Ethics in Management - Organizational Analysis - Bank of Montreal Financial Group.

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McGILL UNIVERSITY

Faculty of Management

MGPO 450 - Ethics in Management

Organizational Analysis

Bank of Montreal Financial Group

TABLE OF CONTENTS

1.0 Introduction 3

2.0 BMO's Code of Ethics: First Principles 4

2.1 The development of the Code 4

2.2 Analysis of the Code 5

3.0 Training, Communication and Control 8

3.1 Training 8

3.2 Communication 8

3.3 Control 9

4.0 Evaluation of BMO's Ethics Program 10

4.1 Values or compliance 10

4.2 Trends and Challenges: 11

5.0 Recommendations 13

5.1 Formal and specific ethics training 13

5.2 Despite industry shift to compliance, remain values-based 14

5.3 Introduce employees to the corporate compliance office 14

5.4 Exchange of information 15

6.0 Conclusion 16

Bibliography 17

Appendix A: The Bank of Montreal Financial Group 18

1.0 Introduction

Ethics has recently become an important topic of discussion amongst directors across North America's boardrooms. Whether this is a response mainly to prevent their company from being involved in the next 'scandal' or whether it is driven by changing societal values and increased competition, there is no doubt that