Annual Report 2014

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GOVERNING BODIES

The functions, powers and operating procedures of Vnesheconombank's governing bodies are regulated by the Federal Law "On Bank for Development" and the Bank's regulations
on governing bodies.


Supervisory Board of Vnesheconombank

The Bank's highest governing body is the Supervisory Board consisting of 8 members and the Chairman of Vnesheconombank.


The Chairman of the Russian Federation Government is the Chairman of Vnesheconombank’s Supervisory Board.


The members of the Supervisory Board of Vnesheconombank are appointed
by the Government of the Russian Federation.


The scope of functions of Vnesheconombank's Supervisory Board include defining the major areas of the Bank’s activities, approving the Bank’s revenues/expenditures plan (budget), the Bank’s annual report and an independent external auditor to perform mandatory annual audit of the Bank’s annual financial statements.


In 2014, 22 meetings of the Supervisory Board were held and 144 issues carefully scrutinized.



Vnesheconombank’s Management Board


Vnesheconombank's Management Board is a collective executive body of Vnesheconombank. The Management Board consists of Vnesheconombank’s Chairman (ex officio) and 8 Board members appointed by Vnesheconombank’s Supervisory Board.


The Chairman of Vnesheconombank superintends the Management Board activities.


In the reporting year, 945 issues were closely scrutinized by the Bank's Management Board
at 232 meetings.



Chairman of Vnesheconombank

Chairman of Vnesheconombank acts as the sole executive body.


Vnesheconombank’s Chairman is appointed to office by the President of the Russian Federation on the nomination of the Chairman of the Russian Federation Government.


The Chairman heads the Management Board and manages the Bank’s day-to-day operations.


With a view to supporting the activities of Vnesheconombank's executive bodies, collective working bodies give preliminary consideration to the issues that come within the competences of the Bank’s executive bodies and prepare the relevant recommendations.


These include Committee for Strategic Development, Credit Committee, Budget Committee, Committee for Assets/Liabilities Management, Risk Management Committee, Situational Committee, Information and Communication Technology Committee and Committee on Trust Management of Pension Savings.