Governance & Transparency

Governance is essential to the current and long-term sustainability;

... there is a close link between strong governance and growth in business performance.

Lion has a robust corporate governance framework, which is summarised here. Lion’s Competition Law Compliance can be found here.

Strong governance ensures we allDo the Right Thing’ and effectively mitigate and manage our risks, both as individuals and as an organisation, and comply with all required rules and regulations.

Governance is important and is everyone’s responsibility.

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Governance

Governance@Lion includes these key elements:

  • Leadership Principles. Our Leadership Principles underpin our governance culture; they define how we work to grow our people and our business
  • A business leadership goal with governance requirements
  • Policies, procedures and practices
  • Compliance training. There are 6 compliance training modules that everyone at Lion must complete every 2 years
  • Role responsibilities. Everyone is responsible for performing the key accountabilities and responsibilities as outlined in their role profile

Each of our leaders is also responsible for effective risk management, specifically:

  1. Identifying potential risks before they materialise
  2. Putting plans in place to lower the chances of the risk eventuating
  3. Mitigating the effects of the risk should it eventuate

We use a mechanism called a Significant Incident Notification (SIN) for capturing and communicating actual or potential exposures arising from irregular events or transactions.

Our people can call a SIN hotline to report incidents with an expected major or severe impact on the business. The relevant finance director or corporate functional leader is responsible for ensuring that the SIN process is commenced immediately.

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Competition Law Compliance

Lion takes its competition law obligations very seriously.

Our comprehensive training and compliance program includes:

  • Competition law compliance policy
  • The Golden Rules – a quick competition law reference guide
  • Online training module using hypothetical case studies
  • Face to face competition law training and discussion sessions
  • An intranet portal where team members can readily access competition law resource materials

Our competition law program compares favourably with AS3806-2006 Compliance Programs Standard, as demonstrated by annual assessments which allow us to update and improve the program as required.

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