Conflict of Interest Form
Annual Conflict of Interest Declaration
I, the undersigned employee of Molloy College, hereby state that to the best of my knowledge, except as disclosed below:
- Neither I, nor any member of my family (meaning my spouse, parents, siblings or children) holds any office, directorship or employment, or has any personal financial interest, directly or indirectly, in any corporation, partnership or other entity that transacts business with Molloy College or any of its affiliates
- I, as an individual, do not transact any business, directly or indirectly, with Molloy College or any of its affiliates.
- No member of my family is employed by or transacts business, directly or indirectly, with Molloy College or any of its affiliates.
- Neither I, nor any member of my family has, directly or indirectly, (i) any investment in any non-publicly-traded corporation, partnership or other entity in which the College or any of its affiliates has an investment, or in any publicly-traded corporation, partnership or other entity in which the College or any of its affiliates has a controlling interest, or (ii) an ownership interest of 5 percent or more in any publicly-traded entity in which the College or any of its affiliates has an investment (other than investments not deemed material under Part B of the College=s Conflict of Interest Policy).
- I am not related to another Molloy officer, vice-president, trustee, key employee, or highly compensated professional through family or business relationships.
- I do not receive compensation from any other organization, whether tax exempt or taxable, related to Molloy College through common supervision or common control.
- For more information, please review the complete policy at the bottom of this page.
- You are a trustee, director, officer or proprietor of, or hold a controlling interest in a for-profit or not-for-profit organization.
- You agree that if there should arise any situation of which you are aware that is in any way contradictory to the above statements, you will immediately notify, in writing, the President of any conflict, actual or potential, and will make a full disclosure thereof. You agree further that it is determined that a potential conflict of interest exists in relation to any transaction or other business relationship, you shall comply with the College's Conflict of Interest policy in connection therewith.
Acknowledgement of Your Compliance
Conflict of Interest Policy
In general, Molloy College 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 College. Business dealings that appear to create a conflict between the interests of the College and an employee are unacceptable. The College recognizes the right of employees to engage in activities outside of their employment which are of a private nature and unrelated to our business. However, the employee must disclose any possible conflicts so that the College may assess and prevent potential conflicts of interest from arising.
Per Molloy College policy, a possible conflict of interest exists if an employee (or an employees family member):
- has an existing or potential financial or other interest which impairs, or might appear to impair, that person=s independent, unbiased judgment when performing responsibilities to the College.
- has a significant business relationship with a person or firm engaging in, or seeking to engage in, business with the College.
- has a significant ownership interest, and may receive a financial or other benefit from knowledge or information confidential to the College.
- If a Molloy College officer, vice president, trustee, key employee, or highly compensated professional is related to another individual in one of said categories through family or business relationship.
- If a Molloy College officer, vice president, trustee, key employee or highly compensated professional receives compensation from any other organization, whether tax exempt or taxable, related to Molloy College through common supervision or common control.
Employees have an obligation to avoid conflicts of interest or any appearance of conflicts between their personal interests and the interests of the College. Conflicts of interest can arise because of circumstances alone (in appearance) without any action on the part of the employee. However, it is also important to recognize that in some cases the risk to all concerned is so small that the College may agree to accept the existence of the conflict.
Conflicts of interest often relate to situations where an employee uses influence with the College for personal gain.
The College expects that employees will refrain from personal activities which could cause or appear to cause a divided loyalty to the legitimate interests of the College.
- All College officers, vice presidents, directors and employees designated by the President because of their respective duties and responsibilities will disclose to the College, on an annual basis, all business interests, affiliation, and/or relationships that could reasonably give rise to a conflict of interest involving the College.
- Conflict of Interest Annual Disclosure Statements will be distributed by the Office of Human Resources to all College officers, vice presidents, directors and other employees who may be affected. The Office of Human Resources will be responsible for ensuring that all distributed statements are completed and returned to that office each year.
- If an actual or potential conflict of interest is disclosed, the effected employee shall refrain from further participation in matters to which the conflict relates until the question of conflict has been resolved. The Director for Human Resources, in consultation with legal counsel, will review the applicable facts and issues, and, together with the Vice President of the subject employee=s department, will pursue resolution of the conflict after consulting legal counsel. The President, in consultation with legal counsel, will review and determine the appropriate course of action for conflicts affecting all officers of the College.