Intrabank committees

The main duties of the committees 

Duties of the Risk Management Committee

1. Provide recommendations to the Supervisory Board regarding the bank's current and future risk appetite for aggregate and individual types of risks.
2. Monitor the existence of procedures that ensure the bank’s activities are in line with its risk management policies.
3. Oversee the alignment of the bank's objectives for capital and liquidity management, as well as all specific risks, including credit, market, operational, reputational, and other risks, with the bank's risk appetite.
4. Select the appropriate methods and tools for identifying and assessing risks, and determine the frequency of their implementation.
5. Analyze the results obtained from the implementation of the adopted methods and models, and provide relevant instructions to the bank’s responsible risk management department on risk acceptance, minimization, transfer, and mitigation measures to effectively manage risks.
6. Prepare a report on the status of the risks faced by the bank and the effectiveness of the risk management system, and present it to the Supervisory Board.
7. Prepare proposals for the Supervisory Board regarding the improvement of the risk management system.

Duties of the Corporate Governance Committee

1. Monitor the compliance of the bank's organizational and management structure with legal requirements, inform the Supervisory Board about identified non-compliance and their causes, and provide recommendations for their elimination, improvements in corporate governance, and the implementation of legislative changes.
2. Ensure the timely and accurate disclosure of information related to the bank's corporate governance to the public.
3. Prepare the bank’s remuneration policy, present it to the Supervisory Board for approval, and take actions to regularly improve it.
4. Review the impact of internal and external events on the bank’s remuneration policy and process.
5. Determine the remuneration of the corporate secretary.
6. Provide recommendations and feedback on new and potential candidates for membership in the Supervisory Board, its committees, and the Board of Directors.
7. Supervise the process of forming the staff pool for the Supervisory Board, its committees, and the Board of Directors.
8. Present reports to the bank’s Supervisory Board in accordance with the procedures established by law.

Duties of the Audit Committee

1. Ensure the issuance of audit certificates to auditors (audit group) who will conduct internal audit checks and monitoring.
2. Provide recommendations to the Supervisory Board regarding the hiring of the department's director and employees, their salary amounts, promotions, dismissals, or removals, as well as their rewards and disciplinary actions.
3. Provide proposals and recommendations to the General Meeting of Shareholders and the Supervisory Board regarding the results of internal audit checks, the elimination of deficiencies identified in the audits, and the improvement of internal control systems.
4. Review the recommendations provided by external and internal auditors, as well as other regulatory and supervisory bodies, regarding the effectiveness of the bank's internal control and risk management systems, provide feedback on the action plan prepared for the implementation of these recommendations, and obtain necessary information from the Board of Directors to monitor its execution.
5. Require the external auditor to immediately provide the Committee with information about significant deficiencies, facts, and events identified during the audit.

Duties of the Strategy Committee

1. Evaluate the drafts of the bank’s strategic vision and mission statement prepared by the Board of Directors.
2. Review the priority directions of the bank’s development strategy and submit them for approval by the Supervisory Board.
3. Monitor the alignment of the risks taken with the bank’s strategy.
4. Prepare proposals for the Supervisory Board regarding the improvement of the strategy.
5. Report to the Supervisory Board on the results of the committee meetings in accordance with the procedures established by law.
6. Evaluate the overall strategy of the bank at least once a year (or immediately, if necessary).
7. Monitor the alignment of the bank’s operational results with the approved strategy.
8. Perform other duties arising from legislation and internal bank legal acts.

Duties of the Credit Committee

1. Review the bank’s credit policy and submit it for approval by the Supervisory Board.
2. Approve the granting of loans, the assumption of credit obligations, as well as any changes to their terms and restructurings.
3. Monitor the timely repayment of loans at the portfolio level.
4. Ensure that loan terms comply with the regulations of the Central Bank and the Financial Market Supervisory Authority.
5. Monitor the diversification of the credit portfolio to prevent concentration risk.
6. Periodically receive reports on the monitoring of the credit portfolio.
7. Ensure compliance with the authorities and procedures for granting loans.
8. Oversee the implementation of all measures taken to ensure the repayment of loans.

Duties of the Assets and Liabilities Management Committee

1. Make decisions on market and currency limits based on the recommendations of the Strategy and Risk Management Committee, within the limit set by the Supervisory Board.
2. Ensure compliance with the legislation regarding the relevant direction and objectives for managing risks within the committee's authority or delegated to it.
3. Regularly monitor the bank’s cash and non-cash liquidity status and approve relevant limits in this regard.
4. Make decisions to manage risks related to interest-sensitive assets and liabilities.
5. Present the legally required information to the Supervisory Board for discussion.

Duties of the Information Technology Committee

1. Develop the priority areas of the IT development strategy arising from the bank’s strategy and submit them to the relevant management body for review and feedback.
2. Review any potential obstacles to the implementation of strategic projects that ensure the achievement of IT-based strategic goals arising from the bank’s strategy and instruct the relevant departments to eliminate them.
3. Review situations that could disrupt the continuity of the bank’s IT activities and instruct the departments responsible for IT continuity to ensure its maintenance.
4. Oversee the appropriate and efficient use of the bank’s IT assets in accordance with internal regulations and best practices.
5. Ensure the security of the bank’s information systems in line with internal regulations and best practices.
6. Monitor activities with external parties (counterparties) that may affect the confidentiality, integrity, and accessibility of the bank’s information.
7. Review high-risk IT incidents according to internal regulations and instruct relevant IT departments to take preventive measures against such incidents.
8. Review the IT budget of the bank and the budgets for IT activities within the bank before its approval in accordance with internal regulations and provide comments (if any).
9. Review issues related to the purchase of software, equipment, and other devices necessary for ensuring the continuity of the bank’s IT operations before procurement and provide relevant opinions.
10. Organize periodic reviews and reassessments of IT investments.
11. Evaluate and provide feedback on the efficiency of IT-based costs that ensure information security risk reduction, the implementation of new technologies, and the continuity of IT operations.
12. Instruct relevant IT departments to apply new technologies and modern trends within the bank.
13. Act as an observer and advisor in the creation of IT projects initiated by the IT departments of the bank.
14. Review and provide feedback on key performance indicators, objectives, and key results in the "Agile" environment of IT departments.
15. Ensure the preparation of necessary regulatory documents, procedures, and operational plans for both routine and emergency situations in the IT sector.
16. Discuss findings from IT and information security audits conducted by internal and external auditors and make relevant decisions to address them.
17. Fulfill other duties specified by legislation and internal bank regulations.