Pronciples and policies of Compliance and Corporate Governance Directorate.
The object of Compliance and Corporate Governance is to prevent and effectively manage the risks of non-compliance of the Bank and of the Group’s companies with the current regulatory framework which governs their operation, by establishing appropriate policies and procedures and adopting mechanisms for recognizing, controlling and monitoring the pertinent risks. Additionally, it must also monitor and ensure that it preserves the principles and practices, on which the Bank is organized, managed and operated, so as to safeguard and preserve the legitimate interests of all those associated with the Bank.
The Compliance and Corporate Governance Directorate was formed within the framework of implementing the regulations of the BASEL supervisory framework (as applicable) and the provisions of Bank of Greece Governor's Act 2577/2006, and is responsible for managing the risk from the non-compliance of the Bank and the Group companies with everything set by the applicable regulatory framework. Organizationally, it comes under the CEO, it drafts reports to the Audit Committee and the Board of Directors regarding topics that come under its responsibilities and is subject to control from the Internal Audit Unit as to the efficiency and effectiveness of its procedures. As an administratively independent unit, it has uninterrupted access to all data and information necessary for the execution of its duties and is managed by a selected person (Head of Compliance) who is proficient in banking and investment activities.
Responsibilities of Compliance and Corporate Governance
The prevention and effective management of the risks of non-compliance of the Bank and the Group’s companies with the current regulatory framework which governs their operation, by establishing appropriate policies and procedures and adopting mechanisms for recognizing, controlling and monitoring the pertinent risks.
Its responsibilities include receiving, examining and settling the complaints and indictments of clients and transactors towards the Bank, seeing to the just and objective examination and the timely written reply, based on data and opinions which it receives from the competent Units or Services. In specific, among others, the Directorate:
- Checks the compliance of the Bank and the Attica Bank Group with the applicable regulatory framework, which regulates the prevention of using the financial and credit system, money laundering and funding of terrorism. As to this, it is responsible for checking the compliance of the Bank’s organizational units with the obligations stemming from the aforementioned framework, as well as from the Group’s Compliance Policy which has been established by the Bank, and it structures the appropriate environment for the timely detection, deterrence, investigation and reporting of similar attempts.
- Makes proposals to the Management, through the Directorate, about topics regarding drawing up and implementing the Bank’s and Group’s policy in the field of compliance, taking into consideration the institutional framework about Corporate Governance and the supervision of the financial and credit institution.
- Submits an annual report on compliance issues to the Bank of Greece, as to the institutional framework.
- Keeps a full archive of outsourcing agreements and submits it to the Bank of Greece, in accordance with the applicable Attica Bank Outsourcing Policy and the regulatory framework (Bank of Greece Governor's Act 2597/2007 and Decision 2/452/1-11-2007 of the Capital Market Committee), quarterly reports (on a unified basis) of the valid agreements and the Outsourcing Services provisions catalogue.
- Sees, through the proper procedures, to the adherence to the deadlines for the fulfillment of the obligations provided by the regulatory framework in force and provides a relevant statement to the Board of Directors.
- Ensures the full cooperation of the currently controlled Units with those authorized by the Supervisory Authorities and collaborates itself when required.
- Establishes and applies appropriate procedures and assists the Directorate in drafting an annual programme in order to achieve in a timely manner the full and continuous compliance of the Bank and the Group's companies with the applicable legislative regulatory framework, the Articles of Association and its Internal Operation Regulation, as well as and in preparing an Account of the activity for the previous year, submitted to the Management and the Board of Directors, through the Audit Committee, by the end of the first calendar half-year.
- Monitors, through benchmarks, the compliance of the Bank's and Company's separate Units with the applicable regulatory framework, the Regulations and the Directives of the Managing Authorities as well as the Regulations, Codes and Policies of the Bank and the Group’s companies.
- Ensures the timely and ongoing information of the Bank and the Group employees on developments in the legislative regulatory framework regarding their responsibilities, through the establishment of appropriate procedures and training programs.
- Revises the Compliance Manual and the Internal Operation Regulation of the Directorate.
