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Compliance program

In its mission statement, code of conduct and compliance commitment, thyssenkrupp has given a clear commitment that it will comply with internal and external laws and regulations. This obligation applies to all companies, managers and employees.

Specific areas of risk are covered by the compliance program, for which the Legal & Compliance group function is responsible. This is based on three elements: “inform and advise”, “identify” and “report and act”.

This program is closely interlinked with risk management and with our internal control system. In this way we ensure that compliance is an integral component of every single business process. The key areas of the program are antitrust law, corruption prevention, anti-money laundering, data protection and trade compliance. In relation to other topic areas – such as occupational safety and environmental protection – the Compliance function has taken on the role of advisor, coordinator, and consolidator.

Substantive responsibility in these areas remains with the competent corporate functions or segment; the Compliance team provides support and advice and ensures uniform reporting to the Executive Board. In connection with the strategic realignment of thyssenkrupp as a group of companies, Compliance is adapting the reporting and responsibilities for the respective areas together with those responsible in the respective specialist functions or segments.

Setup and elements of the compliance program

Setup and elements of the compliance program

The three pillars of our compliance program