Risk Control Systems

Control systems

Risk control systems

Risks are identified and control measures are established in all corporate and business spheres using the system shown in the following diagram:

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The procedure is based on international global risk management standards (IRM, AIMC, ALARM. 2002).

The information used by the system is generated through a small work-team that includes the heads of the Finance, Quality & Environment, Human Resources and Legal departments, directly supervised by the General Manager. All members of the team belong to management.

The risks that are detected are assessed and prioritized by a standardized semi-qualitative procedure based on a system of relevant reliable indicators, describing in each case the control and management measures established. This information is transmitted periodically to the corporate level, where it is compiled and cross-checked before notifying the Board's Audit and Control Committee. In order to facilitate the identification of the main trends and decision making, the system has a graphic output that integrates all the information in a comparable format (risk map).