In general, a conflict of interest can be defined as the opposing interaction, or the simultaneous functioning, of mutually exclusive impulses, desires, tendencies, or responsibilities. More specifically, a conflict of interest can be defined as a conflict between the private interests and public obligations of a person in an official position. Rensselaer's approach to conflict of interest has been to establish a policy position via a resolution passed by the Board of Trustees. Rensselaer recognizes that conflicts of interest do arise from time to time, and that they need not be harmful. Rensselaer's policy position specifies to which members of the Rensselaer community the policy is applicable.
Covered individuals have a continuing duty to disclose potential or actual conflicts of interest.
An annual survey of members of the Rensselaer community is conducted using a survey questionnaire. Rensselaer's policy position provides for review of the circumstances, a mechanism for resolution of conflict situations, and reporting through the Audit Committee of the Board of Trustees. The Rensselaer Internal Control Manual provides procedural guidance on Rensselaer's system of internal control.