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IMB Group / Investor Relations / Corporate Governance / International Mortgage Bank Committees

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International Mortgage Bank Committees

Asset and Liability Committee (ALCO)

Chairman: Todd Esposito, Chief Financial Officer

The purposes and tasks of ALCO are:

coordination of the bank’s divisions with respect to asset and liability management
formation of the optimal structure of the Bank’s balance sheet to provide the maximum profitability, limiting the possible level of risk
formation of the Bank’s capital markets policy
control over the capital adequacy and risk diversification
execution over the uniform interest policy
monitoring the execution of ALCO’s decisions by the Bank’s divisions
reviewing the basic performance indicators (ROE, ROA, etc.) as prescribed in the Bank’s policy
determination of the Bank’s liquidity management policy

ALCO is appointed by a Resolution of the Bank Management Board and should include not less than 3 persons, including ALCO Chairman and Deputy Chairman. ALCO members should include a Deputy Chairman of the Board, Head of Risk Management and Head of the Treasury Department.

ALCO meetings should be held not less than once per month. If necessary, additional meetings can be convened.

Voting is undertaken on the “one person-one voice” principle. The Committee is authorized to pass resolutions if at least 2/3 of its members are present. A resolution is deemed passed if more than half of ALCO members voted “for” such resolution.

The ALCO’s resolutions are binding on all Bank employees.

Credit Committee

Chairman: Peter Barcak, Chief Risk Officer.

Credit Committee determines the Bank’s credit policy and how risk management should be incorporated into the decision making process.

Credit Committee duties include:

formation of the credit and investment policy and assuring its execution
control over risk management
examination of the credit portfolio and reserves
examination and decision making on loans, guarantees and other credit operations

The Credit Committee has the authority:

To approve the credit policy and credit procedures
To set limits on making decisions about credit operations and credit policies
To set limits of concentration of the credit risk, taking into consideration industrial, geographical and portfolio diversification
To make decisions on exceeding the limits
Within its competence, to make decisions on disbursing loans, guarantees, overdrafts, leasing contract, other credit operations, including acquiring credit portfolio in both national and foreign currencies
To make decisions on setting individual interest rate on the credit operation
To make decision on classification of the credit portfolio and formation of the reserve

Credit Committee Head, Deputy Head, members and the Secretary are appointed by the Management Board of the Bank. Credit Committee should include not less than 3 persons.

Tender Committee

Chairman: Todd Esposito, Chief Financial Officer

The main function of the Tender Committee is obtaining the most favorable terms for acquisition of goods, work and services required for the Bank's main activities (hereinafter referred to as “purchases”). The main goal of the Tender Committee is to lower budget expenses and secure corporate interests of the Bank.

The Tender Committee is headed by the Chairman appointed by the Bank's Management Board. The Tender Committee should include not less than 3 persons form the Bank’s employees and might also include independent experts by the Resolution of the Bank’s Chairman of the Board.

The Tender Committee has the authority to pass a final resolution on approval of tender results and all material terms and conditions of agreements (contracts) within its competence.

The Committee is authorized to decide any matters submitted for consideration to it, if at the meeting of the Committee there are present at least 2/3 of the Tender Committee members. Resolutions of the Tender Committee are deemed passed if majority of the Tender Committee members voted “for” such resolution.

Tariff Committee

Chairman: Todd Esposito, Chief Financial Officer

The purposes and tasks of the Tariff Committee are:

Designing and reviewing tariff policy;
Setting the methodology for Company’s services cost price;
Developing and implementing tariffs and commissions on the Company’s services;
Setting discounts on certain tariffs and certain customers;
Ensuring competitive rates of the Bank’s services;
controlling tariff decisions, assessing, where necessary, issues of nonperformance;
Monitoring the market, summarizing monitoring results and defining Company’s position at the market;
Receiving and analyzing reports of Company’s operating units on operations;
Conducting competitive analysis between Company’s services vs. competitors, proposing tariff changes; and
Barring providing Company's services on tariffs below Company’s services cost price except to strategic partners and customers.