Conflict of interests in a playful way

As every year, also in September 2024, experts associated in the Slovak Compliance Circle met in Bojnice for an autumn workshop. This year was dedicated to a current and at the same time sensitive topic – conflict of interests. In a conflict of interest, as in chess, the threat can be greater than its execution. Therefore, it is not enough to just prevent conflicts, but it is also necessary to identify them and manage them effectively. However, this is not an easy task, which is why it is important to share experiences and best practices with colleagues.

The Slovak Compliance Circle (SCC) provides space for the exchange of ideas, best practices and practical experience. This workshop was a clear proof of that.

A playful approach to a serious topic

This year, we took the topic of conflict of interests in a playful way. Under the guidance of guarantors from the Slovak Compliance Circle, we worked in small groups on a complicated case of a possible conflict of interests. Each group had the task of untangling the net of relationships, analyzing the situation and proposing solutions. This process allowed us not only to expand our knowledge, but also to gain a new perspective on the issue thanks to colleagues from other compliance industries.

The main benefit of small groups was the opportunity to observe how experts from different fields approach problem solving. In this way, SCC members could inspire each other and learn from each other.

Gamification as an effective educational tool

Play school is one of the most effective methods of education, and this also applies in the field of compliance. Gamification allowed us to discuss such a serious topic as conflict of interest with insight and ease. This concept not only facilitates the understanding of complex situations, but also promotes cooperation and creative thinking.

Conflict of interests is one of the main topics of compliance and its importance is constantly growing. Unmanaged conflict of interest can have devastating consequences for society and individuals. Therefore, it is the task of compliance experts to identify these conflicts, prevent them, manage them and, if necessary, investigate them.

Sharing is caring

The organizers spent hours preparing this case study and we had the opportunity to spend a morning full of discussions, creative thinking and practical activities. The result was not only a deeper understanding of the conflict of interests in practice, but also a broadening of horizons thanks to colleagues in the team, their insights and approach to solving problems.

The autumn Slovak Compliance Circle workshop was once again an unforgettable event that not only expanded our knowledge, but also contributed to the personal and professional growth of the participants.

Tibor Baniar

Compliance Officer, Erste Asset Management GmbH, pobočka Slovenská republika