The Bank has adopted and implements, among others, the following policies:
- Customer Complaint Management Policy.
- Policy to Prevent Money Laundering and Funding of Terrorism.
- Regulatory Compliance Policy.
- Data Protection Policy
Please download the respective files.
- AML Statement
- AML- Wolfsberg AML Questionnaire
- Certification regarding correspondent accounts for foreign banks
- W-8BEN-E Certificate
- Foreign Account Tax Compliance Act – “FATCA”
- Information of the intergovernmental agreement between Greece and USA on the application of FATCA
- Form W8BEN
- FORM W9
- Announcement (CRS-OECD)
- Controlling person tax residency form (CRS-CP)
- Entity tax residency Self-Certification form (CRS-E)
- Individual tax residency Self-Certification form (CRS-I)
Corporate Governance is a system of principles and practices based on which the Bank is organized, operated and governed, so as to preserve and satisfy the legitimate interests of all those associated with it.
Attica Bank applies principles of corporate governance, pursuing to attain transparency in communication with its Shareholders, Executives, Employees, Partners, Contractors and Suppliers, and providing immediate and continuous information to the investing public. By striving to respond consistently to the expectations of the Customers and the State, Attica Bank implements the regulatory framework regarding the financial sector and in particular those things that apply to the fight against corruption.
In the context of effective Corporate Governance, the Bank has separated the duties of the Chairman from those of the CEO and applies an integrated internal audit system to the Group in accordance with international standards and the current regulatory framework.
The Board of Directors has established, among others, the following:
- A Corporate Governance Code, which sets out the basic principles of Corporate Governance adopted by the Group as well as the principles and procedures governing the operation of the Bank's bodies responsible for monitoring the implementation of the Corporate Governance principles.
- A Code of Ethical Behavior and Business Ethics, the General Principles of which are based on the principles of Corporate Governance and which establish the values of integrity, impartiality, entrepreneurship, professionalism, transparency, social and environmental responsibility, respect for human rights, immediate and positive response, teamwork and compliance responsibility.
- Attica Bank's Remuneration Policy, the ultimate responsibility for the efficiency of which belongs to the Board of Directors of the Bank. In order to fulfill its duties, the Board of Directors adopts the above Policy, which is binding for its Members, the Management, the Bank's and the Subsidiaries’ Executives and all the Group's staff as well as the current external consultants and experts.
- A Borrowers Policy for Related Parties and Connected Borrowers. This policy records the rules applied by the Bank for the “Related Parties” (borrowers with a special relationship) and the "Connected Borrowers" with the Bank, as stipulated in the Regulatory (Legislative, Normative, Supervisory) Framework and in particular in Bank of Greece Governor's Act 2651/2012, as applicable. In particular, it analytically records the definition of Related Parties and Connected Borrowers, the process of identifying them, the evaluation criteria, the approval process as well as the framework for monitoring their credit.
- Conflict of Interest Prevention Policy for the members of the Board of Directors and its Chief Executives. This policy determines the way to conduct the control and management of actual or potential conflicts of interest between the Bank, the members of the Board of Directors and senior executives as defined in the current regulatory framework. The Compliance and Corporate Governance Directorate has the obligation to communicate the policy to the members of the Boards of Directors of all the subsidiaries of the bank.
Please download the respective files in pdf format
Board of Directors CVs
1. Ioannis Zographakis, son of Georgios, Independent Non-Executive Member
The chairman of Attica Bank, Ioannis Zographakis, has been a member of the Board of Directors of the Bank of Cyprus since September 2013. He has been Senior Independent Consultant to the Administration since February 2019 and President of the Risk Management Committee since May 2020. He has also been President of the Ethics Committee since November 2019, a member of the Audit Committee and a member of the Technology Committee. From September 2013 until March 2021, he served as Chairman of the Audit Committee.
