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2018 Financial and Social Report

The recruitment policy of Members of the Managing Body is an assurance that persons holding positions in the managing bodies have the appropriate professional qualifications as well as proper reputation. Persons holding functions in managing bodies must have a good reputation and be qualified in accordance with the profile of the function performed and the size of the area they manage.

The body responsible for assessing the suitability of the Members of the Bank’s Management Board is the Personnel Committee of the Supervisory Board.

The assessment of the suitability of the members of the Managing Body is based on the criteria set out in the Act of 29 August 1997 Banking Law and the criteria listed in detail in the Guidelines  on the assessment of the suitability of members of the management body and key function holders EBA / GL / 2012/06 22 November 2012 .

In the process of assessment of the suitability process are used the following criteria, including experience and reputation:

  • the level and profile of the education and training completed and their connection to banking or financial services,
  • practical experience related to financial markets, regulatory requirements, planning, understanding and implementation of business strategy, risk management, ability to establish an effective management system, supervision and control in a financial institution, the ability to interpret financial information of a credit institution,
  • the period of employment in the managerial position, the scope of competences at these positions, the type and complexity of subordinate structures and the number of subordinates,
  • any data that may indicate a good repute in personal and professional life, among others, data from criminal records or other administrative registers,
  • data regarding financial condition, for example financial and business results of entities owned by the Member or managed by him or entities in which he had significant shares.

Additionally, information is included to assess the independence of the Managing Body Members, in particular, past and present positions, personal, professional or business relationships with Members of the Management Board or shareholders with a controlling interest and the ability to allocate sufficient time for tasks related to the management of the credit institution.

The composition of the Managing Body must collectively have practical experience related to credit institutions.

Information about persons who are members of the Managing Body can be found in the Report of the Management Board of Bank Millennium’s operations in Chapter Management Board.