Intrabank committees

The main duties of the committees 

Duties of the Strategy and Risk Management Committee

1. Evaluate the draft Strategic Vision and Mission Statement of the Bank prepared by the Management Board;
2. Develop and submit for approval to the Supervisory Board the priorities of the Bank's development strategy;
3. Monitor the compliance of the Bank's performance results with the Strategic Plan and, if necessary, make recommendations to the Management Board on this matter;
4. Monitor the achievement of the Bank's strategic goals and objectives;
5. Review and submit for approval to the Supervisory Board the risk management strategy, policy and rules;
6. Consider risk limits for discussion by the Supervisory Board and submit them for approval to the Supervisory Board;
7. Monitor the compliance of risks with the Bank's risk management strategy;
8. Select appropriate methods and tools for risk identification and assessment and determine the frequency of their implementation;
9. Analyze the results obtained as a result of applying the adopted methods and models, give relevant instructions to the Risk Management Department on the implementation of measures such as acceptance, minimization, transfer of risks, as well as risks avoidance for effective risk management.

Duties of the Rewards Committee

1. Prepare and submit to the Supervisory Board for approval the Bank's reward policy, as well as take measures for its continuous improvement;
2. Principles of reward policy in accordance with Bank's risk management policy and long-term results, aimed at achieving strategic goals, not serving short-term income of the Bank by taking long-term risks, as well as the non-remuneration of Bank employees and management, ensures compliance with the absent principles;
3. Exercise general control over the rewarding process;
4. Evaluate the effectiveness of the incentive system together with the Strategy and Risk Management Committee at least once a year;
5. Submit proposals to the Supervisory Board on the total amount of the bonus;
6. Submit a report to the Supervisory Board in accordance with the legislation.

Duties of the Information Technology Committee

1. Develop initiatives in the field of IT and IT security, submit them for consideration by the Supervisory Board on the basis of the Bank's Strategy and if necessary, submit to the Supervisory Board proposals for revising these initiatives;
2. Monitor the execution of the budget in the field of IT after the approval of the Bank's budget;
3. Ensure flawless, uninterrupted operation and monitoring of all automated systems of the Bank;
4. Ensure the development of all relevant information technology regulations, current and emergency procedures and operational plans;
5. Ensure the development of a "Contingency Plan" for the creation of adequate backup copies (backup samples) of the data of the accounting and management information system;
6. Control the provision of relevant trainings to ensure the availability of high-level technological competence and standards among bank employees;
7. Control security and administrative technology issues related to IT projects and procedures.

Duties of the Credit Committee

1. Review the relevant credit policy of the Bank and submit it to the Supervisory Board for approval;
2. Approve the issuance of loans and the acceptance of credit obligations, as well as the change and restructuring of their terms;
3. Monitor the timely repayment of loans at the portfolio level;
4. Ensure that loan terms do not contradict the rules of the Central Bank and the Chamber of Control over Financial Markets;
5. Monitor compliance with the loan portfolio diversification in order to prevent the risk of portfolio consolidation;
6. Receive relevant reports on periodic loan portfolio monitoring;
7. Ensure compliance with the authorization and procedures for granting loans;
8. Monitor the implementation of all measures taken to repay loans.

Duties of the Audit Committee

1. Ensure the issuance of audit certificates to auditors (audit team) who will conduct internal audit inspections and monitoring;
2. Submit proposals to the Supervisory Board on the recruitment, promotion, dismissal of the Director and employees of the Internal Audit Department, as well as their remuneration and disciplinary action;
3. Submit proposals and recommendations to the General Meeting of Shareholders and the Supervisory Board based on the results of internal audits and the elimination of deficiencies identified as a result of audits, as well as improvement of internal control systems;
4. Require the external auditor to immediately provide the Audit Committee with information about significant deficiencies, facts and events identified during the audit;
5. Ensure timely and complete submission to the external auditor of all important information, as well as bank documents on the Bank's activities related to the organization of joint work with the external auditor.