Corporate Governance Framework
At BCN, we are committed to implementing sound corporate governance principles to ensure that we are aligned with the highest standards and international best practices in all aspects of our operations.
We believe that good corporate governance should be at the crux of all our business practices in order to safeguard the interests of each of our stakeholders. Our corporate governance framework was designed in that spirit, defining the roles and responsibilities of our corporate bodies and optimizing the cooperation between them.
As part of evaluating the effectiveness of our corporate governance standards, an independent assessment was conducted based on a scorecard approach covering various aspects of the following standards:
Our corporate governance framework is also geared towards reinforcing a strong risk management culture through a comprehensive set of processes that are designed to effectively identify, assess, measure, monitor and control risk exposures. The Board of Directors and Senior Management are also involved through the Committees establishing material risk processes, as well as through the periodic oversight and guidance of the risk management function.
We believe that good corporate governance should be at the crux of all our business practices in order to safeguard the interests of each of our stakeholders. Our corporate governance framework was designed in that spirit, defining the roles and responsibilities of our corporate bodies and optimizing the cooperation between them.
As part of evaluating the effectiveness of our corporate governance standards, an independent assessment was conducted based on a scorecard approach covering various aspects of the following standards:
- “Sound Principles for Corporate Governance” – issued by the Basel Committee for Banking Supervision.
- Draft Guidelines issued by the Central Bank – Circular 106.
Our corporate governance framework is also geared towards reinforcing a strong risk management culture through a comprehensive set of processes that are designed to effectively identify, assess, measure, monitor and control risk exposures. The Board of Directors and Senior Management are also involved through the Committees establishing material risk processes, as well as through the periodic oversight and guidance of the risk management function.