supervises the Bank’s operations, including the operation of risk management and internal control systems. It also defines the number of the Bank’s Management Board members, appoints and dismisses the Chairman, Deputy Chairmen and the Bank’s Management Board members and sets their compensation.
The Supervisory Board may establish standing or ad hoc committees to perform specific activities. The Supervisory Board’s standing committees are the Audit Committee, the Personnel Committee, the Strategic Committee and the Risk Committee. Most Audit Committee members, including its Chairman are independent within the meaning of the Act on Statutory Auditors, Audit Firms and Public Oversight. The Supervisory Board has 12 members (10 men and 2 women). Seven members of the Supervisory Board, including its Chairman, are Polish citizens. Six of the Supervisory Board members are not related to any shareholder with at least 5% of the Bank’s shares. The Supervisory Board’s term of office is three years.