Service Line

GOVERNANCE, RISK, FRAUD & COMPLIANCE (GRFC)

Organizations in their cycles of operation and special projects are exposed to challenging situations due to the environments in which they operate; more so when they frequently operate in changing and in some cases unstable legal, political and social environments.
 
These threats can promote fraud events perpetrated by officials who make decisions contrary to corporate standards and the law under everyday conditions.
 
To deal with these situations from their own corporate governance, organizations must have adequate discipline in risks, which allows them to identify them and respond in a timely manner with the establishment of controls and measures and which safeguards them from fraud events or other types of infractions.
 
Having clear rules of action before its stakeholders is equally essential, since organizations must be generators of trust and legality in order to achieve their business objectives.
 
The consequences of the materialization of risks are serious, in addition to causing legal and financial impacts, and legal implications to its managers and collaborators, the reputational damages that are generated can be very high and even threaten their own survival.
 
Given this scenario, the risk must be objectively avoided and the possible impacts, if it cannot be prevented, must be minimized, especially when faced with investigations and requirements by government and judicial entities.

Fernando Niño is our leader in the Governance, Risk, Fraud & Compliance Service Line (GRFC).

specifics and approaches in GRFC

Brochure GRFC

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CASE STUDIES

A selection of case studies showcases the experience of the leaders associated with CONEXIG. Many more cases related to this Service Line may be presented upon express request and in some cases, under an NDA.

Location: Ipatinga, Brazil

Client: Usinas Siderúrgicas de Minas Gerais S.A.   

Scope: Felipe Gutierrez was responsible for the outsourcing of internal audit services of the construction work of the Coquería 2 project. The scope of the analyses carried out included: (i) evaluation of contracts and compliance by major contractors; (ii) compliance with payment processes with measurements, contractual clauses, etc.

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Location: Brazil

Client: Samarco Mineração S.A.

Scope: Felipe Gutierrez was responsible for the implementation of a Diagnostic Project to evaluate whether the company had Compliance management practices in line with good market practices. The scope of the analyses carried out included: (i) use as the basis of the work a Compliance Methodology based on 4 main areas: 1. Corporate Governance and Culture, 2. Policies, processes and procedures, 3. People and 4. Monitoring, testing and reporting; (ii) areas included- sustainability, environment and security, controllership, finance, taxation, treasury, risk and insurance, internal controls, supply and procurement, internal audit, legal, human resources, public relations, corporate governance, ethics committee, ombudsman, investor relations, planning and budgeting, IT, commercial and corporate support services; (iii) we mapped the roles and responsibilities, and conducted a gap analysis, a benchmarking exercise and others.

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Location: Latin America

Client: Owner in the mining industry

The service included the performance of a Health Check review of the Program Management techniques to manage project risks for one of the, at the time, largest Latin American mining and steel producers, which were applied to manage a US$14 billion expansion program (CAPEX). This included to identify measure, assess, mitigate and monitor their major project risks and involved the project engineering / procurement teams with specific focus on Scope management, Schedule management, Budget control and cost management, Risk and issue management, and Contract & Procurement Management. As a result of this assignment new CAPEX policies and procedures as well as revised internal controls were implemented throughout the organization.