Search

The Bank Corporate Governance
Main Committees of the Board of Directors

The Bank Corporate Governance
Main Committees of the Board of Directors

  • Audit Committee

    The Audit Committee is composed of non-executive members of the Board of Directors. It is appointed by the General Assembly. The operation of the Committee is governed by the Bank of Greece Governor’s Act 2577/2006 and article 44 of Law 4449/2017.

    The Audit Committee has a three-year term of office, similarly to the Board of Directors’.

    Composition of the Audit Committee:

    Chairperson

    Iordanis Chatzikonstantinou

    Members

    Antonios Vassilakis

    Georgios Kaloutsakis

    Main responsibilities

    • Monitoring and conducting annual evaluation of the adequacy and effectiveness of the Internal Audit System.
    • Supervising and evaluating the procedures followed during the preparation of published annual and periodic financial statements, in accordance with the accounting standards in force.
    • Submitting proposals to address identified weaknesses and monitoring the implementation of measures adopted by the BoD.
    • Submitting proposals in special areas where additional audits by the internal or by external auditors are required.
    • Evaluating the work of the Internal Audit Unit with a focus on issues pertaining to the degree of its independence, the quality and scope of the audits it performs, the priorities determined by changes in the economic environment, the systems and level of risk, and, in general, the effectiveness of its operation.
  • Remuneration Committee

    The Remuneration Committee is composed of non-executive members of the Board of Directors; it is appointed by the BoD and is made up of 3 of its members.

    The Remuneration Committee has a three-year term of office, similarly to the Board of Directors’.

    Composition of the Remuneration Committee

    Chairperson

    Konstantinos Papadakis

    Members

    Antonios Vassilakis

    Main responsibilities:

    • Drafting resolutions on remunerations to be adopted by the BoD that have an impact on the risks assumed and their management by the Bank.
    • Proposing corrective measures when the remuneration policy is impossible to implement.
    • Providing information, advice and support to the non-executive members of the BoD in shaping, reviewing and supervising remuneration policy implementation.
    • Ensuring that all types of risks are taken into account when evaluating adopted mechanisms to align remuneration policy with the risks.
    • Submitting proposals to the BoD concerning the remuneration of senior Bank Management executives and highest paid officials.
    • Supervising directly the remuneration of the heads of Risk Management, Regulatory Compliance, and Internal Audit Units.
    • Evaluating the periodical reports submitted at least once a year by the Internal Audit Unit, as well as its suggestions for potential review of the remuneration policy applied with a view to preventing the creation of incentives for assuming excessive risks or adopting other behaviours that are incompatible with the Bank’s objectives.
    • Ensuring the advisory contribution of the competent Units of the Bank (Risk Management, Regulatory Compliance, Internal Audit, Personnel Management, Strategic Planning) in shaping, reviewing and applying the remuneration policy consistently, as well as the contribution of external experts, when deemed necessary by the BoD.
  • Risk Management Committee

    The Risk Management Committee is appointed by the Board of Directors and is composed of non-executive members of the BoD. Its operation is governed by the Bank of Greece Governor’s Act 2577/2006.

    The Risk Management Committee has a similar to the Board of Directors’ term of office (three-years).

    Composition of the Risk Management Committee

    Chairperson

    Antonios Vassilakis

    Members

    Georgios Kaloutsakis

    Iordanis Chatzikonstantinou

    Konstantinos Papadakis

    Main responsibilities:

    • The mission of the Committee is to ensure that the Bank has a well-defined risk management strategy, that all types of risks related to the Bank’s activity are effectively covered, and that the risk appetite levels are clearly communicated to the entire Bank.
  • Strategic Planning Committee

    It is appointed by the Board of Directors and is composed of members of the BoD (executive and non-executive) and senior Management Executives. The Strategic Planning Committee meets on a quarterly basis or extraordinarily whenever deemed necessary by its Chairman.

    Composition of the Strategic Planning Committee

    Chairperson

    Iosif Sifakis

    Members

    Georgios Kourletakis

    Georgios Kaloutsakis

    Chrysanthi Papadopoulou

    Fotios Kitsos

    Main responsibilities:

    • The mission of the Committee is to determine the objectives of the Bank’s Strategic Plan.
    • as well as to monitor, analyse and bring to the attention of the BoD matters pertaining to strategic options, while recognising potential risks in the implementation of the approved Strategic Plan.
    • submitting proposals to deal with such risks to the BoD.
  • Legal Council

    The Legal Council was established by virtue of a resolution of the BoD to provide opinions and support on specialized legal issues. It reports to the Chairperson of the Board of Directors.

    Composition of the Legal Council

    Chairperson

    Konstantinos Papadakis

    Members

    Iraklis Markantonakis

    Georgios Pertsinakis

    Eirini Lempidaki

    Anna Gova

    Main responsibilities:

    • Providing legal support to the Bank’s Legal Affairs Department.
    • Formulating opinions on contentious legal issues and on issues of general legal interest, brought up by the Management and the Legal Affairs Department.