For effective management of the Bank, a credit committee and an audit commission were created. These structures make the final decision on granting a loan to the borrower, and also exercise control and monitoring functions of the Bank’s current activities.
The Credit Committee is a permanent collegial body of CB “CIBIT-BANK” LLC, responsible for making the final decision on approving or refusing to issue a loan to the borrower and approving the loan conditions for him. The scope of the credit committee includes the following issues: risk assessment when the Bank provides new loans, management of the Bank’s credit policy, decisions on changing the conditions of existing loans and credit lines, improvement of lending business processes, analysis and risk management of the Bank’s loan portfolio.
The Audit Commission is an internal financial control body of a legal entity elected by the General meeting of participants of CB “CIBIT-BANK” LLC to control the financial and economic activities of the Bank. The Audit Commission performs annual audits of the Bank’s financial and economic activities. Based on the results of inspections, it sends the Bank’s Board conclusions on the Bank’s status and recommendations for correcting the identified errors and violations. Monitors corrections throughout the year. On the instructions of the Board of the Bank, it conducts inspections of individual divisions or areas of activity of the Bank.