Ioannis Zographakis has extensive international experience in the banking sector as a senior manager. He started his career in 1990 at Citibank in Greece as Management Associate for Europe, Middle East and Africa region. In 1996 he served as Director of Finance of CitiMortgage, and in 1997 he became Financial Officer of Citigroup Consumer Finance, assuming later the position of Chief Financial Officer (CFO) for the Consumer Assets Division of America. From 1998 until 2004, he worked at the Student Loan Corporation, a subsidiary of Citigroup. In 2005 he returned to Europe as Head of Consumer and Housing Credit for Europe, Middle East and Africa region of Citibank, as well as Head of Uk Retail Banking. From 2006 until 2011, he assumed the position of General Manager of Retail Banking at Citibank Greece, where he remained until 2011. He has been a member of the Board of Directors of the Student Loan Corporation in America, Tiresias SA in Greece, Diners Club Greece and the National Bank of Greece. Mr Zographakis studied civil engineering (BSc) at the Imperial College of London, and his postgraduate studies are in Business Administration (MBA) at the Carnegie Mellon University in America.
2. Avraam (Minos) Moissis, son of Esdra, Vice Chairman of the BoD, Non-Executive Member, representative of the Hellenic Financial Stability Fund
Avram-Minos Moissis is the Vice Chairman of the BoD of Attica Bank as a representative of the Hellenic Financial Stability Fund. He has a long track record in the management of financial services as CEO of Interamerican Group and Ethniki Insurance, General Manager of Retail Banking of National Bank and Emporiki Bank, Chairman of the BoD of the Single Liquidator PQH and member of the Supervisory Board of the Hellenic Corporation of Assets and Participations. He is a founding partner of the advisory firm SYNERGON Partners and Chairman of the BoD of the factoring company Flexfin. A qualified actuary with a degree in mathematics from University of Athens and a postgraduate degree in actuarial science from Heriot Watt University in Great Britain.
3. Eleni Vrettou, daughter of Christos, CEO, Executive Member
Eleni Vrettou has more than 20 years of international experience in Banks in Greece and abroad, specializing in the fields of corporate and investment banking.
Ms. Vrettou held the position of Executive General Manager, Chief of Corporate and Investment Banking at Piraeus Bank Group, while previously she had worked for 14 years at HSBC Bank Plc in Greece and United Kingodm. Her most recent position at HSBC was that of Managing Director and Head of Wholesale Banking Greece, while previously she was Head of Multinationals and Business Development of HSBC for the CEE, CIS, Mediterranean and SubSaharan Africa regions. Most recently she held the position of Chief Strategy and Investor Relations Officer at Lamda Development.
She has significant experience in corporate transformations and the management of Non-Performing Exposures, as well as in the systematic development of ancillary business in investment and transaction banking and Development Programs. Prior to HSBC, she had worked for Greek and international Financial Institutions, in Athens and New York, in the fields of Credit and Risk and Investment Banking (M&A). Between the years 2019 and 2021, she served as Chairman of the Board of Directors of Piraeus Factors S.A, Piraeus Leasing and Piraeus Leases, as well as a member of the Board of Directors of ETVA VIPE. She currently is an independent non-executive member of the Board of Directors of Star Bulk Carriers Corp, as well as an independent non-executive member of the Board of Directors of MOTODYNAMICS S.A. Ms. Vrettou holds a Bachelor of Science in Economics from the Wharton School of the University of Pennsylvania.
4. Vasiliki (Valerie) Skoubas, daughter of Christos, Executive Member
Mrs. Skoubas has over 30 years’ experience in the Banking Industry and has managed through growth periods, stress periods and volatile ones in the Foreign Banks in Greece. She was appointed as CFO on January of 2023 at Attica Bank following her joining April 2022 as advisor to the CEO.
Her previous experience was with HSBC for 7 years and with Citi for 25 years. For the last 7 years at Citi she held the CFO position for the Greek business and prior to this held various positions ( Chief of Staff, Consumer CFO and Consumer Cluster CFO for Egypt, UAE, Greece and Bahrain.
