Executive Board of Corporate Governance and Compliance
The Executive Board of Corporate Governance and Compliance of CVC Corp was implemented in 2020. As of the following year, the position of Chief Governance and Compliance Officer was established, whose duties include the definition, monitoring of the implementation and constant improvement of corporate governance processes; the relationship with the Statutory Audit, Risk and Finance Committee through the Internal Audit area; and the coordination of the Compliance area.
Since then, the Executive Board of Corporate Governance and Compliance has been structured to better apply its competences, currently operating with direct reports from the following areas: (i) Strategic Alliances and Governmental Relations; (ii) Legal and Compliance; (iii) Corporate Governance and Corporate Law; and (iv) Audit and Internal Controls.
Strategic Alliances and Governmental Relations
Implemented in November 2022, the structure of Strategic Alliances and Governmental Relations conducts CVC Corp’s institutional dialogue with the Government, strengthening the relationship with governmental institutions.
In order to assign priority to risk control and mapping in this environment and to identify opportunities aligned with our strategic planning in view of the potential of Brazilian tourism, the area has the support of the Executive Board of Governance and Compliance in its entire structure, as other areas may offer assistance.
Legal and Compliance
The Legal and Compliance structure brings together the areas of: (i) Compliance; (ii) Consumer Law; (iii) Business Law; (iv) Data Protection; (v) Businesses and Contracts; and (vi) Planning and Control. Therefore, we have teams dedicated to complying with current legislation and regulations, offering support to every area at CVC Corp.
Since the implementation of the Compliance area, fundamental tools have been reviewed and introduced for the development of best practices, including proper risk control. Examples include the new Code of Ethical Conduct, the Ethics Channel and the Ethics Commission.
Corporate Governance and Corporate Law
The Corporate Governance area was created in 2021 having then merged with the Corporate Law area in 2022. Corporate Governance and Corporate Law has since formed a united front, optimizing advisory and the better monitoring of due diligence processes, from necessary exchanges within our corporate structure to acting with regulatory bodies.
In direct contact with CVC Corp’s Corporate Governance Structure, it has acted with transparency and haste to implement and improve fundamental processes in support to the business.
Audit and Internal Controls
In 2020, as part of adjustments made to our organizational structure as a whole, the then Internal Controls area went on to answer to the Executive Board of Governance and Compliance.
In 2021, the Internal Audit area was created, which reports directly to the Statutory Audit, Risks and Finance Committee and administratively reports to the Executive Board of Governance and Compliance, routinely presenting the Annual Internal Audit Plan, as well as the monitoring the status of action plans and the results of work conducted by the area.