mandatory for managers.

E-learning has been developed in 14 languages. It is mandatory for all executives and engineers and those who take part in particular projects or operations, in line with Valeo’s policies. It is strongly recommended for all other staff, who are regularly encouraged to follow the program.

In addition, special modules have been integrated into Valeo’s Leadership Development programs as well as training geared to specific functions such as sales, supply chain and purchasing.
A Compliance training plan is defined every year. It is implemented and overseen very closely by the Group Training teams and the Compliance team. Failure to participate in mandatory Compliance training may result in disciplinary action.

  • Business partners’ Commitment

Valeo expects from its Business partners that they share the same business ethics and integrity values. Suppliers, service providers, third party intermediaries must sign Valeo Business Partner Code of Conduct, (English version) and distribute it to its teams.

Business partners are also expected to comply with both the laws and regulations of the countries in which they operate and Valeo related policies and guidelines. It is one of their contractual obligations.

  • Business partners’ awareness development

In order to develop their understanding and awareness of antitrust and anti-bribery key challenges in general and Valeo’s policies and expectations in that respect, Valeo has made free compliance awareness development e-learning available.

Those modules are highly recommended for all business partners and they are mandatory for some of them, among whom agents and intermediaries and their teams assigned to a Valeo project or mission. Modules are available in English, French, German, Chinese, Japanese and Spanish.

  • Alerts: risk prevention

Prevention is crucial. Valeo employees are encouraged to alert their management about a known or suspected violation of applicable laws, regulations, ethical standards or Valeo policies as soon as they become aware of it.

They can chose to inform their Manager, the Chief Ethics and Compliance Officer or the Internal Audit Director.

They may also decide to use the Valeo alert line. Operated by a third party provider, it gives Valeo employees globally, the opportunity to report in their own terms and language actual or potential frauds, or non compliance to a law or a Valeo’s compliance program they might be aware of.

Third parties are permitted to use the alert line or to report non compliance issues they may see or be faced with through the line of alert, their usual point of contact or the Chief Ethics and Compliance Officer.

Alerts may be oral or written, in any of languages spoken at Valeo. Except when prohibited by a law, they can even be anonymous, if the alerter deems it really necessary. A detailed whistle blowing procedure is available.

Alerts are treated seriously, objectively, confidentiality, in compliance with local laws and the specific Valeo alert confidentiality and management procedure.

No whistleblower who reports a Compliance issue in good faith will be sanctioned in any way for doing so. Retaliation against whistleblowers is not permitted.

An alert is a serious action. Alerts that are unfounded or are aimed at damaging the reputation of another employee will not be tolerated either.

To report an issue or an actual or potential non compliance:

By mail:  valeo@expolink.ce.uk

On Expolink’s website: www.expolink.co.uk/valeo

By phone: Expolink numbers hereafter.

To place a request or claim with the Data Protection Office:

dpo.external@valeo.com

Expolink phone numbers

Country Free phone active Free phone number
Argentina Yes 0800 6662603
Australia Yes 1800 121 889
Austria Yes 0800 281700
Bahrain Yes 80004475
Bangladesh Yes Bangladesh dials 157001 then the caller will either get through to the operator or hear a recorded message which will then prompt them to dial 8779167615.
Belgium Yes 0800 71025
Brazil Yes 0800 891 8807
Bulgaria Yes 00800 110 44 74
Canada Yes 1888 268 5816
Chile Yes 123 002 004 12
China Netcom (North) Yes 00800 3838 3000
China Telecom (South) Yes 10800 441 0078
Croatia Yes 0 800 222 845
Columbia Yes 01800-944 4796
Costa Rica Yes 08000440101
Cuba For Cuba dials 2935 then he will either get through to the operator or hear a recorded message which will then prompt them to dial 8779167615
Cyprus Yes 800 95207
Czech Republic Yes 800 142 428
Denmark Yes 8088 4368
Egypt Yes 0800 000 00 23
Eire Yes 1800 567 014
Estonia Yes 800 00 44 265
Finland Yes 0800 116773
France Yes 0800 900240
Germany Yes 0800 182 3246
Greece Yes 00800 441 31422
Hawaii Yes 1866 293 2604
Hong Kong Yes 800 930770
Hungary Yes 06800 14863
Iceland Yes 800 82 79
India Yes 000 800 440 1286
Indonesia Yes 001 803 0441 1201
Israel Yes 1809446487
Italy Yes 800 783776
Japan Yes 00531 78 0023
Korea (South) Yes 00308 442 0074
Latvia Yes 8000 26 70
Lithuania Yes 8800 30 444
Luxembourg Yes 8002 4450
Malaysia Yes 1800 807055
Malta Yes 800 62404
Mexico Yes 01800 123 0193
Netherlands Yes 0800 022 9026
New Zealand Yes 0800 443 816
Norway Yes 800 14870
Pakistan Yes 00800 900 44181
Peru Yes 080053611
Philippines Yes 1800 1442 0076
Poland Yes 00800 441 2392
Portugal Yes 800 880 374
Puerto Rico Yes 1866 293 1804
Romania Yes 08008 94440
Russia Yes 810 800 2058 2044
Saudi Arabia Yes 800 844 0172
Singapore Yes 800 4411 140
Slovakia Yes 0800 004461
Slovenia Yes 0800 80886
South Africa Yes 0800 990520
Spain Yes 900 944401
Sri Lanka Yes 011 244 5413 (dialing from Colombo omit 011)
Sweden Yes 0200 285415
Switzerland Yes 0800 563823
Taiwan Yes 0080 10 44202
Thailand Yes 001 800 442 078
Turkey Yes 00800 4463 2066
United Kingdom Yes 0800 374199
UAE (United Arab Emirates)  Yes  8000 44 138 73
USA Yes 1877 533 5310
Venezuela Yes 0800 100 3199
Vietnam Yes 120 11527

Where there is no Free phone number please communicate the following:

Collect call/reverse charge number steps as follows:

  1. Caller dials his/her country operator
  2. Asks for an international collect call or reverse charge to: 0044 1249 661 808
  3. Operator will dial the number and speak to an Expolink Operator who will accept the call and charges
  4. Country operator connects caller to Expolink, leaves the call and then the call takes place as normal