She also was a member of the Board of Directors of Diners Club of Greece and the Pension Investment Committee while also being an Executive member of the Bank since 2009.During her time at HSBC Mrs. Skoubas was the CFO of the Greek entity as well as the oversite Director for the French branches of the Group and for the last year worked as a Project Director for the Group M&A team. Mrs. Skoubas holds a Bachelors Degree in Accounting from Saint John’s University in New York and has also received extensive professional training during her career at Citi and HSBC.
She recently completed the Diploma in Corporate Governance for NEDs from the Corporate Governance Institute.
5. Efthymios Kyriakopoulos, son of Peter, Independent Non-Executive Member
Thymios Kyriakopoulos is a senior executive with international experience and expertise in banking, portfolio management, corporate transformations and risk management.
He currently serves as a member of the Board of Directors of HCAP (Greek Sovereign Wealth fund), is the chairman of the investment committee, and has served as chairman of the risk management committee, member of the audit committee, and member of the nomination committee. He also currently sits on the board of directors of a London Stock Exchange listed FTSE 250 emerging market bank focused on Central Asia named TBC Bank PLC. He serves as chairman of the risk management committee, member of the audit committee and member of the technology and data committee.
He has served as Executive General Manager and Group Chief Risk Officer at Piraeus Bank. Prior to that, he was Managing Director in the fixed income, currencies and commodities trading division at Goldman Sachs. He has held various board positions in financial services and corporates. Throughout his career, he has been involved in securities, early stage and real estate investing. He was part of the founding team of Market Axess Inc., a NASDAQ-listed fintech firm, and prior to that worked at Deutsche Bank and PriceWaterhouse Coopers.
He holds an MBA with distinction from the Wharton School of the University of Pennsylvania, and a Bachelor's degree in Mechanical and Aerospace Engineering from Cornell University.
6.Riccardo Lambiris, son of Konstantinos, Non-Executive Member
Riccardo is as seasoned senior banker having worked in numerous institutions under many capacities including Telesis, EFG Eurobank and HSBC Bank plc. More recently he served as Chairman and Chief Executive Officer of the Hellenic Republic Asset Development Fund. He is currently Chairman of the Athens International Airport. He has a BEng in Electronic Engineering (University of Sussex), an MSc. In Engineering Project Management (University of Birmingham) and an MSc. In Trade, Transport and Finance (City University).
7.Maria Ioanna Politopoulou, daughter of Georgios, Non-Executive Member
Marianna Politopoulou holds an MBA in Finance from the Wharton School – University of Pennsylvania and an MSc in Civil Engineering from the National Technical University of Athens.
Ιn her long professional career in Greece and abroad, particularly since 1994, she has held several senior management and CEO positions, among others, with Honeywell Europe, EFG Eurobank, Inchcape Hellas Group, Credit Agricole Indosuez Luxembourg and the National Bank of Greece. She was the Chairwoman & CEO of NN Hellas and NN Agency 2016-2022. In January 2022, with the acquisition of Metife in Greece she was also appointed Chairwoman and CEO of Metlife and Chairwoman of Metlife Mutual Fund Co.
Her extensive and diverse experience in senior management, contributed to her introducing best practices in internal and corporate governance, transforming the operating model and corporate culture. She designed and implemented the new strategy with significant turnaround, profitability and growth, focusing on people-centricity, customer service, teamwork, employee engagement, diversity and inclusion, innovation and digitalization.
Marianna Politopoulou is:
– Vice Chair of the BoD of Junior Achievement Greece
– Secretary General of the BoD of The Wharton Club of Greece
– Vice chair member of the Hellenic-Dutch Association of Commerce & Industry 2016-2022 and honorary member since 2023
– member of the Leadership Committee of the American – Hellenic Chamber of Commerce
She has also served as:
– elected member of the General Council, of the supreme advisory body of the Hellenic Federation of Enterprises (SEV) 2019-2022
– BoD member of the Hellenic Association of Insurance Companies and member of the Executive Committee of the Hellenic Association of Insurance Companies 2016-2022 and Chairwoman of the Life and Pension Committee 2022.
8. Aimilios Giannopoulos, son of Polykarpos, Independent Non-Executive Member
Aimilios Giannopoulos has served as Manager of PwC London for 13 years and of PwC Athens for 26 years and has many years of vast experience in Managerial positions in the financial sector.
