Compliance and Corporate Governance

We created the Compliance and Corporate Governance Division to design, implement, and coordinate strategies to mitigate the risks of money and other assets laundering, financing of terrorism, corruption, conflict of interest, financial consumer protection, FATCA, and ethics.

Ethics Hotline

Since 2015, we have had a channel for employees, suppliers, and strategic allies to report behaviors that violate the Code of Ethics and Conduct. Additionally, according to international best practices, in 2021, we hired Ethic Global to manage the Ethics Hotline. This international firm has more than 20 years of experience in integrity programs to develop and strengthen Corporate Governance.

Risk management

Self-regulatory principles

We maintain constant documentation of processes and controls to add value to day to day management and ensure compliance with the following principles:

Transparencia

Equity and fairness

Social and corporate responsibility

Personal responsibility

Fair competition

The Three Lines of Defense Model

Since 2017, we have adopted a model that promotes a culture of self-monitoring to ensure that operations adhere to current regulations and international best practices.

First line

The members of the Board of Directors, along with the heads of the Corporate General Management, the directorates, and the management s are responsible for risk management and controls along with their teams.

Second line

The Corporate Risk and Compliance and Corporate Governance managements are the specialized bodies in controlling integral risk, as well as ensuring regulatory compliance and the prevention of money laundering and the financing of terrorism (ML/FT). Their function is to identify current and emerging risks, define and execute transversal control policies, train, and advise the front line.

Third line

Internal and external audits evaluate the activity of the first and second lines of defense on a systematic, independent, and objective basis to add value and improve risk management, control, and governance processes.

Sustainability

Our commitment to Guatemalan employees is to promote their wellness. That is why we strive to actively contribute to closing social, economic, and technological gaps. This conviction motivated us to draw up a Sustainability Strategy with two levels of relevance, which prioritizes attention to four of the 17 Sustainable Development Goals (SDGs) of the United Nations.

Workforce

We know that promoting the Guatemalan employee’s wellness must begin internally. That is why our actions to attract, retain, and develop high-performance human talent focus on offering the best working conditions. These are some of the initiatives:

  • Bantrab Corporate University
  • Medical clinics in the Guatemala, Escuintla, and Zacapa departments
  • Psychological and nutritional assistance
  • Legal assistance to guide employees in legal matters
  • Programa Futuras Estrellas (Future Stars Program): a career and succession plan for key positions
  • Sports teams: basketball, soccer, volleyball, athletics, bowling, and cycling
  • Nursing Room
  • Day Care Center
  • Cafeteria
  • Suma B+ Store