Anti-Corruption Awareness, Compliance & Education
As Raytheon continues to grow internationally, it is incumbent upon our employees and representatives to conduct foreign business with the highest ethical standards, comply with U.S. and non-U.S. laws and regulations, and adhere to Raytheon’s internal policies and procedures.
Anti-corruption laws criminalize certain conduct committed by or on behalf of companies. Anti-corruption laws prohibit corrupt payments and/or bribes to foreign government officials, establishes accounting rules that require us to maintain accurate books and records of all transactions, and requires effective internal controls around the expenditure of funds.
WHY IS IT IMPORTANT?
It's important that we conduct business lawfully around the world. Understanding anti-corruption laws and their implications helps us do that. Anti-corruption laws are designed to drive integrity and fair dealing in global business competition. Prosecutors across the globe are increasingly coordinating with each other and enhancing scrutiny of companies who have purposefully or inadvertently violated the anti-corruption law.
OUR COMPLIANCE PROGRAM – KEY AREAS
- Commitment – The CEO and Board of Directors are regularly briefed on Raytheon’s anti-corruption matters. Additionally, senior leadership participate in anti-corruption assessments on a quarterly basis.
- Code of Conduct and Compliance Policies – Raytheon’s Anti-Corruption and Code of Conduct are made available to all new hires of the company and available in 16 languages.
- Oversight, Autonomy, and Resources – The Anti-Corruption compliance organization sits under the purview of the CEO, General Counsel, and Chief Ethics and Compliance Officer. Significant investments have been made in personnel and technology to enhance Raytheon’s compliance activities.
- Risk-Based Compliance – The allocation or personnel, resources, and compliance activities are allocated using a risk-based approach that considers a variety of factors.
- Continuous Training and Advice – Raytheon personnel with high-risk positions are provided enhanced multimedia and in-person training by subject matter experts within the company. Raytheon’s Anti-Corruption group has dedicated personnel that provide advice across the enterprise.
- Zero Tolerance – Raytheon has a zero tolerance policy for corrupt behavior.
- Third-Party Due Diligence and Payments – Raytheon understands that third-parties pose the biggest anti-corruption risk and have dedicated significant resources to developing an industry-leading due diligence process and leverages payment processes as a check on corrupt activities.
- Anonymous Reporting and International Audits – Multiple anonymous reporting systems are available to Raytheon personnel and third parties and processed in a timely basis. Internal Audit performs periodic reviews of anti-corruption activities and processes.
- Continuous Improvement – The Anti-Corruption Working Group is responsible for testing and reviewing Raytheon’s anti-corruption process and recommends improvements for implementation.
- Transaction Due Diligence – M&A is a critical part of Raytheon’s business and as such, Raytheon has developed a comprehensive pre-acquisition and post-acquisition anti-corruption compliance process.
EDUCATIONAL PROGRAM AND TRAINING
- FCPA Aware Video Modules – A series of video modules that raise awareness about key aspects of the FCPA: due diligence, gifts and gratuities, offsets, and books and records.
- Online Compliance Modules – Topics in our library of online ethics and compliance modules include: Global Bribery and Corruption, Understanding the FCPA, and the U.K. Bribery Act.
- All Raytheon personnel are required to certify that they will comply with Raytheon’s Anti-Corruption policy on an annual basis.
- Raytheon personnel with high-risk job functions are required to take additional anti-corruption training on an at least an annual basis.
- Raytheon personnel with the highest-risk job functions are provided with enhanced multimedia training and in some instances, in-person training.