The Company has a Risk Management and Compliance area, which works to prevent and mitigate threats, asset security and process transparency, in line with the Company's goals and values. Risks for the Company or its operating segment are mapped and measured, such as strategic, operational, regulatory, financial, political, technological and environmental risks.
Faithful to the strategy to constantly improve, the segment is under review with all risk forms identified, scheduled to finish in 2022. Action plans were linked for all risks and risk factors identified and are under discussion and implementation with the risk owners or agents.
Guided by a risk mapping and mitigation system, our Risk Management Policy applies to all Even's management bodies and departments and covers all the Company's processes and professionals. The risk management structure is based on the Internal Audit Institute's (IIA) Three Lines of Defense Model:
1st Line of Defense
Including managers responsible for managing the risks in their areas and accountable for them;
2nd Line of Defense
Aims to support the first line of defense so that they fulfill their responsibilities, monitor risks and provide the due knowledge and tools for this process;
3rd Line of Defense
Its mission is to carry out an objective and independent assessment of the Company's risk management, controls and governance. The process is based on international methodologies, such as ISO 31000:2018, COSO ERM and IIA.
