Banca Generali's Board of Directors has set up an Audit and Risk Committee vested with consultative and recommendatory functions in respect of internal controls and risk management. The Committee assists the Board of Directors in laying down the guidelines of the internal control and risk management system, periodically checking that said system is adequate to the banks characteristics and risk profile, reviewing its effective functioning and also ensuring that the major company risks (credit, financial and operating risks) have been identified, adequately measured, managed and monitored, as well as determining the degree to which such risks are compatible with management of the enterprise in accordance with the strategic goals identified, in liaison with the responsible company functions.
Only non-executive and independent directors may sit on the committee (as defined in the Corporate Governance Code of Listed Companies adopted by the Italian Stock Exchange). The number of members has been set at four.
The Audit and Risk Committee is made up of the following members.