The Compliance Program of the Ecopetrol Business Group
Apr 30, 2020

The Compliance Program of the Ecopetrol Business Group that is regularly updated, based on ethical verifications, the annual risk cycle, outcomes of the commitment to transparency, current regulations and good practices, includes aspects such as:

  • Specifics objectives of the Program
  • Components of the Program: Continuous improvement, prevention, detection and response
  • Tone at the top – Responsibilities
  • Ethics principles and guidelines
  • Activities of the Program
  • Internal handbooks, guidelines and procedures
  • Guidelines for human talent management
  • Internal and external assurance
  • Collective initiatives
  • Assessments of the effectiveness and achievements of the Program
  • Training and communications results.
  • Applicable law and regulations for the Program
  • Mechanism for advice and concerns about ethics

It is leaded by the Board and Directors and the Corporate Compliance Vice-presidency which is an independent area that reports to the Audit and Risk Committee of the Board of Directors. This Vice-presidency is integrated by the Ethics and Compliance Office, the Assurance of risks and internal Controls Office and the Disciplinary Control Office. It also has a Control Entities Attention Group, a Communication and Training Team and a Monitoring Team. The groups companies that consolidate in the financial statements have compliance structures with a leading Compliance Officer that has a dotted line -functional- report to the Corporate Compliance Vice-presidency.

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