ENGR9742 | Ethics and Compliance | Views On Ethics And Compliance
Watch the Video https://www.youtube.com/watch?v=yesE4mcv4CM&feature=youtu.be
1. What was your expectation before watching the video
2. How has this changed after watching it?
3. Has the video helped change your perspective about the issues?
4. How do you relate videos to the learning on module?
5. What have you learned that you can pass on to others?
Answer:
The video features the Ted Talk delivered by Shefali Roy, who has worked as a Chief Compliance Officer formerly and works as a Money Laundering Reporting Officer for Stripe (YouTube 2018). In the video, Shefali presents her views about ethics and compliance sharing her experiences in the field. She then presents a number of cases where ques
tions of ethics and compliance were put at stake.
Prior to watching the video, I had expected that it would be just another lecture on ethics and the need to follow it in organizations. Ethics, to me was a topic that needed no explanation because I was well aware of my own moral principles and things that I would do or not do.
However, the video changed my perception on ethics greatly. The speaker talks about the way ethics influences our daily lives each day. She states that ethics influences us each day without us realizing it. These things were not new to me but I ha perceived it as an employee or a worker in a big organization. The speaker however compelled me to perceive it from the viewpoint of an employer with the responsibility of cleaning up the mess, which are unethical incidences. I had never pondered upon the thought that I could have my company and then I would have the responsibility to incorporate ethics within the company. I would have to recruit people based on the ethics I hold close and see whether I have any unconscious bias.
I could relate the video with the learning I have had during the course of my unit. I learned that the topics of ethics and compliance are different and must not be confused as one. I had a better understanding of the concepts of compliance and governance. It is important for an individual and an organization to be ethically strong and not just have strong legal compliance. The video also explained clearly that choosing between ethical but legally incompliant is the most difficult yet important choice. Sometimes we have to engage in practices that might be unprofitable for the company but ethically correct.
Watching the video, I have learned that ethics, compliance and governance, although vital to any organization, are highly neglected and ignored. I learned that doing unethical business is much easier than engaging in and encouraging others in ethical practices. Shefali shared the incident of a factory collapse in Bangladesh that resulted in the death of 1100 textile workers employed under a giant textile company (YouTube 2018). The results that came out from the investigation were shocking, as she revealed that major safety and security issues were ignored for the sake of quick profit. Ethics and governance wee heavily ignored and from this, I learned that it is very easy to break ethical codes without even being punished.
I would want others to understand that it is not easy to become a compliance or ethics officer and far easy to be an employer and breach ethics and compliance. In addition, I would want to others to learn that ethics and governance that their organization follows depends on the ethics and moral principles that they bring on their own.
Reference:
YouTube. 2018. Why do ethics matter? | Shefali Roy | TEDxOxbridge. [online] Available at: https://www.youtube.com/watch?v=yesE4mcv4CM&feature=youtu.be [Accessed 29 Nov. 2018].
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