Disability Register: Ensuring Trust and Transparency

What is a competence register - and why is it important?

In both the public and private sectors, there is growing awareness of the need to ensure integrity and trust in decision-making processes. One of the most important tools for achieving this is a competence register, but what is it really, and why has it become so relevant?

What is a competence register?

A competence register is a tool that makes it easy to register, assess, and follow up potential conflicts of interest in an organization. It serves as a structured overview of:

• Employees' (or their close relatives') roles, positions, and ownership stakes

• Relationships to close persons and companies

• Gifts given and received, listed in a gift register

• Self-declarations and competence assessments

A modern competence register also allows for linking information to external registers, which automatically notifies the organization when potential conflicts of interest arise.

Why do organizations need a competence register?

A competence register collects information about relationships, financial interests, and other factors that may create conflicts of interest. This can, for example, include:

• Ownership stakes in companies

• Board positions or other roles in organizations

• Family relationships that may affect decisions

• Previous engagements that may be relevant

By having this information readily available, organizations can quickly assess competency issues and implement necessary measures to ensure objective decision-making processes. The competence register provides a clear overview of potential ties between employees and the market and ensures compliance with internal guidelines in a structured and efficient way.

Who should have a competence register?

All organizations that make decisions where competence may be an issue, especially in industries where financial interests and decision-making overlap, can benefit from such a register to strengthen transparency and integrity. This especially applies to:

1. Public agencies and municipalities

Have a special responsibility to ensure competence in accordance with the Administrative Act and the Local Government Act, and must be able to document objective and transparent decision-making processes.

2. Large organizations and corporations

Often operate with complex structures and geographical spread, which makes it challenging to follow up on competence assessments without a central system.

3. Organizations with large procurement departments

This often involves handling many and large purchases, where the consequences of conflicts of interest are significant, and the need for traceability is important.

4. Financial institutions and asset managers

Both regulated and unregulated actors handle sensitive decisions and the assets of others. Here, transparency and trust are crucial for reputation and risk management.

5. Foundations, research environments, and non-profit organizations

Manage funds and assign roles, requiring transparency and verifiability to maintain trust and legitimacy.

How to implement a competence register

A competence register is easy to use when built on clear guidelines and a user-friendly solution. It requires little administration, while keeping the information up to date and making sure employees have a clear understanding of what needs to be reported. With a smooth implementation, the register can quickly become an effective tool for strengthening trust, preventing conflicts of interest, and ensuring a more open decision-making process.

Arx Compliance offers digital solutions for competence registers that can be tailored to your organization's needs. Is your organization ready to implement a competence register? Contact us for a non-binding conversation!