During his tenure at PwC Greece from 1994 to 2021, he served as Head of Audit Department, founder and Head of the Consulting Services Department on acquisitions, mergers and financing (Deals Advisory), founder and Head of the special unit providing advisory services on non-performing bank loans (NPL Advisory) as well as Head of Customers and Markets for the company. At the same time, he serves as Business Consultant and member of the Boards of Directors of companies and organizations such as Quest Holdings, PQH (single liquidator of the 17 Bankrupt Greek banks), Fresh-Life UG, Campion School and St Catherine’s School.
Mr Giannopoulos was born in London, where he completed his studies. He is a member of the Institute of Certified Auditors of England and Wales FCA, ICAEW, and the Board of Directors of the Hellenic Club of Non-Executive Members of the Boards of Directors.
He also has significant voluntary action, supporting and advising start-up companies on their financial and strategic planning through PwC’s Corporate Responsibility program.
9. Charikleia Vardakari, daughter of Nikolaos, Independent Non-Executive Member
Charikleia Vardakari holds a BA in Business Administration from the University of Piraeus and an MBA in Finance from École Νormale Supérieure, in Paris. Mrs Vardakari started her career as a business and financial consultant with Interaction SA focusing on feasibility studies for various sectors of the economy. Soon after she moved to HSBC Bank plc in Athens as a Senior Executive (Corporate & Private Banking). Since the mid-90s she is contributing to the development of Factoring in Greece, having served as a Senior Manager at ABC FACTORS S.A. For the last fourteen years she held the position of Chief Executive Officer of Piraeus Factoring S.A., and served as an Executive Board Member of the same company. Since early 2020, Mrs Vardakari serves as a non-executive Member of the Board and Member of the Board’s Audit Committee of Hellenic Public Properties Company S.A. (ΕΤΑΔ ΑΕ).
10. Christos Alexakis, son of Apollonas, Non-Executive Member
Mr. Christos Alexakis is an Associate Professor at the Department of Finance and Accounting of the Rennes School of Business in France, and a Visiting Professor at the University of Cattolica in Milan Italy. He has taught at the Universities of York, Leeds, Bradford, the University of Athens, the University of Piraeus and the Open Universities of Greece and Cyprus. Mr. Alexakis has published numerous papers in high quality scientific journals with referees, and several books on finance and banking (Behavioral Finance, Islamic Finance and Banking, Takaful – Islamic Insurance, among others).
Along with his academic experience, Mr. Alexakis has significant professional financial experience acting as CEO for companies in the financial sector. He has served as an advisor to the State on privatization issues at the Ministry of Development. During the period 2010-2011 he was the CEO of Invest in Greece S.A., the official investment promotion agency for Greece (Enterprise Greece S.A today). From 2016 to 2020 Mr. Alexakis was a member of the SMSG group of the European Securities and Markets Authority (ESMA). Since 2017 he has been a member of the Selection Committee of the Hellenic Financial Stability Fund (HFSF) as the representative of the Bank of Greece. He has participated in the IVLP program, the U.S. Department of State's premier professional exchange program. He strongly supports sustainable finance and ESG policies.
11. Despoina Doxaki, daughter of Ioannis, Non-Executive Member
Professional with an overall experience of 30 years in international financing transactions. Expertise in all types of funds raising and lending while also the last years involved in EU and institutional policy making matters. Involved in the Banking Infrastructure and Energy sectors. The last years serves as a Board and Committee Member in Public Power Corporation S.A. Relocated from London to Athens to assume the position of Chief Legal Counsel with the Hellenic Financial Stability Fund. Working experience in Athens, London, N.Y. and Brussels. Accustomed working in multicultural environments. During her carrier she has worked with Chadbourne - Norton Rose Fulbright, Shearman & Sterling, Milbank, McDermont Ellis (Stanbrook & Hooper), the EU Commission, Alpha Bank AE, KPMG, Ellaktor (CIS) and KG Law Firm. Holder MSc in Law.
