Effective risk management is an essential part of our culture and strategy. The accurate and timely identification, assessment and management of principal risks give us a clear understanding of the actions required to achieve our objectives.
The Risk and Compliance Management Department:
- Provides guidelines, standards and best practice examples of risk and compliance management at the corporate and business unit levels
- Is responsible for risk and compliance management systems
- Maintains the Group’s risk register
- Organises and promotes risk and compliance workshops
- Supervises the operations
- Reviews the effectiveness of mitigating actions
- Supports internal stakeholders in key strategic decisions
Areas of focus and development during 2025:
In addition, and maintaining our commitment to strengthen the risk analysis in compliance with applicable regulation, the following represent some of the actions that our Risk, Compliance and Internal Control Department undertook during 2025:
- Updated emerging risks in sessions with senior management and conducted on-site risk reviews of selected areas, enhancing the Group’s risk maturity level.
- Following the enactment of the Economic Crimes Law in Chile, the Group integrated the Risk Management framework into the Crime Prevention Model (CPM), appointing a member of the compliance team as the Crime Prevention Model Technical Secretariat.
- Reported monthly to both the Group’s Executive Committee and individual risk owners to identify and manage any deviation from what is expected, updating and monitoring critical controls and action plans.
- Continued training of risk owners and users of the framework in their roles as owners of controls and action plans.
- Prepared new action plans to maintain risk exposure within acceptable limits.
Our Risk Management Cycle
View our full risk management section from pages 80-93 of the 2024 Annual Report.