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What is Compliance?

Excellence in regulatory compliance

Compliance is not limited to a set of rules and procedures. It is a philosophy that permeates all levels of organizational culture, promoting values such as ethics, transparency, and good corporate governance.

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What is Compliance in a company?

Compliance is a set of practices, rules, and processes that an organization implements to ensure that its activities conform to the laws, regulations, norms, and ethical standards applicable to its sector and context.

Its objective is to create an environment of trust and responsibility. A space where employees feel empowered to act ethically and responsibly, even in difficult situations.

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The importance of Compliance

Corporate compliance has become a fundamental tool to ensure the long-term sustainability and success of companies, regardless of their size or sector.

It brings a set of advantages that positively impact the health and growth of the organization:

Protection of assets and financial stability

Compliance reduces the risk of sanctions, fines, and even legal proceedings, safeguarding the company's assets and financial stability. It also minimizes the costs derived from legal and reputational management.

Strengthens image and reputation

It conveys trust to stakeholders (clients, suppliers, employees, and investors) by demonstrating a commitment to ethics and transparency. It improves the perception of the company as a responsible player in the market.

Fosters an ethical and responsible culture

It motivates employees to act with integrity and responsibility in their daily work. It creates a positive and collaborative work environment based on mutual trust.

Improved efficiency and productivity

It avoids mistakes and costs derived from non-compliance with regulations, optimizing internal processes. It promotes efficiency in risk management and strategic decision-making.

How to implement Compliance in a company

The implementation of an effective corporate Compliance program is fundamental to building a culture of ethics and responsibility in the company. This process requires a series of key steps:

  1. Definition of clear policies and procedures: it is necessary to establish a regulatory framework that defines how the company is committed to complying with laws, regulations, and internal standards. These policies must be clear, concise, and accessible to all employees.
  2. Comprehensive staff training: Compliance training is crucial for all employees to understand the importance of compliance, individual responsibilities, and best practices for their daily work.
  3. Regular audits and follow-up: Compliance with standards should be monitored regularly through internal audits. This allows areas for improvement to be identified and corrective action to be taken when necessary.
  4. Implementation of corrective actions: in the event that a violation is detected, the company must act quickly and take the necessary disciplinary and corrective actions to prevent a recurrence.
  5. Foster an ethical and responsible culture: Compliance is not only about complying with regulations, but also about building an organizational culture based on ethics, transparency, and accountability. The company must promote an environment where integrity is valued in all its operations.
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Repsol and Compliance

We believe that ethics and responsibility are the foundation for success. Our values inspire the actions we take to achieve our goals and guide us on our path to becoming a global company that generates value for the advancement of society.

To fulfill this commitment, we carry out concrete actions:

1. A strong and effective Code of Ethics and Business Conduct

More than a set of rules, it is a compass that guides our daily professional behavior. It defines the principles and values we share as a team, from employees to partners and suppliers. To ensure its implementation, we have enabled an Ethics and Compliance Channel open to all, available 24/7. This platform allows any incident related to the Code or possible legal or regulatory non-compliance to be reported

 

2. A Comprehensive Compliance Model led by experts

We have developed a comprehensive Ethics and Compliance Model to protect our business, team, and company from legal and reputational risks. This model is based on our Compliance Charter, a document that defines procedures and reflects our firm commitment to ethics and integrity.

3. A tangible commitment to Compliance culture

We make it easier, through various tools, for all our employees to commit to the area of Compliance and the ethics culture. To do so, we develop different initiatives, such as Compliance Day, Compliance Awards, and continuous training.

4. Clear, accessible, and globally applicable Compliance regulations

Knowledge of and adherence to Compliance regulations is the responsibility of all employees, and is essential to ensure ethical and upright behavior in all our activities. Our extensive regulations, which cover 6 areas of action, establish the guidelines for managing relations with our different stakeholders.

If you are looking for a job where you can develop your professional potential in an environment of trust, personal growth, and teamwork, check out our job openings and join Repsol.

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