12. Theodoros Karakasis, son of Stylianos, Non-Executive Member
Mr. Karakasis has many years of banking experience (48 years) in positions of responsibility in credit institutions in Greece and abroad. He began his career at the First National Bank of Chicago, where he worked for 17 years (1973 – 1990) in seven countries, including London, where he was vice president of the Bank from 1985-1990.
He was a founding member of Eurobank Ergasias S.A. and for the years 1990-2012 he held the position of Deputy General Manager. Then, during the years 2012-2022, he held various positions on the Boards of Directors and Board Committees of Eurobank subsidiaries in Southeast Europe, such as Eurobank Beograd in Serbia, Bancpost in Romania and Eurobank Bulgaria – Postbank in Bulgaria. Mr. Karakasis is a graduate of the Department of Economic Sciences of the University of Athens and a graduate of First Chicago's Credit and Finance Development School as well as having attended Computer programming and Analysis with DEC at Reading U.K. and with NCR at Rolling Meadows, Illinois, U.S.A.
13. Konstantinos – Vasileios Adamopoulos, son of Grigorios, Non-Executive Member
Kostas Adamopoulos started his professional career at NBG in 2000 and held various positions in Finance and Strategy until 2013. He was then appointed as Assistant General Manager of Corporate Strategy & Business Planning at Piraeus Bank until 2016 and held CFO positions in the finance industry (Credicom CF, Qualco). In April 2019, he was appointed as Assistant General Manager of Strategic Transactions up to June 2023.
He holds an MSc in Finance from Queen Mary & Westfield (University of London), a BSc in Economics from University of Athens. He is a CFA charter holder since 2004.
Committee Members CVs
- Christos - Stergios Glavanis (Non BoD member, Independent to the Bank in the sense of par. 1 (e) of article 44 of Law 4449/2017)
Christos Glavanis is an experienced executive with over 35 years in the consulting sector, who led EY as Managing Partner in Central and Southeastern Europe based in Greece and then in the private sector. Mr. Glavanis participates as a Non-Executive Member in Boards of Directors of prestigious companies. Mr. Glavanis, while at EY, was responsible for several years for the Corporate Finance services of the company that covers Western and Southeastern Europe. As part of EY and later head of Family Office, Christos was extensively involved in many M&A transactions in various sectors. His experience has also been covered as a reference accountant in IPO in Greece and companies listed on NASDAQ and as a Certified Auditor in leading Greek companies. He studied Economics at the University of Hull and is a member of the Board of Certified Auditors.
Board of Directors’ and Bank Committees
The Audit Committee is composed of at least three (3) non-executive members of the Bank’s Board of Directors, two (2) of whom are independent non-executive members To see the Committee Members, click here. The Members of the Audit Committee are elected by the General Meeting of shareholders. The term of office of the Audit Committee’s members is three years. Renewal of the term of office or modification of the Audit Committee’s composition shall always be made by decision of the Bank’s General Meeting. In case of resignation of an Audit Committee’s member, the vacant position is filled upon decision of the Bank’s Board of Directors, which shall be submitted to the next General Meeting of shareholders for approval. The General Meeting shall also appoint the Audit Committee’s Chairman, who cannot exercise the duties of the Board of Directors’ Chairman or the Risk Management Committee’s Chairman. The Audit Committee’s member must have sufficient knowledge of the banking and in general financial sector.
The Committee shall, inter alia, monitor, examine and evaluate the financial reporting process and make recommendations or proposals to ensure its integrity, where appropriate.
It also assesses the scope of audits performed by the Certified Auditors and the External Auditors, their working methods and generally the services they are required to provide to the Bank and the Group.
It monitors, reviews and evaluates the adequacy and effectiveness of the Bank’s overall policies, procedures and safeguards with regard to the Bank’s Internal Audit System, quality assurance and risk management concerning financial reporting issues.
It oversees the adoption of accounting standards by the Bank, receiving fully reasoned information from the CFO including the implications of their implementation.
