Conflict of Interest
Board members and staff have an obligation to act in the best interests of VCS. VCS needs to avoid situations where there may be real, potential or perceived conflicts of interest, which may arise where a member’s personal or family interest conflicts with those of VCS.
VCS’ Conflict of Interest Policy is embedded in our Constitution. The policy requires Board and staff to observe and to declare real, potential or perceived conflicts of interest to the Board at the earliest opportunity. Where a potential conflict of interest arises, the Board member or staff concerned should not vote on the matter nor participate in discussions. He should also recuse himself from the meeting. The reason for how a final decision is made on the transaction or contract should be recorded.
The Board has established the “Conflict of Interest Declaration” policy and the “Conflict of Interest Notification” form. Board members, staff and volunteers are required to make a Conflict-of-Interest declaration upon joining VCS and on an annual basis. In addition, they are required to declare real, potential or perceived conflicts of interest to the Executive Director or the Board, at the earliest opportunity.
Declarations are required for related parties’ transactions. Any related party transaction will be reviewed at a stipulated interval and the outcome of the review be reported to the Board and documented.
Any appointment of staff who is a close member of the family of the current Board members or staff should undergo the established human resource procedures for recruitment, performance evaluation and remuneration.
Board members or staff should make a declaration of such relationships and not influence decisions made during these procedures.