Comply with regulations and ensure ethical conduct in accordance with international standards.
To this end, and following the enactment in 2009 of the criminal liability law for legal persons in Chile (Law 20.393), ME Elecmetal decided to implement a Crime Prevention Model to comply with the law and ensure that its operations were framed within ethical standards related to the crimes indicated in the law. The law originally established three offenses, which have been gradually increased. These offenses are related to money laundering, financing of terrorism, receiving, bribery and incompatible negotiation, among others.
The crime prevention model was designed and developed, which contemplates different activities and governance or support areas.
There are 4 instances to monitor and manage the different activities developed:
The activities that are managed and monitored in the Model are related to prevention, detection, response and monitoring/updating in relation to workers, customers and suppliers.
In terms of prevention, one of the most relevant activities is the training of workers, a mandatory activity that is carried out each year online, with the participation of operators and administrative staff, with a special focus on supervisory and administrative positions, the latter being those who are most exposed to risks related to the crimes defined in the Law, due to the responsibilities they may have.
In addition, ME Elecmetal applies a due diligence process with new clients to ensure the nature of their ownership as well as their financial solvency.
Having a robust model to comprehensively address the risks related to the offenses indicated in the law. In addition, this allows ME Elecmetal to work with confidence in case any risk of non-compliance materializes.
Specifically, the ME Elecmetal Model covers: instruments, risk matrix and controls, whistleblower channel, training and governance for its management and monitoring.
“At ME Elecmetal, it doesn’t matter how business is done. Business must be conducted within a framework of ethical responsibility, ensuring unrestricted compliance with local laws and regulations and the expectations of our stakeholders,” explains Rodrigo Carreño, Internal Audit Manager, ME Elecmetal.
“ME Elecmetal Sudamérica’s Crime Prevention Model is certified by the consulting firm BH Compliance, which helps us to ensure the controls we are implementing to mitigate the identified risks.”
In October 2022, the certification of the Crime Prevention Model was renewed for two more years, until 2024.
Work is currently underway for the next certification process.
With respect to the training carried out in 2022, the number of employees trained increased by 7% compared to 2021.
In 2022 we also implemented the electronic form for declaring conflicts of interest through a platform with an external provider, which improves the quantity and quality of information related to conflicts and potential conflicts of interest that Elecmetal employees may have.
BH Compliance, who follow up on the risk matrices and the controls applied for their mitigation and grant the Crime Prevention Model certification.
B-GRC, who technically administer the conflict of interest form.
Fundación Generación Empresarial, which technically manages ME Elecmetal’s Whistleblower Channel.
