Risk and compliance management are important instruments of sustainable corporate governance for First Sensor.
Risk management
In order to proactively and reliably identify risks relevant to us, we survey the risk situation of our company in the areas of strategic, operational, financial and regulatory risks on a quarterly basis. The results are used not only to inform the Supervisory Board and capital market but also to enable management to take measures at an early stage.
In addition, our internal control system (ICS) deals with the proactive management of risks at the level of our business processes.
As risks also arise in the area of compliance, there is an internal training program consisting of initial and annual refresher courses on the TE Code of Conduct as well as training on specific topics. The aim of these measures is to promote behavior with integrity and prevent misconduct.
Compliance management
As part of TE Connectivity, First Sensor has integrated the TE Code of Conduct into its own compliance management system, for which the Executive Board continues to bear responsibility. It is supported in this by the TE Ombuds Office.
The Office of Ombudsman is an independent, impartial, and confidential resource to whom employees, suppliers, investors, customers, and other third parties can report potential violations of law, policies, TE standard processes, the TE Guide to Ethical Conduct or our values. Reporting to the TE Audit Committee of the Board of Directors, the Ombudsman operates separately from the business functions, enabling complete objectivity in investigative oversight. Click here to go directly to the registration form.
Data protection
We also take the issue of data protection very seriously. It does not matter to us whether this involves the data of our customers, our employees or third parties.
First Sensor uses the TE data protection management system to protect data. Transparency, purpose limitation, data minimization, accuracy of the collected data, storage limitation and confidentiality play an overriding role for us when collecting personal data.
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