V.Group maintains a Group Risk Register which is used to record and manage the Company’s exposure to potential business risks which could have a material impact on its performance or reputation, for example customer under-funding or bad debts. The Group Risk Register is reviewed as part of the first agenda item at every monthly Board meeting, including discussion of how management are addressing identified risks and the approach to taking any corrective actions which may be deemed necessary.
Ethical business conduct is fundamental to the reputation and success of V.Group. The Company has comprehensive policies and procedures in place to identify and mitigate bribery and corruption risks throughout its operations and these form an integral part of the V.Group operating framework. Policies are disseminated through the V.Group Operating Framework document and employee handbook and are reinforced through a bespoke training package developed by the Company’s Marlins Business. V.Group’s IT system have been developed with built-in checks and balances and all payments made and received are transparent with a full audit trail for all transactions. A referrals committee, comprising the Group CFO, Internal Counsel and the CEO and Managing Partner of Capital, review any contracts involving commission arrangements to ensure that they are within acceptable guidelines.
The Company’s legal advisers have carried out a review of this area as part of a legal Vendor Due Diligence report which will be made available to potential purchasers in the next stage of the process. V.Group is not aware of any bribery, corruption or other non-compliance issues affecting the Company.
- Matt Dunlop
- Group Director - Ship Management
- Tel: +44 (0)141 243 2435