In the year ended 30 June 2020, the Board of Directors met 9 times, in addition to induction and training sessions.
The level of participation by the board members is high, with average attendance of over 93%.
The average duration of board meetings was four hours and thirty minutes.
The Board of Directors is called to meet by the Chairman or upon the request of at least three Board members. The Board of Statutory Auditors, or even only one of its members, may call a meeting of the Board of Directors by notifying the Chairman. The Board may pass binding resolutions even if it has not been formally called provided that the meeting is attended by all board members and all the standing auditors in office. Board meetings may also be held via video or telephone conference call.
Each Board member’s attendance at the meetings is indicated below:
|ATTENDANCE AT BOARD MEETINGS (2019/2020)|
|MAURIZIO ANGELO COMNENO||100%|
|FRANCESCO SAVERIO VINCI||100%|
|VITTORIO PIGNATTI MORANO||88,9%|
Induction and training
The Board offers induction and training programs to sharpen Directors’ expertise and round out their knowledge of the group or specific areas of interest to the Directors. The Chairman sets the agenda based on the findings of the Board assessment, and considering any recommendations gathered from Directors, as well as the suggestions of area and control function heads.
The following induction and training meetings were arranged during the year ended 30 June 2020 outside of the Board meetings themselves, for the benefit of directors and statutory auditors:
- seven induction meetings for the whole Board on the following topics: ICAAP-ILAAP; SREP letter 2019; Liquidity, Funding Policy and FTP model; the RAF as risk management instrument and its relation to budget; analysis of banking regulations on the issues of transparency and anti-money-laundering; Remuneration Policies; and the functioning of the AIRB models used for credit risk;
- one induction meeting addressed to the Risks Committee and subsequent debate by the Board of Directors on the following issue: Group Audit Plan for means of conducting audits remotely;
- two training sessions on more general issues (open also to Board members of other Group banks) on the following issues: cyber security and new technologies in the banking/financial sector: fintech, crypto-currencies, blockchain and artificial intelligence; macroeconomic and geopolitical scenarios.
The average duration of the induction meetings was around two hours and 15 minutes, that of the training meetings approximately 3 hours.
Minutes of the board meetings
The minutes of the Board meetings are available in Italian