Acting, individually and collectively, to foster responsible and ethical finance
Strategic roadmap for ethics and professional conduct (Continuous Monitoring and Compliance, Internal Audit, Legal and Risk)
Drafting and revision of policies and management processes
Strengthening of mechanisms
Drawing-up and internal validation of policy and procedure manuals
Improvement of processes and harmonisation of management procedures
Continued strengthening of the mechanism for checking
Implementation of risk manuals
Alignment with Basel II and III standards
Bringing of the overall portfolio’s impairment rate below 12% in 2018
Roll-out of information systems and of reporting tools that can be audited for each subsidiary
Setting-up of a contractual documentation database
Establishment of annual proactive dialogue with regulators
Instillation of a compliance culture
Instillation of a risk culture
Development of a culture of checking and of self-checking
Improvement of the quality of the portfolio
Bringing of the overall portfolio’s impairment rate below 10% in 2019
Securing of better legal protection for the bank
of at-risk employees have undergone compliance training
Calls for tenders subject to purchasing procedures
Transactions covered by anti-money laundering devices
Employees at risk subject to international anti-corruption tests
Employees trained in the risk class
Compliance and respect for the law
Orabank is committed to acting in accordance with legislation and regulations, and to combating illegal and unsafe practices.
The Group’s responsibility is to respect the various laws that are applicable, as well as the standards established by international institutions. Since 1 January 2018, Oragroup, as a bank holding company, has been directly regulated by the Banking Commission. The new regulations make it possible to strengthen the capital of the banking business, encourage a better risk management and greater transparency in financial communication. The Group has a well-established internal control system for identifying, managing and monitoring risks. Controls are designed to provide reasonable assurance that the risks the Bank faces are reasonably controlled. The internal audit and compliance functions play a key role in providing an objective view and ongoing assessment of the effectiveness of the company’s internal control systems.
Achieving these commitments implies respect by managers and all employees for shared ethical rules of conduct.
Code of ethics
Orabank is committed to making a culture of ethics, professional conduct and integrity take hold.
The Group has communicated the principles set out in the Orabank Group Code of Ethics to all its employees. This code sets the standards of professionalism and integrity required for the Bank’s operations. It covers compliance with applicable laws, respect for professional secrecy, protection of confidential information, conflicts of interest, commercial practices and behavior with customers, corruption and strict adherence to the principles set out in order to eliminate the risk of illegal practices
Prevention of corruption and money laundering
Orabank is committed to applying anti-corruption and transparency policies to the ways in which the company exercises influence and to the responsibilities of its executives.
The Orabank Group and its commercial banks, are exposed to the risk of corruption, money laundering and financing of terrorism. Orabank accompanies its teams in the integration of a culture based on integrity and the fight against practices not tolerated by the banking group. The code of ethics covers the issue of prevention of corruption and money laundering and an ethical charter. Since 2012, anti-money laundering devices have been implemented, such as real-time blacklist control when entering into a relationship with a client or during banking transactions. We are developing an AML / KYC (Anti-Money Laundering Compliance / Know Your Customer) client profile. In 2014, the Orabank Group adopted and implemented the Alert Policy, to encourage employees and all stakeholders, referred to as “whistleblowers”, to report facts that may constitute serious acts of procedures and internal rules or tort acts that could damage reputation and interests. Any whistleblower in good faith who reports an act of serious violation or tortious act in accordance with the procedures of the policy, will benefit from the protection of the Orabank group against any retaliation.