MBU Informe Anual 2009 Ingles24may10:maquetaci..n 1

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Prevention and Control of Money Laundering The mission of the Prevention and Control of Money Laundering unit is to ensure compliance with the Anti-Money Laundering regulations in force (Superintendency of Banks and Other Financial Institutions Resolutions 185-01 and 136-03), the Law Against Organized Crime and the Law Against Illicit Traffic and Use of Narcotic Drugs and Psychotropic Substances, supporting the Organization through a systematic, professional approach in order to detect, follow up and manage reputational risk due to money laundering and by providing data, analyses and recommendations to guarantee that it acts in accordance with the legislation in force and with best international practices in that field, such as the recommendations of the Financial Action Task Force (GAFI), the Caribbean Financial Action Task Force (GAFIC), the Wolfsberg Principles and the Customer Due Diligence for Banks of the Basel Committee on Banking Supervision of the Bank for International Settlements. The Comprehensive System for the Prevention and Control of Money Laundering has been set up and developed to guarantee compliance with anti-money laundering legislation. It consists of a Compliance Officer, a multidisciplinary committee, a Prevention and Control unit and a Compliance unit whose staff is responsible for areas liable to involve money laundering risks. The unit also implements operating and follow-up plans, undertakes evaluation and control, and has a Code of Ethics and a Manual of Anti-Money Laundering Policies, Standards and Procedures, and it also runs a Training Program. Its action during <strong>2009</strong> was targeted mainly at strengthening coverage and minimizing Money Laundering risks, by approving and setting policies, updating the Policies, Standards and Procedures for the Prevention and Control of Money Laundering Manual, appointing 197 compliance staff in areas susceptible to risk, implementing new anti-money laundering administrative and operating processes, training staff with special emphasis on those responsible for managing processes that are the most sensitive to risk, and acquisition of state-of-the-art technology, all of which has led to an efficient and effective structure and a highly professional risk management process, all interacting with the rest of the units within a climate of ongoing improvements. The “Know your Customer” policy is crucial to the timely detection of operations presumed to involve money laundering. Anti-money laundering compliance processes are reviewed on a regular basis by the Superintendency of Banks and Other Financial Institutions and by the External and Internal Auditors. The unit liaises constantly with all the regulatory authorities to guarantee a free and effective flow of communication between them. An extensive anti-money laundering training program of workshops and courses was organized and these were attended by a total of 7,616 employees. 69 Mercantil Banco Universal
ADRIÁN, PUJOL ADRIÁN PUJOL El Ávila desde Altamira II • 1994 Acrylic on canvas • 130 x 176 cm
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ANNUAL REPORT2009
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Banco Universal 2 Annual Report 200
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Principal Directors Alternate Direc
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MARGOT RÖMER MARGOT RÖMER Proyect
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During the year, Bs 198, 364,572.42
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* Dollar figures are given for refe
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The office network comprises 297 ba
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Development and Working Environment
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JORGE PIZZANI JORGE PIZZANI Oversca
Page 19 and 20: Consolidated Balance Sheet (In Boli
Page 21 and 22: Income Statement (In Bolivars) Inte
Page 23 and 24: RAFAEL BARRIOS RAFAEL BARRIOS Trian
Page 25 and 26: Venezuelan oil basket prices declin
Page 27 and 28: OSCAR PELLEGRINO OSCAR PELLEGRINO U
Page 29 and 30: Investments in Securities by Issuer
Page 31 and 32: (1) Obtained from dividing sharehol
Page 33 and 34: 32 • Bs 33 million in fees paid t
Page 35 and 36: CARLOS ZERPA CARLOS ZERPA El Dorado
Page 37 and 38: Commercial and Personal Banking Dep
Page 39 and 40: To encourage customers to use our c
Page 41 and 42: Financial Institutions and Internat
Page 43 and 44: Finance In 2009 the Treasury unit c
Page 45 and 46: RAFAEL BARRIOS RAFAEL BARRIOS Trif
Page 47 and 48: 46 Mercantil Banco, C.A. and BBVA B
Page 49 and 50: Continuing with the strategy to dev
Page 51 and 52: ERNESTO LEÓN ERNESTO LEÓN Porrón
Page 53 and 54: Within the framework of the project
Page 55 and 56: JULIO PACHECO RIVAS JULIO PACHECO R
Page 57 and 58: Breakdown of Credit Risk by Country
Page 59 and 60: Market Risk An institution is subje
Page 61 and 62: Operational Risk Operational risk m
Page 63 and 64: ADRIÁN, PUJOL ADRIÁN PUJOL Caraca
Page 65 and 66: NTONIO LAZO ANTONIO LAZO (Blas Anto
Page 67 and 68: Culture, Quality of Life and Enviro
Page 69: ERNESTO LEÓN ERNESTO LEÓN Turpial
Page 73 and 74: 72 Mercantil’s governance structu
Page 75 and 76: 74 Executive Committee The Bank has
Page 77 and 78: OSCAR PELLEGRINO OSCAR PELLEGRINO S
Page 79 and 80: Board of Directors Directors Gustav
Page 81 and 82: Gustavo Galdo C. President of Inver
Page 83 and 84: Executive Committee Gustavo Antonio
Page 85 and 86: Produced by: Corporate Communicatio
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MBU Informe Anual 2009 Ingles24may10:maquetaci..n 1

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