Endesa Generates Increased Efficiency and Control
“The NAVEX Global system encourages compliance with our code of conduct and rules, among employees in every country where Endesa operates.”
- Sergio Gomez-Landero Perez, Fraud Prevention Manager, Endesa
European companies adhere to principles of ethical business conduct and transparency by means of self-regulation or in compliance with legislative reforms. Endesa, one of the largest electric power companies in the world and Spain’s largest utility, is also the leading private multinational enterprise in Latin America and is a major player in other energy sectors, such as gas.
Endesa implemented corporate governance mechanisms in response to mandates, but when it came to equipping an anonymous reporting mechanism and internal financial control structure for suspected misconduct, Endesa decided to act on the principles of both ethics and good business practices by choosing a partnership with NAVEX Global.
Is the Minimum Enough for Spain’s Largest Electric Utility?
Sergio Gomez-Landero Perez, Fraud Prevention Manager at Endesa, wanted to make sure the company had an enhanced set of internal controls to meet international requirements, including those for being listed on the US stock exchange.
However, for Spain’s largest electric utility, a mere hotline was not sufficient. When Endesa began searching for a reporting mechanism that could handle sensitive ethics and compliance issues around the world, the company turned to NAVEX Global.
Mandates Spur Change: Endesa Embraces and Enhances
Initially, it was a federal mandate that led Endesa to consider an external hotline provider, but the company quickly realized that it made good business sense to use the hotline as part of an enhanced set of internal controls and reporting options.
After researching the available options, Endesa selected NAVEX Global to provide a robust, flexible reporting and case management solution. Sergio Gomez-Landero Perez, Fraud Prevention Manager, points out: “NAVEX Global helps meet our obligation to have internal financial reporting controls, and helps us manage global reports of misconduct or fraud.”
The Ideal Solution: NAVEX Global’s EthicsPoint Case Management Software
Once Endesa selected NAVEX Global, it was time to implement the system that best matched Endesa’s multi-national operations. Fully configurable to align with European Union Safe Harbor and data privacy laws, the case management software put Endesa in a position of confidence in facing international business challenges.
NAVEX Global’s case management reporting mechanism allows 24/7 access to a local hotline number that is answered by a live operator in whatever language the caller feels most comfortable using. The reports are then entered automatically into NAVEX Global’s case management software. “EthicsPoint is a great and useful tool. We chose to work with NAVEX Global because their system could be adapted in a number of ways to meet our needs,” said Gomez-Landero Perez.
With a flexible system, Endesa was able to easily configure the case management software to match the company’s global operations. Sergio says he believes employees are confident in the internal audit department’s ability to resolve potential issues, and that the NAVEX Global system helps encourage Endesa employees to behave according to Endesa’s policies.
Compliance with international regulations, in itself, is a business benefit, but Endesa chose a partnership with NAVEX Global to also gain better control and insight into the organization on a proactive basis. in the subsequent months and years, Endesa has continued to increase efficiency with its internal controls, and gained greater ability to identify and resolve risk issues.
About NAVEX Global, Inc.
NAVEX Global’s comprehensive suite of ethics and compliance software, content and services helps organizations protect their people, reputation and bottom line. Trusted by 95 of the FORTUNE 100 and more than 12,500 clients, our solutions are informed by the largest ethics and compliance community in the world.