Segregation of Duties and Conflict of Interest

In addition to the requirements, demands and prohibitions for participation in the Board of Directors, Fiscal Council, Executive Board and the Audit Committee, looking forward to mitigating conflicts of interest that potentially might occur, the Bank’s Bylaws anticipates the following rules of segregation of duties, to be adopted by the management bodies (Bylaws, article 32):

• The Directorships or units responsible for functions related to risk management are not under the direct oversight of a Vice-President to whom the Directorships or units that account for business activities might be linked to (Bylaws, article 32, I).
• The Directorships or units responsible for credit risk analysis activities are not under the direct oversight of a Vice-President to whom Directorships or units that are in charge of lending or guarantee activities might be linked to, except in cases of credit recovery (Bylaws, article 32, II).
• The Vice-Presidents, Executive Officers or any person responsible for managing the Bank’s own assets do not manage third-party assets (Bylaws, article 32, III).

Updated 12/20/2018 at 02:33 pm