Compliance Herausforderung und Chance, auch in Asien-Pazifik

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1 Compliance Herausforderung und Chance, auch in Asien-Pazifik Frank Schmidt Vice President & Compliance Officer Asia-Pacific Siemens AG Tischgespräch Deutsche Hongkong Gesellschaft e.v. Frankfurt, 13. Oktober 2011 Mit Unterstützung von Page 1 Protection notice / Copyright notice Siemens AG 2010

2 A chapter is closed - but the fight against corruption is never over A painful chapter is over - settlement with German and US-authorities reached Overall costs >> 2 billion Euros DoJ/SEC has appointed a Monitor who is watching our compliance progress What's next? still has top priority Siemens has a best-in-class compliance system and on this basis has started to fight corruption with "Collective action" October 2011 Siemens AG 2011, Corporate Compliance Office

3 In the change process, several elements were crucial in becoming a recognized leader in terms of integrity Immediate Actions Implementation Support sustainable business! Exchange of Leadership Team Compliance Program DoJ/SEC settlement Continuous Improvement World Bank settlement Continuous Improvement Tone from the Top Compliance Organization Values & Integrity Independent investigation Compliance Training Collective Action Centralization of bank accounts Compliance Tools Sustainable Development Page 3 October 2011 Siemens AG 2011, Corporate Compliance Office

4 Sustainability as the key to success: Siemens has been in business for 163 years Für augenblicklichen Gewinn verkaufe ich die Zukunft nicht! Werner von Siemens Innovative Excellent Responsible Page 4 October 2011 Siemens AG 2011, Corporate Compliance Office

5 TI Corruption Index APAC CPI score 2010: Source: Page 5 October 2011 Siemens AG 2011, Corporate Compliance Office Rank 1. New Zealand 1. Singapore 8. Australia 13. Hong Kong 15. Germany 17. Japan 22. United States 33. Taiwan 39. South Korea 56. Malaysia 78. China 78. Thailand 87. India 110. Indonesia 116. Vietnam 134. Bangladesh 134. Philippines Score ,3 9,3 8,7 8,4 7,9 7,8 7,1 5,8 5,4 4,4 3,5 3,5 3,3 2,8 2,7 2,4 2,4 Score ,4 9,2 8,7 8,2 8,0 7,7 7,5 5,6 5,5 4,5 3,6 3,4 3,4 2,8 2,7 2,4 2,4

6 Tapping future growth in emerging markets requires a proper implementation of compliance Strengthening local presence in fast-growing markets to gain market share... Russia United States Europe 1) Germany Middle East China Bubble size = Estimated GDP growth from 1990 to 2020 Brazil Africa India CPI ) is as important as implementing compliance to protect against the high corruption risk 1) Europe = EU 15 w/o Germany 2) Source: Transparency International Corruption Perceptions Index 2009 Page 6 October 2011 Siemens AG 2011, Corporate Compliance Office

7 Compliance is not just a program it s a way of doing business Prevent Detect Respond "Tone from the Top" Organization Training Policies & Procedures / Tools Communication Centralization Conti - nuous improvement investigations reviews controls Consequences for misconduct Global case tracking Monitoring effectiveness helpdesk (incl. Global Ombudsman function) function) Integration with personnel processes Page 7 October 2011 Siemens AG 2011, Corporate Compliance Office

8 Strong communication and exemplary behavior are core tasks of top management to drive Compliance, Tone from the Top Top Management Communication Behavior Provide strong, clear and sustainable messages Involve in dialogues with middle management Show strong presence internationally throughout the entire organization Act as role models with all attitudes and behaviors Live and spread Siemens' company values internally and externally Prove the credibility of messages by putting the talking into actions "Only Clean Business is Siemens Business. Everywhere Everybody Every Time!" Page 8 October 2011 Siemens AG 2011, Corporate Compliance Office

9 but, "the tone from the top" has to be lived and communicated throughout all management levels Anchor compliance in the entire value chain Promote Siemens' compliance tools Explain and demonstrate compliancerelated issues Full commitment towards Compliance and Clean Business Motivate and encourage employees Engage in regular communication with employees Show priority of compliance at all times Page 9 October 2011 Siemens AG 2011, Corporate Compliance Office

10 Compliance is not just a program it s a way of doing business Prevent Detect Respond "Tone from the Top" Organization Training Policies & Procedures / Tools Communication Centralization Conti - nuous improvement investigations reviews controls Consequences for misconduct Global case tracking Monitoring effectiveness helpdesk (incl. Global Ombudsman function) function) Integration with personnel processes Page 10 October 2011 Siemens AG 2011, Corporate Compliance Office

