The compliance process is headed up by the Executive Committee and the Ethics and Compliance Committee.
In adition to these bodies, company governance is ruled by the Compliance Officer, the Compliance Owner, the Compliance Agent and the Process Owner. Check out the structure below:
Ethics & Compliance Committee
(Risk Management, Auditing & Compliance Director)
(Corporate-wide comprehension-one person defined for each subject to be monitored)
(Key person of a process per BU –one or more Agent defined for each subject to be monitored)
(one or more defined for each area exposed)
Responsible for discussing the main compliance events and approving their inclusion in the annual internal audit plan of reviews to guarantee the process is suitably executed. Also responsible for annual budget approval and for defining the members of the Ethics and Compliance Committee.
Responsible for assessing the compliance process and improvement and adaptation proposals.
Responsible for supervising the compliance process independently and objectively.
Responsible for monitoring the compliance of processes with the laws, regulations and internal, policies and rules.
Responsible for being the facilitator and guardian of the compliance process.
Responsible for monitorng the operation of the area on a day-to-day basis.