Genial's structure of Internal Controls was defined in a way to reflect high standards of integrity and ethical values of the Administration, to ensure compliance with law and regulations emanated by national and foreign supervisory authorities, to enforce compliance with policies and internal procedures established, and to maintain a structure which drives the understanding of the key risks coming from internal and external factors incurred by the Organization.
Consisting of the Internal Audit, Compliance and Processes areas, Genial's structure of internal controls finds integrated risk management of utmost importance, searching for the protection of the organization, its executives and our clients in an effective and transparent manner. The involvement of the Top Management and key managers with the Internal Controls is high and takes place on a daily basis and in management and control internal committees.
The Internal Audit is an independent organizational component designed to add value and improve the operations of the organization. It assists the Executive Board in order to achieve their objectives, through a risk-based methodology (Risk-based approach), monitoring and leveraging the effectiveness of risk management processes, controls and governance of the Organization. Seeking such objective, the Internal Audit will keep a professional team with knowledge, skills and experience needed to perform its activities.
The activities in Compliance value the integrated management of legal and image risks. It works proactively and enforces compliance with laws and rules based on best practices and international standards by means of processes of Conflicts of Interest, Information Barriers, Suitability, Money Laundering Prevention and Know your Customer/Client, in addition to constant tests to verify and identify risks, trainings and controls culture dissemination.
The Processes area is accountable for mapping and reviewing processes and their results within the organization. Among the best practices in the market, we highlight the MAMP - Process Analysis and Improvement Method, used by Genial. In sum, such methodology seeks to achieve the following steps: (i) Mapping of processes; (ii) Monitoring of processes and its results; (iii) Identification and prioritization of problems and causes; (iv) Corrective, preventive and improvement actions; and (v) Documentation, procedures and operational flows.