11 Global Compliance Organization in the Sectors and Regions Employees FY 2007 Employees FY 2010 Corporate Σ 80 Sectors & Divisions Σ 68 Corporate Σ 14 Regions Σ 91 Sectors & Divisions Σ 195 Regions Σ 323 Σ 173 Σ 598 Page 11 October 2011 Siemens AG 2011, Corporate Compliance Office

12 Compliance is not just a program it s a way of doing business Prevent Detect Respond "Tone from the Top" Organization Training Policies & Procedures / Tools Communication Centralization Conti - nuous improvement investigations reviews controls Consequences for misconduct Global case tracking Monitoring effectiveness helpdesk (incl. Global Ombudsman function) function) Integration with personnel processes Page 12 October 2011 Siemens AG 2011, Corporate Compliance Office

13 New Compliance Control Framework (CCF) reflects best implementation and testing practices 11 focus areas 1 'Tone from the Top' Implementation of Policies and Procedures Implementation of Policies and Procedures 5 Business Partners 2 6 Tender & Contracts in Project Business 4 Compliance Organization Gifts & Hospitality Finance and Accounting Integration Finance & with Accounting Personnel Processes Policies & Training 10 Antitrust Integration with Personnel Processes 11 M&A, JVs and Minority Investments 3 Case Tracking Controls and policies were implemented and audited in over 1000 Siemens entities, started in Q1 FY2008 October 2011 Siemens AG 2011, Corporate Compliance Office

14 Business Partner Due Diligence is crucial before entering into agreements with business partners Following the identification of an external Business Partner (BP) according to Siemens definition, but prior to engaging that BP, a Business Partner Compliance Due Diligence (BP CDD) has to be performed by the respective Siemens entity. The risk level of the relationship between Siemens and the Business Partner, influences the information to be provided in the CDD questionnaire, required approval and review steps and the mandatory contract provisions. For higher risk CDDs, in the Compliance review, an additional check against an anti corruption data base is embedded. An approved Compliance Due Diligence is valid for two years and has to be renewed by a specific renewal process. 1 Key Data Business Partner/ CDD Key Data Entity (department) that starts a relationship with a Business Partner a 2 b 1. Previous experience with BP 2. Purpose of relationship 3. Interaction with government officials 4. Recommended by government official 5. Nature of the relationship / agreement 6. Country specific corruption risk -TI/CPI 7. Compensation 8. Unusual payment terms Integrity Check Internet Search Risk-Assessment Doubtful integrity risk points - scoring Lower Risk Medium Risk Higher Risk 3 CDD Questionnaire Higher Risk Medium Risk Lower Risk 4 Mgmnt. and Compliance Approval Release Review Approval Local Management of the Siemens entity Siemens entity Siemens entity Local Compliance Officer Local CO Sector Cluster Corp. CO Entity 5 Contract info Voluntary Voluntary Mandatory Page 14 October 2011 Siemens AG 2011, Corporate Compliance Office

15 Compliance is not just a program it s a way of doing business Prevent Detect Respond "Tone from the Top" Organization Training Policies & Procedures / Tools Communication Centralization Conti - nuous improvement investigations reviews controls Consequences for misconduct Global case tracking Monitoring effectiveness helpdesk (incl. Global Ombudsman function) function) Integration with personnel processes Page 15 October 2011 Siemens AG 2011, Corporate Compliance Office

16 Compliance as an integral part of management s incentive system Employees Financials New What is evaluated? Impact Customers Incentive System Components Processes Compliance Impact / Effectiveness of Compliance Program Results of Employee Perception Surveys conducted by the employees Make Compliance a common standard in the company In 2010, compliance made up approx. 17 % of management s* bonuses * Relevant for Siemens Senior and Top Management Page 16 October 2011 For internal use only / Siemens AG/ All rights reserved

17 Compliance Perception Survey Siemens Compliance Perception Survey 2009 [Region ASEAN 1] 2009 (W) (W) (2884) (2884) Category Scores By Organizational Unit A A. [Region ASEAN ] 2009 (W) (2884) (W) (2884) E. REGIONAL COMPANY SINGAPORE (RC SG) 2009 (616) B B. Regional REGIONAL Company COMPANY [Country INDONESIA A] (RC 2009 ID) 2009 (580) (580) E Regional Company F. [Country REGIONAL D] COMPANY 2009 (616) THAILAND (RC TH) 2009 (1032) C C. Regional REGIONAL Company COMPANY [Country MALAYSIA B] (RC 2009 MY) 2009 (398) (398) F Regional Company G. [Country REGIONAL E] COMPANY 2009 (1032) VIETNAM (RC VN) 2009 (127) D D. Regional REGIONAL Company COMPANY [Country PHILIPPINES C] (RC 2009 PH) (131) 2009 (131) G Regional Company [Country F] 2009 (127) Values displayed are based on Total Favorable Colored Cells indicate a statistically significant difference # Category A B C D E F G 1 COMPLIANCE PRACTICES COMPLIANCE IMPACT COMPLIANCE COMMUNICATION MANAGEMENT CULTURE EMPLOYEE ENGAGEMENT COMPLIANCE PERFORMANCE INDEX Page 17 October 2011 For internal use only / Siemens AG/ All rights reserved

