Committees

We have six committees reporting directly to the Board of Directors and have an important role in our corporate governance structure:

Audit Committee – It is a permanent statutory body consisting of at least 3 members, with a fixed term of office of 5 years, elected by the Board of Directors, which is also responsible for appointing the president of the committee as well as the expert member. The Committee holds monthly meetings and the duties and responsibilities are defined in the bylaws and the audit committee’s internal regulations and include ensuring the quality, integrity and independence of accounting practices and ensuring compliance with applicable laws and regulations.

For more information about the Committee, click here.

Remuneration, People and Culture Committee – It is a permanent statutory body with duties and responsibilities foreseen in the legislation, currently composed of 7 members, elected and dismissible by the Board of Directors, with a term of office of 3 years, one of them being elected the Coordinator which will necessarily be a member of the Board of Directors. The Committee holds bimonthly meetings and the duties and responsibilities are established by the applicable legislation, the Bank’s bylaws and the Committee’s internal regulations. The Committee’s main objectives are to prepare and supervise the compensation policy for the managers and to propose the amount of the overall compensation for the management.

Risk and Capital Management Committee – It is a non-statutory advisory body to the Board of Directors. The Committee is currently composed of 10 voting members, with a term of office of 2 years and monthly meetings. The main duties and responsibilities of this Committee, as set forth in its internal regulations, are to promote discussions and decisions on issues related to policies, procedures, methodologies and processes related to integrated risk and capital management and the Capital Plan of the Bank.

Strategy & Innovation Committee – It is a non-statutory advisory body to the Board of Directors. The Committee is currently composed of 12 voting members, with a term of office of 2 years and monthly meetings. The main duties and responsibilities of this Committee, as set forth in its internal regulations, are to define the Bank’s main long-term strategic courses, to monitor the Bank’s adherence to the strategic goals and to evaluate investment/M&A recommendations that are presented by the executive officers.

ESG Committee – This is a non-statutory advisory body to the Board of Directors. The Committee is currently composed of 9 voting members, with a term of office of 2 years and quarterly meetings. The main duties and responsibilities of this committee, as set forth in its internal regulations, are to supervise the work of the secretariat and the operation of the leadership forums; ensure compliance with good governance practices in matters of high relevance; recurrently assess the appropriateness of the organizational structure to the organization’s objectives; discuss projects, present trends, build partnerships and discuss the Bank’s progress on the ESG agenda; and monitor the achievement of the ESG objectives set by the Bank.

Technology and Operations Committee – This is a non-statutory advisory body to the Board of Directors. The Committee is currently composed of 7 voting members, with a term of office of 2 years and monthly meetings. The main duties and responsibilities of this committee, as set forth in its internal regulations, are to support the Technology and Operations area for the execution of the strategy; prioritize projects; evaluate architecture and infrastructure; track performance indicators and manage risks and mitigate biases in order to avoid them.