Corporate Governance Standards
At Banco BASE, we believe that Corporate Governance -- the rules, practices and processes by which a company is managed and controlled -- encompasses the rights, rules, obligations and relationships between management and its board of directors, stockholders and third parties. It provides the underlying structure that contributes to the objectives of the institution, to monitor its performance and to verify that these goals are met.
Some of the basic principles of Corporate Governance are the following:
- Ensure that the organization’s strategic vision exists, and that an organizational paradigm exists.
- Ensure management transparency and carry the highest regard for the same.
- Identify, manage and control risks that are inherent to the company’s business objectives
- Define both ethical principles and social responsibility.
- Acknowledge third parties who are interested in the success, stability and longevity of the company
- Be compliant with all legal and regulatory processes.
- Prevent illegal operations and conflicts of interest.
- Report observed illegal and unethical behavior with no retaliation to the whistleblower.
- Work to reinforce consistency between the ethical standards and the vision and comportment of the corporation.
These basic principles allow corporations to effectively and ethically conduct business. Their spirit and practice need to be integrated into the culture of the company and observed by everyone -- from the top management down, so that they permeate every single activity, in every sphere of the corporation.