“An effective compliance system relies heavily on senior management's leadership and example”

Leaders League: How would you describe Teleperformance’s compliance structure?

Fernando Victoria Peña: I believe that our compliance system responds to the current needs and challenges faced by any large organization. We not only seek to avoid legal sanctions and economic losses, but also to promote a culture of ethics and transparency that benefits the entire organization. We have a global structure and, depending on the regulatory needs of each country, specialized internal and external staff in various risk areas, such as local and international regulations, prevention of money laundering and terrorist financing, data protection and corporate ethics. It is essential to have monitoring and auditing systems, confidential whistleblowing channels and continuous training programmes for all employees, in order to ensure constant vigilance and a swift response to any possible non-compliance.

Innovation and technology have significantly transformed compliance systems, improving both their efficiency and effectiveness. Process automation is one of the most notable improvements we seek, as it allows previously error-prone manual procedures to be made fast and accurate through the use of compliance management technology.

How to ensure that all employees respect compliance policies and procedures?

It is essential to have the full commitment and support of senior management. The implementation of an effective compliance system depends to a large extent on the example and leadership shown by senior management. This commitment must be clearly communicated throughout the organization to foster a culture of compliance and accountability.

On the other hand, ongoing employee training is another essential component, especially as training programmes should be designed to educate employees on applicable regulations, company policies and best practices in compliance. This training should not only be theoretical, but also practical, including real-world examples and hypothetical scenarios to ensure a thorough and applied understanding.

However, it is clear to us that the new generations learn differently, so selecting the right channels, media and tools for the right people will guarantee success in terms of knowledge retention and learning. Compliance processes must generate a cultural change, whereby employees integrate it into their DNA and identify at their own discretion behavior subject to risk.

“Compliance processes must generate a culture change, whereby employees integrate it into their DNA and identify at their own discretion behavior subject to risk”

What are the biggest compliance challenges facing Latin American companies?

Latin American countries have learnt that compliance systems are no longer a side-issue in their regulations, but are increasingly taking on a leading role. The world is undergoing a process of technological transformation which calls for legislators to generate new regulations, therefore the compliance systems of companies must be adaptable and continuously monitored.

As the most advanced countries begin to generate new regulations, the countries of our region must make the best decisions regarding the applicability and adoption of these regulations. It is acceptable to look for market enablers in regulatory matters, so that countries are not left behind in terms of regulation and international relations; however, it’s going to be a considerable challenge to adopt these types of models and to control them through effective compliance systems.

Beyond the resistance to change in some countries, these challenges require a comprehensive and adaptive approach to compliance management in Latin America that takes into account the socio-economic and cultural particularities of the region.