Banken for en verden i endring The bank for a ... - BNP Paribas

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Banken for en verden i endring The bank for a ... - BNP Paribas

• report of the Chairman / corporate governance at BNp paribas

Extracts from the Board of Directors’ Internal Rules:

Internal Control and Risk Management Committee

The Committee shall hold at least four meetings per year.

Composition

A majority of the members of the Internal Control and Risk Management Committee shall qualify as

independent directors based on the definition used by the Board in accordance with French corporate

governance guidelines.

No members of the Bank’s Executive Management shall sit on the Committee.

Terms of reference

The Committee is tasked with analysing reports on internal control and on measuring and monitoring

risks, as well as the General Inspection unit’s reports on its operations and key findings, and with

reviewing the Bank’s exchanges of correspondence with the General Secretariat of Commission

Bancaire.

It examines the key focuses of the Group’s risk management policy, based on measurements of risks

and profitability provided to it in accordance with applicable regulations, as well as on its analyses of

specific issues related to these matters and methodologies.

Interviews

It may interview, without any other member of Executive Management being present if it deems this

appropriate, the Head of the General Inspection unit responsible for Periodic Controls, the Head of

the Group Compliance and Permanent Control function and the Head of Group Risk Management.

It gives the Board of Directors its assessment concerning the methodologies and procedures employed.

It expresses its opinion concerning the way these functions are organised within the Group and is

kept informed of their programmes of work.

It receives a half-yearly summary on the operations and reports of the Internal Audit function.”

164

CORPORATE GOvERNANCE

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