Committees

Board Committees

The four Board Committees were set up in accordance with the recommendations in the Code of Conduct and the requirements established by the Bank of Italy on corporate governance. They mainly serve advisory and consultation functions.

Risk Committee and Sustainability 100% independent member	The Risk Committee and Sustainability reports to the Board on risk management (including ESG risk assessment and monitoring), the internal control system, and the accounting and financial reporting structure and advises the Board on sustainability issues.
Related Parties Committee 100% independent member	The Related Parties Committee has the following duties: to express binding opinions on the adoption of, and potential amendments to, the related parties procedure; and to express its reasoned opinion on the Bank’s interest in executing transactions with related parties.
Remunerations Committee 100% independent member	The Remunerations Committee performs advisory and consultation functions on remuneration policies, the calculation of remuneration for senior management positions, the remuneration of employees and incentive and retention plans.
Appointments Committee 100% independent member	The Appointments Committee supports the Board in the appointment of Directors (when new members are co-opted), the Board assessment and the drafting of succession plans for senior management positions.

In addition to the committees required by the regulations in force and the Code of Conduct, the Board of Directors has instituted the committee provided for in Article 18(4) of the Bank’s Articles of Association. This committee adopts resolutions on appointments to governing bodies made at the annual general meetings of listed investee companies in which the Group has an investment of at least 10% of the company concerned and the value of which is equal to more than 5% of the Group’s own regulatory capital.