Ethics

By Author: Henry Ford
Total Articles: 189
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When designing an ethics program which is compliant, the most vital goal of this program is to assist authorities who govern, employees, agents and managers in working together in the pursuing of the organization purpose. This will go a long way in helping the organization in the achievement of the specific objectives and goals that it has laid out. Consistency in the standards of conducting business ethically will also be observed by the company in its paths of achieving the visions, objectives and goals that it has targeted, within a specific period of time (Kenneth, 2005).

Morgan Bank Code of Ethics
1. High standards of honesty and integrity are required, which are inclusive in procedures which should be properly and ethically carried out when dealing with situations which are actual or apparent in bringing conflict between personal interests and professional relations.
2. Accuracy, fairness, comprehensiveness and punctuality are required when periodically disclosing reports which are filed by Morgan bank with regulatory and governmental agencies.
3. Compliance with rules, regulation and laws that ...
... pertains to banking is a requisition.
4. Addressing, of apparent and potential conflicting interests, is done and a guideline is given to directors, employees and officers on how to successfully communicate them to Morgan Bank.
5. Misusing and misappropriating of corporate opportunity and property belonging to Morgan bank is required.
6. Confidentiality and fairness in dealings outside and within the environment of Morgan bank is required.
7. Behaviors that are illegal should be reported to Morgan bank as soon as possible so that appropriate actions are taken.
The above codes of ethics have principles that apply to all employees, directors and officers belonging to Morgan bank. Conflicting of interest occurs when individual interests are interfering or appearing to interfere with those of the company in any way. It is expected that situations that might lead one to material or real conflict should be avoided by officers, directors and employees of the bank.
Any interest or position that pertains to finance or otherwise, which could bring performance conflict within Morgan bank should be avoided as this will stop the organization from achieving its goals and visions. An interest that affects the judgment and independence of transactions that are carried out by the company with its competitors, suppliers and customers and brings a negative reflection on the bank, is considered as an interest which is conflicting (Monroe Bank, 2009).
Avoiding such conflicts is necessary as financial loss is eliminated since people who exhibit sound judgment will look out for the best deals for the bank, which ensures that resources are optimized without unnecessary losses. This will in turn have an impact on the performance and productivity of the bank enabling it to beat the other competitors in the field and yield a large customer base.
Information that is not made public by the bank regarding its employees, customers, suppliers and other companies should be treated with a lot of confidentiality. Directors, officers and employees are supposed to act as trusted custodians of such information and confidentiality should be maintained unless authorization is given by members from the executive management or the law requires it or it is demanded during proceedings that are legal. This confidential information should only be used for business proceedings and employees, who don’t need it for their duties, should not have access to it (Monroe Bank, 2009).
People demand a lot of confidentiality when it comes to matters pertaining to their financial situations. Any reputable bank has to have all the financial and asset information regarding their customers to help in assessing their credit ratings and loans payments. This will help the bank in refraining from giving loans to people with weak credit ratings and defaulters, which can lead to financial losses. If a customer is aware that confidential information availed to the bank is leaked to other people, they may sue the bank. This can lead to loss of confidence in the bank which will in turn lead to loss of customers. This information can fall in the hands of fraudsters, which can be detrimental to the bank.

Employees, officers and directors have the duty of advancing the legitimate interests of the bank whenever an opportunity presents itself. It is wrong for anyone to use their position, information or an opportunity for their own individual benefit as this can lead to harmful competition with the bank. Accepting gifts from customers and other parties that the bank engages in business with is wrong (Monroe Bank, 2009). This move is aimed at curtailing corruption within the bank, as all customers should be served equally and fairly without soliciting of bribes. Directors, employees and officers should use any corporate opportunity in ensuring that the goals and objectives of the bank are accomplished, with productivity and profits maximized. People, who pursue their own selfish gains using bank opportunities, are a threat to the success of the bank now and in the future.
Buying the banks security and common stock with the help of confidential material information from the company, which impacts greatly in the market price of the securities and stock is illegal and unethical. This cushions the bank stock and securities from having artificial inflations or deflations that are normally created in the stock market by people with inside information about the stock and securities present in a company. It is highly likely that the bank will also be in possession of such information belonging to another company. The largest share of the banks capital is held in securities and shares and thus information pertaining to these two should be safe guarded (Monroe Bank, 2009).
A written report and an approval is expected to grant permission to employees, officers and directors to act in the capacity of advisors, consultants, officers or directors in any other organization of business. This is to ensure that independence is maintained and conflicting interests do not arise. Rivalry is not encouraged in the banking industry but healthy competition is allowed. It is wrong for any bank to lure employees from another bank in order to access its strategies and plans and hijack them as their own. This will lead to a breach in the rules and regulations that have been laid out by the government, whose main aim is to govern ethics and integrity in banks relationships.
The out performance of the bank to its competitors is to be carried out honestly and fairly through performing superiorly. This should not be done through business practices which are illegal and unethical. Possession and utilization of stolen information which was accessed without the consent of the owner is prohibited. Employees should refrain from disclosing information of previous employers and companies. Fair dealings should be carried out between suppliers, customers, employees and competitors (Monroe Bank, 2009).
This safe guards the bank from litigation by other companies, which perceives the leakage of information as a breach of confidentiality and ethics. The bank wants to maintain a clean record of achieving success fairly and not through dirty means to attract a large number of customers. The filings of the bank with the exchange and securities commissions should be done accurately and on time as this will give an assurance the public reports given by the bank are complete, understandable and fair. This is to ensure that the bank has fulfilled the requirements needed for public disclosures.
A violation to the code o f ethics or illegal activities in business or at work should be reported by directors, employees and officers of the bank to the appropriate supervisors and authorities within the bank. These behaviors should be reported to any level of management within the bank until a responsive action is taken against the offender. Such behaviors will be thoroughly investigated and the informant will be accorded confidentiality. A solution will be found within the structures of the bank, unless the illegal behavior demands litigation. This will protect the banks reputation as the employees will not be contravening the rules and regulations by engaging in risky and illegal behaviors (Monroe Bank, 2009).

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