On 27 September 2007, the Board of Directors appointed Carlo Sirombo as Corporate Financial Reporting Officer, effective from 1 October 2007. Mr. Sirombo is also Head of Administration and Accounting and the General Affairs Areas.
Pursuant to Article 19 of the Articles of Incorporation:
- the Board of Directors, pursuant to Article 154-bis of Legislative Decree no. 58/1998, after having received the mandatory opinion of the Board of Statutory Auditors, appoints a Corporate Financial Reporting Officer;
- the Corporate Financial Reporting Officer must meet the same requirements of integrity as those necessary for election as Statutory Auditor as per Article 2 of Ministry Decree no. 162 of 30 March 2000 and of professionalism necessary for election as a Director of Banks that are joint-stock companies as per Article 1, paragraph 1, of Ministry Decree no. 161 of 18 March 1998.
Following a proposal made by the Risk Management and Internal Control Committee, the Board of Directors allocated a budget of 100.000 Euro to the Corporate Financial Reporting Officer with the obligation to report to the Board on how the funds are utilised. The Financial Reporting Officer may exceed the approved budget limits in the case of specific and proven needs, pursuant to the general provisions laid down by the ‘Regulations Governing the Corporate Financial Reporting Officer’ approved by the Board of Directors on 7 March 2011.
Shown below are the Heads of the other company functions who have been assigned specific tasks on the subject of internal control and risk management:
- The position of Chief Risk Officer (CRO) is assigned to Mr. Kristian Tomasini. The Parent company Risk Management Office has an annual expenses budget, agreed upon with the Chief Executive Officer, according to the action plan presented;
- The position of Compliance and Anti-money Laundering Officer is assigned to Mr. Francesco Peluso, who is provided with an annual budget of € 25.000.
- The position of Anti-money Laundering Supervisor was assigned to Ms. Giovanna Bazzaro during 2014.
The duties and responsibilities of the afore-mentioned second-level control functions are in line with recalled supervisory provisions on Internal Control Systems issued by the 15th Amendment to Bank of Italy’s Circular 263/2006 of 2 July 2013 (new provisions for prudential supervision of Banks).