It facilitates communication between the Board of Directors, Management, Internal Audit and External or Certified Auditors and the Bank of Greece regarding the exchange of views and information.
Corporate Governance, Nomination, Human Resources and Remuneration Committee
The Committee is composed of at least three (3) non-executive Board of Directors’ members, who, at least in their majority, including its Chairman, are independent non-executive members To see the Committee Members, click here. The Committee’s Chairman and its members as well as the exact number of its members are appointed and determined, respectively, by decision the Bank’s Board of Directors.
The term of office of the Committee’s members is the same as their term of office as members of the Board of Directors. In the event a member leaves the Committee for any reason, such member is replaced by decision of the Bank’s Board of Directors. Until the decision on the replacement is adopted, the Committee will continue to operate as long as the number of the remaining members is at least three.
The Committee’s responsibilities, among others, include:
Planning and coordinating the implementation of the process of identifying and selecting candidates for the Board of Directors and its committees.
Describing the individual skills and qualifications required to fill the positions of the Board of Directors’ members and the estimated term to be devoted to the corresponding position.
Assessing periodically and at least annually:
the structure, size, composition and performance of the Board of Directors and submission of recommendations to the latter regarding any changes it deems appropriate;
the combination of broadness, knowledge, skills and experience per subject of the Board of Directors’ members on an individual and collective level and submission of a relevant report to the Board of Directors.
Validating the appointment of senior management executives, with the exception of the heads of the Internal Audit Division and the Regulatory Compliance & Corporate Governance Division, who are appointed by the Audit Committee and the head of Risk Management Unit who is appointed by the Risk Management Committee, after consulting with the Committee.
Assessing existing or potential conflicts of interests of the Board of Directors’ members with those of the Bank, including transactions of the Board of Directors’ members with the Group, and submission of relevant proposals to the Board of Directors, in accordance with the Bank's Internal Regulations and best international corporate governance practices.
This Committee, among others, deals with the planning and coordination of the implementation of the process of identifying and selecting Board of Directors’ members and its committees with the purpose of formulating proposals and submitting them for approval to the Board of Directors for the election of the Board’s members, in accordance with the legal and regulatory framework and the Bank’s Articles of Association.
Moreover, it submits proposals on the Remuneration Policy of the Bank’s and the Group’s personnel, including those that have an impact on the risks undertaken and their management and suggests to the Board of Directors the adoption of decisions.
It directly supervises the remunerations of the senior executives of the Risk Management Division, the Regulatory Compliance Division and the Internal Audit Division.
In addition, it informs, advises and assists the Board of Directors on the planning, formulation, review and oversight of the implementation of the Remuneration Policy and supports the Board of Directors.
The Committee’s Regulation is approved by the Bank’s Board of Directors and may be reviewed on a regular basis, at least annually or extraordinarily depending on changes in the parameters adopted during the ordinary review.
Risk Management Committee
The Risk Management Committee is responsible for carrying out the duties set out in this Regulation in order to be able to adequately inform the Board of Directors on all matters relating to the risk-taking strategy and the risk tolerance level in carrying out its duties. The Risk Management Committee is composed of at least 3 (three) non-executive Board of Directors’ members, of whom at least one (1) shall be an independent non-executive Board of Director’s member. One member (1), who cannot be the Board of Directors’ Chairman, is designated as the Committee’s Chairman To see the Committee Members, click here.
The Committee’s members, both at individual and collective level, must have sufficient knowledge and experience in the area of risk management and, in particular, in risk management and control practices, to effectively cover all forms of risk, including operational risk and to ensure their unified control, their specialized treatment and the required coordination at the level of the Group’s Bank.
The Committee, among other things, advises and supports the Board of Directors regarding the monitoring the Bank's overall present and future risk-taking and risk-taking strategies, taking into account all types of risks, to ensure that they are consistent with the Bank's business strategy, objectives, corporate culture and corporate values.
