Annual Report - EDP

: corporate governance :On 22 February 2012, the Executive Boardof Directors decided to amend the CorporateCentre structure, comprising the followingchanges: i) the elimination of the corporate centredepartment Customer Relations Department;ii) restructuring and renaming of CorporateMarketing Department, which was renamed toCustomer and Marketing Department; iii) creationof Institutional Relations and StakeholdersManagement Department; and iv) establishmentof the Coordination Area of the Global Brand andCommunication.The departments currently existing andrespective competences is as follows:The General Secretariat and Legal Departmentperforms administrative functions and giveslogistical support to the Executive Board ofDirectors and provides legal advice to the EDPGroup companies based in Portugal, in order toensure the efficient operation of the CorporateCentre and compliance with applicable legislation,as well as ensure harmonisation of the corporategovernance policies in the Group.The Office of the Chairman of the ExecutiveBoard of Directors supports the Chairman ofthe Executive Board of Directors in all mattersdefined within its remit, with the aimof contributing to maximising the effectivenessof the decisions and guidelines established.The main mission of the Internal AuditDepartment is to conduct internal audits orensure they are undertaken in the Group andalso guarantee the Internal Control System forFinancial Reporting (“SCIRF”) in the Group, inorder to independently assess this system andpropose and promote the implementation ofmeasures aimed at adding to its effectivenessby improving and aligning processes and systems.The mission of the Office of the EthicsOmbudsman is to perform the role associated withethics processes or ensure they are conductedin the Group, with the aim of maintaining theconditions of confidentiality and protection ofrights associated with these processes.The mission of the Energy Planning Departmentis to coordinate the studies to support thedevelopment strategy of the Group’s energyportfolio, with the aim of supporting the ExecutiveBoard of Directors in building an integrated viewof the energy portfolio and contributing to theplanning of its development in the various regionswhere EDP operates.The Business Analysis Department’s mission is tocoordinate studies to support the overall businessstrategy of the Group and implement developmentoperations via investments, divestments and/orthe establishment of partnerships, with the aimof supporting the Executive Board of Directorsin optimising the business portfolio and to fosterand implement new business opportunities.The Risk Management Department coordinatesstudies to assess the Group’s risk, in order tosupport the Executive Board of Directors inmonitoring and mitigating risk and to supplyintegrated analyses of return-risk.The Regulation and Competition Departmentstudies and implements regulatory strategy forthe business in the MIBEL and coordinates energyregulation and competition projects for theGroup, with the aim of supporting the ExecutiveBoard of Directors in decision making andensuring regulatory compliance by the companiesencompassed.The Sustainability Department’s mission is toanalyse, propose and ensure the sustainabilitystrategy of the Group, with the aim of supporting108the Executive Board of Directors in setting therelevant policies and objectives and to encourageits operational implementation in the Business Units.The Financial Management Department’smission is to propose and ensure the Group’sfinancial policy, implement the Group’s financialmanagement and analyse and monitor the pensionfund’s management, in order to optimise andensure financial sustainability and control financialliabilities in accordance with the Group’s policy.The Consolidation, IFRS Reporting and TaxationDepartment ensures the reporting of IFRSaccounts of the Group, in order to ensurecompliance with the defined deadlines andappropriate and consistent accounting and taxprocessing of operations in all Group companies.The mission of the Management Planning andControl Department is to ensure the managementplanning and control of the Group, to ensurealignment with the strategic objectives andcontrol the execution of the business plan.The mission of the Investor Relations Departmentis to ensure communication with analysts andinvestors in Group companies, with the aimof ensuring the sustainability of EDP’s imageand reputation, and to answer the informationrequirements of regulators and financialsupervisors.The Organisational Development Departmentanalyses, proposes and coordinates thedevelopment of the organisation, andensures group-wide programmes of strategyimplementation, with the aim of increasing thecompetitiveness of EDP’s organisation andoperations.The mission of the Information SystemsDepartment is to manage the Group’s informationand communication systems on the IberianPeninsula, and analyse and propose the ITstrategy for the Group, with the aim of aligning ITwith the Business Units’ strategy and to createvalue by providing solutions that foster efficiency,effectiveness and innovation of EDP’s processes.The Human Resources Department analysesand proposes the human resources strategyof the Group and ensures group-wide supportprocesses, with the aim of contributing tothe implementation of the business strategy,promoting the enhancement and developmentof all employees and developing a culture alignedwith the corporate values.The Labour Relations Coordination Office has themission of managing matters related to labourrelations and coordinating studies of labourmarket regulations in Portugal, with the aim ofachieving negotiated solutions in line with thebusiness objectives and ensuring internal rulesare in harmony with labour law.The EDP University ensures the provision,retention and sharing of knowledge within theGroup, with the aim of strengthening a commonculture, promoting the professional developmentof employees and facilitating the emergence of newtalent and the full use of employees’ potential.The mission of the Brand and CommunicationDepartment is to analyse, propose, ensure andimplement the Group’s communication strategywith the aim of maximising brand value andfurthering internal communication.The mission of the Customer and MarketingDepartment is to analyse, propose and control themarketing strategy of the commercial businesson the Iberian Peninsula, with the aim of buildinga competitive market positioning and contributeto maximising the commercial results of theBusiness Units encompassed.A World Full Of Energy