Olga Pontes: Compliance is a Daily Practice

Responsible for Compliance at Odebrecht S.A., Olga Pontes represented us during the International Conference on the Foreign Corrupt Practices Act, held in Washington D.C. The newspaper Folha de S. Paulo published an article about it, which we share with you now

“What should you do if your company is either directly or implicated in “Operation Car Wash?” The question, asked in English, was one of the topics from the panel Odebrecht was part of on November 29 in Washington D.C. – the construction company established a plea bargaining agreement with the U.S. Department of Justice (DoJ) and admitted to having paid US$ 1 billion in bribes in 12 countries in what was considered history’s biggest case of corruption.

The company was called in to share lessons about transparency and anti-corruption practices.

“It’s not about teaching others lessons. Compliance [term that designates compliance rules] is a daily practice,” said executive Olga Pontes in her interview with Folha. “But in this quest, certain practices are learned indeed,” she said.

Pontes, responsible for the company’s Compliance area, was the one who represented Odebrecht at the International Conference on the Foreign Corrupt Practices Act, the pioneering U.S. law in the fight against corruption.

She has managed the sector for a year and a half, after the revelations from “Operation Car Wash.”

She created a department to monitor the business conducts of the Group that reports to the Board of Directors, the holding’s highest level of authority.

The initial 20-person team has more than tripled, now with 73 employees. The pace of work is intense: to travel to Washington D.C., the executive opened an exception to her maternity leave and stayed in a hotel neighboring the one hosting the conference because it was US$ 150 less expensive.

Pontes states that she has the independence to investigate whoever she wants. The work is audited by monitors chosen by Brazilian and U.S. authorities, with whom the agreement was established.

“We have reached cruising altitude,” said Pontes. “The only obstacle to overcome is the public’s distrust.”

Interesting Fact

“Car Wash” a commonly-used expression in the event hallways – spoken in Portuguese (“Lava Jato”), and sometimes with an American accent. The panel on which Odebrecht participated, a roundtable about Latin America, involved the participation of another two Brazilians. There were a few more dozen of them out in the audience.

“Six years ago, when I came to the conference for the first time, I was the only Brazilian,” recalls Pontes, who in the past has worked at auditing multinationals and at Braskem, associated with the Odebrecht Group.

The North American capital, which hosted the event, is also the head office of DoJ. Earlier on, the leader of the U.S. department’s anti-corruption sector, Daniel Kahn, commented on the “phenomenal work of Operation Car Wash” in Brazil. He praised companies who were looking to adopt compliance practices, but did not cite any names.

The largest company involved in the investigation, Odebrecht was the most popular recipient of questions on the panel this past Wednesday (November 29).

Some wanted to know how the company rebuilt its relationship with the government. Others were curious to know how the Board came to agree with compliance-related decisions.

“I am grateful, despite this whole stressful and painful process, that Odebrecht can serve as an example for other companies that do not want to make the same mistakes it did,” said Pontes.

According to Pontes, there is now a “zero” tolerance for wrongdoings at the company.

The anonymous reporting system has been improved. Now administrated by an independent company, it has already resulted in dismissals. “People call even to report a dollar missing from a work table,” the executive said.

Pontes wants to ensure that Odebrecht is recognized in the future as a company with ethical, upstanding, and transparent operations – yet again, a goal received with distrust.

The construction company is selling a portion of its assets to pay its fines with the Department of Justice, which total R$ 8.5 billion. The number of employees dropped from 200,000 to 80,000.

The company already has another two invitations to international lectures. However, it remains under inspection: the monitoring imposed by the authorities as part of the plea bargaining agreement only ends two years from now.