18 Compliance is not just a program it s a way of doing business Prevent Detect Respond "Tone from the Top" Organization Training Policies & Procedures / Tools Communication Centralization Conti - nuous improvement investigations reviews controls Consequences for misconduct Global case tracking Monitoring effectiveness helpdesk (incl. Global Ombudsman function) function) Integration with personnel processes Page 18 October 2011 Siemens AG 2011, Corporate Compliance Office

19 Compliance Progress Report FY 2010 Prevent Detect Respond Handeln Training 1) Participation in person training Participation web-based training Helpdesk "Tell Us" & Ombudsman Not substantiated Substantiated Disciplinary Sanctions in FY % 108 Q4 in thousands Q1/10 Q2 Q3 Q4 Q4 Q1/10 Q2 Q3 Q4 Helpdesk "Ask Us" Helpdesk "Tell Us Topics FY % Compliance Staff Worldwide 5) ) 8% 12% 86 3) Q4 Q1/10 Q2 Q3 Q4 FY 06 FY 07 FY 08 FY 09 1) Cumulative 2) Forfeiture of variable payment elements, transfer to another position, suspension 3) Compliance only one area of responsibility 4) Including Implementation Management 5) KPI not continued after successful ramp up of Compliance Organization Page 19 October 2011 Siemens AG 2011, Corporate Compliance Office

20 however, ultimately, controls are not enough. We need to continue fostering an integrity culture Questions to guide Siemens employees towards compliant and responsible behavior 1 Is it the right thing for Siemens? 2 Is it consistent with Siemens core values and mine? 3 Is it legal? 4 Is it something I am willing to be held accountable for? If the answer is YES to all of those questions, DON'T WORRY, BE CONFIDENT Page 20 October 2011 Siemens AG 2011, Corporate Compliance Office

21 Key figures FY 2010 Financial performance measures (in millions of Euros, unless otherwise indicated) FY 2010 FY 2009 New orders (continuing operations) 81,163 78,991 Revenue (continuing operations) 75,978 76,651 Profit Total Sectors 7,789 7,466 Income from continuing operations 4,112 2,457 Return on capital employed (ROCE) (continuing operations) % 6.1% Capital structure Free cash flow (continuing operations) 7,111 3,786 Dividend per share (in Euros) Employees (continuing operations) 3 Total employees worldwide (in thousands) Employees in Germany (in thousands) Some of the figures mentioned above are or may be non-gaap financial measures. For further information please refer to 1 FY 2010: including (3.6) pp related to impairment charges of billion (pre-tax) related to Diagnostics and charges of 460 million (pre-tax) related to thestrategic reorientation of Siemens IT Solutions and Services; FY 2009: including (4.6) pp related to impairment charges of billion (pre-tax) at NSN 2 Adjusted industrial net debt / adjusted EBITDA (continuing operations) 3 As of September 30, 2010 and 2009 Page 21 October 2011 For internal use only / Siemens AG/ All rights reserved

22 Collective Action is building alliances against corruption Not always easy in Asia-Pacific; but we have jointly made remarkable progress Target Group: External Stakeholders, Customers, Investors, entire Siemens Organization Enabling Collective Action through all Channels - Globally and in all Sectors Manage 100M Siemens Integrity Initiative Integrity Pacts Pacts Long-Term Initiatives Leverage top-level relations to Customers, Competitors NGOs, IOs, Chambers of Commerce Pioneered complete new concept to ensure fair and professional selection and monitoring process. Focus on projects with clear business impact, objective and measurable results and potential to be scaled up and replicated. Collective Action Initiative: Main Areas Relationship Management / Memberships Establish and manage relationship with leading IOs and NGOs, e.g.: United Nations Global Compact International Chamber of Commerce World Bank Institute Transparency International International Business Leader Forum World Economic Forum / PACI Knowledge Sharing and Facilitation Methodology and case examples Stakeholder Mapping Process Presenting at relevant external/internal conferences globally, incl. training Page 22 October 2011 For internal use only / Siemens AG/ All rights reserved

23 Sustainability as the key to success: Siemens has been in business for 163 years Für augenblicklichen Gewinn verkaufe ich die Zukunft nicht! Werner von Siemens Innovative Excellent Responsible Page 23 October 2011 Siemens AG 2011, Corporate Compliance Office

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