Peruvian entrepreneurial sector is undergoing a transformation process; adopting measures to raise corporate governance, risks and compliance standards, thus reaching the levels required by society today as a condition for doing business.
In view of this, during the past month, renowned, prestigious institutions in the country held many events aimed at promoting and developing greater knowledge on the importance of corporate governance as well as managing risks and being compliant in various sectors; revealing also the place that the area should have within the organizations.
Our Corporate Risks and Compliance Manager, Fernando Dyer, took part as a speaker in four of these events and, in this note, we would like to share with you his key messages, based on Graña y Montero Group’s learnings and experience:
- Graña y Montero opted for undergoing a transformation with a clear strategy towards a sustainable future. The Group knows today that a strong corporate governance together with risk management and compliance is a key element to accomplish it.
- The system we have created is strong and driving enough to speed up our cultural transformation process, because it incorporates risk management across the different fields in our businesses. For instance, before engaging with third parties, we perform a risk analysis determining potential problems, we evaluate whether they fall within our appetite for risk and develop mechanisms for their mitigation.
- An important feature of our system is the fact that it has been developed in-house together with the lines of business, is customized, and aims at being fully applicable to our activities as well as being backed up by all leaders.
- The ethical crisis experienced by the region has made companies to start asking themselves about their internal management, the society to demand more and clients to become stricter in selecting who to sign contracts with.
- We have understood that companies should not only comply with the highest standards but also incorporate risk management and compliance within our organizational culture as key element of a sustainable business.
Lastly, Dyer said that the company will continue working until becoming the benchmark of risk management and compliance in the region.