Annual Report: - Gorenjska banka

Report of the Supervisory Board of
Gorenjska banka, d. d., Kranj
The Supervisory Board presided by Franc Balanč and with Zlatko Kavčič, Miro Pinterič, Drago Štefe, Mojca
Globočnik, Miha Resman, and Mitja Selan acting as members was appointed at the General Meeting of
Shareholders of Gorenjska banka, d. d., Kranj, on 14 May 2008. The Supervisory Board members’ term will expire
at the conclusion of the General Meeting of Shareholders, at which a decision will be taken regarding the Bank’s
4th annual report, counting from the appointment of the Supervisory Board onwards.
In 2011, the Supervisory Board regularly monitored and supervised the Bank’s operations and the work of the
Management Board in accordance with its powers, competences and duties as stipulated in the Banking Act,
the Bank of Slovenia’s Regulation on the Diligence of Members of Management Boards and Supervisory Boards
of Banks and Savings Banks, the Companies Act, and the Bank’s Articles of Association. In the course of its
work, the Supervisory Board took into account the interests of owners, clients, and employees. In the light of
the substantially changed economic situation, the work of the Supervisory Board was very responsible in 2011.
The Audit Committee and the Commission for Receipts, Human Resources and Organisational Affairs are
responsible for the performance of special tasks from the area of the Supervisory Board's competencies. The
Audit Committee is presided by Mitja Selan, with Mojca Globočnik and Dr. Marko Hočevar acting as members.
The Committee’s competences include opinions regarding the Bank’s annual report, proposal for appointing
the external auditor for auditing the Bank’s financial statements, and the annual report of the Bank’s internal
audit department. The Commission for Receipts, Human Resources and Organisational Affairs, which consists of
three members of the Supervisory Board, i.e. Franc Balanč, Zlatko Kavčič, and Mitja Selan, discussed and adopted
the realisation of the Bank's 2010 plan of development and business policy foundations with an assessment of
the Management Board's work, the policy of receipts and bonuses at the Bank, and the initiation of the election
procedure for the Supervisory Board members.
Review of the Supervisory Board’s activities in 2011
In 2011, the Supervisory Board held seven regular and three correspondence sessions. The Board regularly
monitored the Bank’s current operations and financial results achieved. The supervisory function was carried
out based on regular briefings from the Management Board, and based on the certified auditor’s report and the
annual report at the end of the financial year.
The Management Board informed the members of the Supervisory Board in a regular, timely and comprehensive
manner about the Bank’s business results achieved as well as all major events related to the Bank’s operations,
strategy, and risk management. Two thematic sessions were dedicated to comprehensive examination of risk
management.
The Supervisory Board was regularly briefed on the work of the internal audit department. It approved the 2010
internal audit report and established that the department functioned independently in accordance with its adopted
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Gorenjska banka, d. d., Kranj
Annual Report 2011
Management Report