OWC tasks
The Osmium World Council, being an independent group of different partners with expertise in the financial and jewellery markets, has set itself the task of being a trustworthy authority that clarifies all questions relating to the market launch of osmium.
The Osmium-world-council regularly and randomly checks the database of the Osmium Identification Code for consistency and correctness. The aim is to transfer this task to a governmental or semi-governmental organization or to the German Ministry of Finance.
The most urgent tasks here are:
- Ensuring the international supply of osmium to jewellery manufacturers.
- Closing ranks with associations in the precious metal segment and mining companies.
- Dissemination of expertise on osmium via the Internet and other media.
- Support of cientific platforms with osmium expertise.
- Training of market participants in relation to crystalline osmium
- Finding fake news on the internet and developing counter statements.
The Osmium World Council aims to always be the bridge between an investor and an end customer for osmium jewelry in the market. For this reason, an osmium index is being developed and preparations are being made to make osmium tradable as a security on the international stock exchanges.
Training
The Osmium-world-council trains in the following areas:
1.) Get to know the business and the partners
2.) Online Training
3.) In-person training
4.) Precious metal consultant, expert, trader
5.) Training to be a trainer
The training is supervised or carried out in person by Senior President and Scientific Director Ingo Wolf.
Accessing the training online
1.) www.osmium-training.com
2.) www.osmium-academy.com
The guiding principles of good governance:
Responsibility
The Osmium-World-Council (short: OWC or council) is headed by an effective board that is collectively responsible for overseeing the long-term success of the organisation and is charged with its direction. The board approves the vision, purpose and strategies of the council and its aims. It is accountable for the oversight of the council’s actions and performance and must act in the best interests of the council.
Organisational culture
The board sets the cultural and ethical tone for the organization and sets rules for the entire osmium-market to protect consumers and partners. The governance structures are designed to encourage an appropriate organisational culture of integrity, ethics and corporate social responsibility and are tailored to the needs of the organisation.
The board codifies its expectations with respect to acceptable business practices for directors, senior executives and employees. This is done by the mutual agreements of ESG-M in collaboration with the osmium-institutes around the world. These ESG-M strategies and policies have been developed to embed ethical behavior in the entire organisation.
Disclosure of practices
The governance structures and practices that have been adopted by the board are being published in the member communication documents and on the council’s website. They are published together with the explanation of why the president considers them to be appropriate for the council, with particular focus on any aspects that are unusual or contrary to commonly accepted governance practices.
Independence
All directors exercise independent judgment. Governance structures are designed so that the president can execute independent leadership distinct from management and major shareholders or other influential stakeholders. The board has policies and procedures in place to avoide conflicts of interest. Where a member of the board has a conflict, or potential conflict of interest in a matter to be considered by the board of directors or the president, the relevant interest is disclosed to the president.
Composition and leadership
Taking into consideration the scale and nature of the council’s activities, the board comprises an appropriate number of directors who have a relevant and diverse range of skills, expertise, experience and background and who are able to effectively understand the issues arising in the council’s business, provide insight and add value. Directors are able to allocate sufficient time to their roles, both collectively and individually, to fulfill their duties effectively.
Nomination
A formal, strict and transparent procedure is in place for the nomination of the president and the election of directors and their management. A formal performance assessment is undertaken of any director standing for re-election. Only directors whose assessments are satisfactory are recommended to members of the board for re-election.
Knowledge
Directors act diligently on an appropriately informed basis and have access to accurate, relevant and timely information delivered by the osmium-institutes. The board and president work together to ensure the flow of information. There has to be a sufficient flow of information to support understanding of the council’s business and the critical issues the council faces on the world’s osmium-market. Where appropriate and necessary to fulfill their responsibilities as directors, the members of the board use their access to independent professional advice.
All new directors and board members receive appropriate induction upon joining the board. All members should also undertake ongoing and regular online education and professional development to update and refresh their skills and also their knowledge of the osmium-market and its players.
Risk
The board of directors has an appropriate system of risk oversight and internal controls in place. The Osmium Institutes around the world must receive basic information on which they can base their business.
The president and the board of directors set the risk appetite for the council, articulating how much risk exposure is appropriate for the council to achieve its short, medium and long term strategic objectives, as well as regularly monitoring and reviewing the council’s risk register in collaboration with the international osmium-institutes.
Relationship with management
There is a clear division of responsibilities between the board of directors and the committee, with the president overseeing all management functions. While the president is ultimately responsible for overseeing the council and its performance, he will delegate certain functions to management. When this applies, there should be a clear statement and understanding regarding the taks that have been delegated. The board of directors monitors and reviews the performance of these delegated tasks on an on-going basis.
Communication
The tasks of the OWC require that the council communicates with both the public and the osmium-institutes. There has to be sufficient information to make appropriately informed decisions regarding the council at any time. Communication takes place in a manner that provides all members equal access to information concerning the council and is proactive, timely, effective and easily accessible. When the council organizes a symposiom, there is a process in place to facilitate and encourage participation.
Excerpts from the OWC Constitution
This text has been translated into English to enable an international audience to engage with the contents of the Osmium World Council constitution.
However, the registered statutes are only available in German. Therefore, the English translation is not legally binding.
