The Third Economic & Compliance Forum organized by Thomson Reuters was held last April 26. Prestigious professionals and business executives from different fields participated in the Forum. Fernando Dyer, our corporate manager of the Risk and Compliance area of Grupo Graña y Montero, was there as moderator and speaker of the Compliance and Anticorruption panel that formed part of the event.
This note describes the most relevant conclusions to which Fernando Dyer reached in the forum.
A new era for companies in Peru
The international risk and compliance expert started his presentation with an analysis of the Latin American countries. He mentioned that a couple of years ago, risk and compliance management was not given the relevance it required and which it has today. Risk managers were isolated in each country, the market had little insight on what they were doing and there were no guidelines to support them.
However, he pointed out that things were now changing. The ethics crisis suffered by the region as a result of the Lava Jato scandal that has affected 14 countries, on one side, and globalization, which permanently requires we engage in better practices, on the other, have forced companies to question themselves about their responsibility, they have pushed societies to demand more from them and have made clients more rigorous with the companies. The global market has become more sophisticated, Peruvian regulation has given large steps to face the challenge and our companies must rise to the occasion to form part of this new era.
In this scenario, Fernando explained that Grupo Graña y Montero has been facing these challenges for the past year, by strengthening its risk and compliance culture. “We are a company that has decided to reinvent itself. We have developed a full, comprehensive and systemic Compliance program that is changing the way we do business and is helping us invigorate our management. It is no longer about upholding the laws and requirements, it is about working together aligned under one same approach, one same culture”. That is the path we have taken.
For more information about the risk and compliance strengthening process, click here.