As part of the GRC project, work began to implement a tool to make management more efficient, reducing operating time and allowing additional analysis. After arduous research, it was decided in November 2011 to use the IBM solution. The implementation began in April 2012 and ended in December of that same year.
 
IBM OpenPages is an integrated platform of governance, risk and compliance that allows managing and assessing risks across the enterprise. This system provides a set of core services and functional components that cover the domains of regulatory control and risk, including operational, policy, compliance, financial controls management, IT governance and internal audits.
 
With the implementation of OpenPages, DCV became a success case in Latin America: “the DCV Project was very strategic and important for IBM, as up until then we had no client using OpenPages GRC in Latin America.  During our initial meetings with DCV, we were pleasantly surprised to find out that they not only were seeking a solution to integrate and streamline their risk and compliance management, but that they had already defined their methodology. This is a big step, as DCV knew what they wanted. Therefore, they could quickly define the framework of the solution to meet their goals. At the same time, they could profit from the pre-packaged plan and tools in the OpenPages platform because their methodology was aligned with the best practices of risk management,” says Nelson Pinochet, Director of GRC Solutions for the Americas at IBM.

“This partnership with IBM added efficiency to the management and improved reports and standards. In a very short time, DCV went from being an organization with manual processes of risk and compliance management to being the most advanced organization in this area throughout Latin America.  Thus, earlier this month, DCV shared its experience in one of the most popular events of IBM in Las Vegas – with more than 13,000 participants.  There is a lot of interest (globally) in the risk methodology that DCV has implemented, as well as in the steps that were taken for its success. This is something that makes us as IBM very proud, as our technology has once again been tested by a key institution and a region with great potential for growth for IBM OpenPages,” said Pinochet.

“The IBM solution is very good and has a number of elements that give it a high level of robustness and flexibility.  Today it allows us to grow, build relationships and make assessments about almost anything.  Additionally it has Cognos Business Intelligence (BI), which is very powerful. It is very efficient for data analysis, reports, correlations, measurements, evaluations and everything related to reporting to the Board,” says Claudio Herrera, DCV Assistant Manager Operational Risk.

The solution also has a built-in audit module. Therefore, this area, operating completely independently, can review and monitor whatever is needed from the system itself.

 
An important point for the success of the project has been the strong executive support it has received. This is something that is often overlooked but which is quite essential. Senior management of DCV has always had a clear idea of the strategic importance of a comprehensive risk and compliance management and has, therefore, given it their total support.

Risk measurement determines which problem within the Company can be solved, by measuring the impact and by using tools that facilitate the delivery of appropriate information to the organization, which information can add value or allow for making decisions.

“Right now the system is 100% operational. We have the largest incident database of the company for different origins, such as risk problems and measurements. With what we have already implemented we intend to keep on growing throughout 2014 and we have plans for improvement in 2015,” says Claudio Herrera.

 
With respect to the projections in this area, the Assistant Manager Operational Risk said that “between now and the next twelve months we will add new risk dimensions, for instance, the strategic dimension, in addition to a number of initiatives in the regulatory framework and projects. We will also work on the business continuity system, information security, risk assessment of projects and how that adds risk to the company.”

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