Financial Bank - Corporate governance

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The Group | Corporate governance |

Operating Principles

In organisational terms, the FINANCIAL Group aims to comply with good practice and international standards. Good governance is one of the key differentiators of economic performance and maintaining trust, because it ensures that risks are monitored more effectively and interests balanced satisfactorily.

The aim of our organisational structure is to define transparent lines of responsibility within our institutions to ensure that our employees, as well as our Boards of Directors and General Management teams are responsible for their actions, and to avoid conflicts of interest.

Internal control and Audit charter

Within the framework of the recommendations of the Basel Committee and the regulations on Internal Control and Audit issued by the Banking Commissions, the FINANCIAL Group has put in place a uniform charter designed to respond to the requirements for modern, efficient control that meets the needs of the profession.

A system of delegation of powers for granting loans and committing to expenditure establishes the levels of responsibility of General Management and the Board of Directors.

Board of Directors

All the banks have a Board of Directors. The Boards are made up of a balance of independent and executive directors, and meet several times during the course of each financial year.

Directors are appointed for a period of one year, and are eligible to stand for re-election.

The regulatory provisions relating to regulated agreements are strictly enforced.

Management

General Management teams, which are subject to an accreditation procedure by the regulatory authorities, carry out their duties under the control of the Board of Directors, to which they submit periodic reports on their actions and their consequences. Their responsibilities are as follows:

To implement the strategies and policies approved by the Board;
To develop processes that make it possible to identify, measure, monitor and control the risks incurred by the bank;
To maintain an organisational structure that clearly sets out relationships in terms of reporting, authority and responsibility;
To ensure that responsibilities that have been delegated are being exercised in practice;
To put in place appropriate internal control policies;
To monitor the internal control system in terms of its appropriateness and efficiency.

Staff

Staff are encouraged to alert the management team, Board members or shareholders to any anomaly that becomes apparent, particularly in terms of ethics, without any risk of reprisals or sanction.