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RECOPEANNUALREPORT2014
At a corporate level, risk management is based on the Specific Risk
Assessment System (SEVRI, because of its Spanish acronym), which is immersed in
a process of continuous improvement. This system was established in accordance
with the requirements of the Internal Control Law and other regulations issued by the
Contraloría General de la República (Comptroller General of the Republic).
Among the activities associated with the SEVRI´s operation are risk
assessments at the level of processes and projects, which are carried out by both the
management level as subordinates directly responsible for the processes and project
leaders.
In 2014, the risk review carried out showed the positive effect of the
measures implemented in the RefineryManagement, to reduce the level of risks in the
areas of environment, health and safety and fire and explosion, reflecting the efforts
to incorporate more and more those elements associated security within operational
processes.
On theother hand, there´s the reductionof natural disaster risks observed
within the Distribution and Sales process. Wich arice from actions implemented
that allowed to control landslides and related cleanups in riverbeds; moreover, it is
necessary to highlight the Technological Innovation risk control in infrastructure
process, wich decrease is the result of having trained staff with a high profile, as well
as a policy it holds the leading technology available.
Risk assessment and self-assessment for department and
project leadership
Regarding the risk assessment and self-assessment for the year 2014,
which is performed with the departments leadership and project leaders, the Internal
Control and Risk Assessment Unit provided the respective support for its application,
under the methodology defined and formalized in RECOPE.
Also, work was performed regarding raising awareness with subordinates
and their liaisons about the importance of risk assessment and the timely
implementation of actions that comprise risk management plans.
During 2014, we worked in conjunction with the Department of
Information Technology and the consulting firm Deloitte & Touche S.A., in risk
assessment and completed the formulation of the Business Continuity Plan in
Information Technology, having pending the presentation to the Advisory Council,
and the Presidency approval. The implementation of this plan is undertaken by the
Information Technology Department.
Ethics and corporate social responsibility program
As part of the tasks assigned to the Internal Control and Risk Assessment
Unit, monitoringof the Ethics Programand theCorporate Social Responsibility Program
have been executed, both coordinated by the Communication and Public Relations
Department.