Conflict of interest

Purpose

The purpose of this Policy is to establish a standard of conduct to protect the financial well-being, reputation, and legal obligations of the University, as well as establish a method to protect the University community from questionable circumstances that might arise and to resolve any apparent or real conflicts of interests.

Policy

The University expects its employees to conduct business according to the highest ethical standards of conduct. Employees are expected to devote their best efforts to the interests of the University. Business dealings that create or appear to create a conflict between the interests of the University and an employee are unacceptable. The University recognizes the right of employees to engage in activities outside of their employment which are of a private nature and unrelated to our business. Additionally, employees are discouraged from soliciting business from or selling services to donors, students, alumni, other employees of the institution, or any other party whose relationship was formed as a result of their employment at the University. Failure to comply may result in disciplinary action up to and including termination.

Definitions

Conflict of Interest–any circumstance in which the personal, professional, financial, or other interests of an employee may potentially or actually diverge from, or may be reasonably perceived as potentially or actually diverging from, his or her obligations to the University and the interests of the University. It includes indirect conflicts, such as benefits provided to a Relative of an employee.

Relative–two or more members of the same family. For example, a spouse, domestic partner, children, step-children, parents, step-parents, siblings, in-laws, cousins, uncles, aunts, nieces, nephews, grandchild, grandparent, or any other related person or non-related person who is part of the employee’s household, or someone whose relationship with the employee is similar to that of a relationship described herein.

Procedures/Guidelines

Employees have a duty to disclose on an ongoing basis any current, proposed, or pending situations that may constitute a conflict of interest, as well as all material facts relating to any conflict of interest as soon as the existence of a possible conflict of interest is known to his or her supervisor. Prior to approving an actual conflict of interest, the supervisor must consult with the applicable area vice president. In the alternative, the reporting procedures set forth in the University’s Whistleblower Policy may be utilized.

To learn more about this policy or the supporting procedures, please contact Employee Services.

Policy updated on: Oct. 24, 2018