MAIN TASKS OF THE MANAGEMENT BOARD
The Management Board of the Bank determines the priority areas of the bank's activities, approves and monitors the implementation of the bank's development strategy, approves the risk and capital management strategies of the bank, determines the principles and approaches to the establishment and operation of an effective internal control system, evaluates the activities of the executive bodies of the bank, approves the personnel policy, as well as the principles of corporate governance and information policy of the bank.
An independent director is a person who has sufficient expertise, experience, and independence to form his position and can make objective and bona fide judgments, independent of the influence of the bank's executive bodies, individual groups of shareholders, or other stakeholders. The bank complies with the recommendations of the Corporate Governance Code in terms of electing at least one-third of independent directors to the Management Board.
The bank may establish a limit on the number of organizations in which the Board members act as the Board members or have employment relations.