Ethics and Corporate Governance

Ethics and Corporate Governance

Ethics & Corporate Governance System

The individual behavior and coherence of our actions with respect to the Corporate Principles are decisive to achieve the common purpose that we have as an Organization: to create well-being and sustainable development for people, organizations and society.

The development of a Corporate Governance scheme, based on ethics, allows us to have:

  • Framework of action.
  • Better organizational functioning.
  • Assigns responsibilities to the management bodies.
  • Recognizes relationships with interest groups.
  • Better use of resources, greater administrative and accounting transparency.
  • Balance between interests that can be opposed.

Within the framework of our management, in addition to the Code of Good Corporate Governance, we have:

  • Code of Conduct: It is a guide for decision making, it guides the expected behavior on the part of our work teams, that is, employees, advisors, administrators and members of boards of directors, in their relationship with the different groups of interest, and contributes to the identification of situations that affect business ethics and the society of which they are a part.
  • Ethics Committee: Body responsible for developing strategies to strengthen standards of ethical conduct within the organization. Likewise, it acts as the highest authority for the resolution of conflicts and situations that affect the corporate principles of the companies. It is made up of an odd number of members of Senior Management as provided in the internal regulations of each Committee.
  • Ethics Line: means to report possible irregularities in the observance of corporate principles.

Committees of the Board of Directors

These committees will present their recommendations to the Board for its deliberation and approval. The Board of Directors shall appoint the members of each Committee and shall approve the regulations governing its operation, which are part of the Code of Good Corporate Governance. The period of its members will be the same period established for the Board of Directors, being able to be reelected or removed at any time by the same Board.

Know the Regulations of our Board of Directors.

Sustainability and Corporate Governance Committee

It is made up of 3 members of the Board of Directors; the Chairman of the Board attends as a guest. It meets at least twice a year and has responsibilities vis-à-vis the Directors, the Board of Directors, the Administration, and the good governance of the Company.

This committee is formally responsible for the Sustainability aspects of the Company, such as: evaluation and monitoring of social, environmental and political trends that may affect the Company and its subsidiaries, and their results; monitoring the performance of the Company and its subsidiaries in the environmental, economic, social and reputational aspects; monitoring the management and mitigation of non-financial risks; and review of information of a non-financial nature that the Company makes available to the market.

Know the Regulations of the Sustainability and Corporate Governance Committee.

Miembros:

Appointments and Remuneration Committee

It is made up of 3 members of the Board of Directors and meets at least twice a year. Their duties are framed in the following subjects: guidelines in matter of human talent; retention strategies and development of human talent; succession plan; performance evaluation of senior management and CEO of the Company; guidelines for the remuneration of the Directors, as well as of the administrators according to their individual performance and in front of the company.

Know the Regulations of the Appointments and Remuneration Committee.

Members:

Risk Committee

It is made up of 3 members of the Board of Directors and meets at least twice a year. Responsibilities are attributed to the Company’s risk management, including: analyzing and assessing the ordinary management of risk in the Company, in terms of limits, risk profile, profitability, and capital map; propose to the Board of Directors the Risk Policy of the Company; submit to the Board of Directors proposals for delegation rules for the approval of the different types of risk.

Know the Regulations of the Risk Committee.

Members:

Audit and Finance Committee

It is composed of 3 independent members of the Board of Directors and meets at least 4 times a year. It has the responsibility to generate and promote a culture of supervision in the Society. The responsibilities of the Committee are enshrined in article 37, letter b. of the Articles of Association and in article 2.1.4.4 of the Code of Good Governance of the Company.

Know the Regulations of the Audit and Finance Committee.

Members:

Ethical Line

Our Ethics Line is a confidential and secure mechanism that is available to all our stakeholders to report any situation that threatens the ethical performance of the Company and the corporate principles that our employees must observe.

To report the case, you can fill out the form that you will find below or write us through lineaetica@gruposura.com.co

Report case

Media center