It assesses annually the adequacy and effectiveness of the Bank's and the Group's risk management policy, and in particular compliance with the specified level of risk tolerance, the appropriateness of limits, the adequacy of forecasts and the general adequacy of equity in relation to the amount and form of the risks assumed, at least on the basis of the annual CRO report and the relevant extract of the Internal Audit Unit report. The Committee’s Regulation is approved by the Bank’s Board of Directors and is be revised whenever necessary, in accordance with any changes made.
The Executive Committee monitors and ensures the smooth and efficient operation of the Bank in implementing its strategy, business plan and budget, as approved by the Board of Directors. It is composed by at least eight (8) members, one of whom is the CEO, who is appointed as its Chairman To see the Committee Members, click here.
The Committee monitors the achievement of the objectives at the Bank and Unit level, examines deviations, decides on corrective measures and provides guidance to the competent corporate structures. In addition, it specifies the implementation of the strategy, coordinating the actions of the Bank's Units, and decides the policy of developing the network and the Group.
Asset-Liability Management Committee (ALCo)
The Asset-Liability Management Committee (ALCO) is composed of at least 3 (three) members, one of whom is the Bank’s CEO, who is appointed as its Chairman, as well as of consultative members. The principal members may be either executive members of the Board of Directors or executives of the Bank To see the Committee Members, click here.
It forms the policy of the Bank and the Group’s companies regarding the structure, pricing and management of Assets and Liabilities. It also monitors the financial developments and the basic business assumptions based on which the Bank formulates its policy.
Among other things, the Asset-Liability Management Committee (ALCO) decides the framework for undertaking and hedging liquidity and interest rate risks using the appropriate tools and sets out the broader interest rate policy of the Bank and the Group’s companies.
It determines and supervises the implementation of the Bank's internal pricing system and establishes the internal pricing policy between deposit / lending units and approves the liquidity contingency plan and diversifies the Bank's sources of cash flow.
It also approves the stress test program and examines the results of applying scenarios for extreme changes in capital markets and evaluates and approves the launch of new deposit or loan products as well as the Bank's expansion into new products or services that are compatible with its strategic planning.
Whistleblowing - Mechanism
Attica Bank, makes constant efforts to maintain entrepreneurial mindsets of transparency and trust, high standards of business ethics, and gives particular importance to the safety and reputation of anyone affected by its activities. In this context, the Bank is in compliance with Directive 2019/1937 of the European Parliament and with Law 4990/2022 regarding the protection of individuals who report violations of EU law.
Bank establishes an anonymous information channel with respect to the fundamental rights to freedom of expression and information, consumer and personal data protection as well as business freedom and good management. The Bank is committed to ensuring high level of protection for individuals who report unjust behavior and violations of the law. It is a system with reporting channels and follow-up procedures regarding issues related to human rights and, in general, any action or omission that may cause moral or material damage to Attica Bank.
The Bank, adhering to the criteria of impartiality and independence, appoints the Compliance and Corporate Governance Manager as the responsible person for receiving reports, while the relevant Committee evaluates Anonymous and Eponymous Reports and undertakes their management.
In particular, reports may be submitted regarding breaches of corporate policies and procedures, of regulations and applicable legislation (e.g. fraud, corruption, theft, embezzlement, money laundering, falsification of accounting documents and financial statements, failure to comply with the Code of Ethics and/or Attica Bank's Policies, human rights issues and in general any act or omission that may cause moral or material damage to Attica Bank) through the following alternative channels:
- By sending a letter to PO Box 9321-TK 10032 ATHENS (ELTA, 54 Solonos & Mantzarou)
The whistleblowing mechanism is an important tool for developing high ethical standards and maintaining the trust of customers and the general public in us.
The Bank undertakes a) to collect and retain only the necessary data in accordance with the principle of proportionality, b) to delete them securely after five (5) years, unless there are important reasons that require their retention (e.g. ongoing investigation, pending legal proceedings), c) to protect personal data from loss, misuse, unauthorized access or disclosure and in general to ensure the existence of appropriate technical and organizational measures for their protection.
Attica Bank takes all necessary measures to ensure that persons who provide information about incidents of misconduct, in the reasonable and good faith belief that such complaints are well-founded, do not suffer personal, professional or financial harm.