Ethics and deontology
Ensure ethical and legal behavior, moral integrity, and listening.
At-risk employees with compliance training
95%
Tenders subject to procurement procedures
7%
Transactions covered by anti-money laundering devices
71%
At-Risk Employees Subject to International Anti-Corruption Testing
78%
Employees trained in risk class
39%
In 2022, ORAGROUP will continue to strengthen its governance, as part of the implementation of the new Banking Commission Circulars 1, 2, 3, 4 and 5 that came into force on July 2, 2018, and to strengthen the capacity of its staff to maintain a high level of service to customers, in an ongoing concern to control risks and preserve the quality of its signature.
Compliance
Orabank is committed to acting in accordance with laws and regulations and to combating illegal and unsafe practices.
The Group’s responsibility is to respect the various applicable laws, as well as the standards established by international institutions. Since 1 January 2018, Oragroup, as a Holding Company holding bank shares, has been directly regulated by the Banking Commission. The new regulations strengthen the capital base, improve risk management, and enhance transparency in financial reporting.
The Group has a well-established internal control system to identify, manage and monitor risks. Controls are designed to provide reasonable assurance that the risks faced by the Bank are reasonably controlled. The control functions of internal audit, compliance and risk management play a key role in providing an objective view and ongoing assessment of the effectiveness of the company’s internal control systems. The relationship between the supervisory functions within the group is set out in the charter of supervisory functions which specifies the mission, powers, responsibilities, and scope of intervention of the supervisory functions and defines their position in the organization. Within Oragroup, a Committee on Control Functions has been set up to coordinate the various control functions.
As a result of the legislative body, the Audit Committee, which is responsible for assisting it in carrying out its tasks, in assessing the quality of internal control and ensuring the consistency of the systems for identifying, measuring, monitoring, and controlling risks, met seven times during 2022. Fulfilling these commitments requires managers and all employees to abide by shared ethical rules of conduct.
Ethical
Orabank is committed to a culture of ethics, deontology, and integrity.
The Group has communicated to all its employees the principles set out in its Code of Ethics. This Code establishes the standards of professionalism and integrity required for the Bank’s operations. It covers compliance with applicable laws, professional secrecy, protection of confidential information, conflicts of interest, business practices and customer behavior, corruption, and strict adherence to stated principles to eliminate the risk of illegal practices.
Orabank is committed to implementing anti-corruption and transparency policies on the company’s influence and accountability mechanisms. As commercial banks, our banks are exposed to the risk of corruption, money laundering, and financing of terrorism. Orabank supports its teams in adopting a culture based on integrity and fighting against practices that are not tolerated by the banking group.
The Code of Ethics covers the prevention of corruption and money laundering and an ethical charter on the prevention of corruption. Since 2012, anti-money laundering measures have been implemented, such as real-time monitoring of blacklists when a customer is contacted or when banking transactions are taking place. We are developing an AML/KYC (Anti-Money Laundering Compliance/Know Your Customer) customer profile analysis system.
At-Risk Employees Subject to International Anti-Corruption Testing
78%
Employees trained in risk class
39%
At Orabank, as part of daily risk management, we have made a commitment to dedicate significant resources in order to develop a risk management culture and ensure that all risks are identified, measured, assessed, managed, and monitored in an effective manner.
Risk Management
Orabank is committed to continuously improving its system for identifying, assessing, monitoring, controlling and managing the risks associated with its activities. Since 2015, our growth model has undergone a major transformation and the Orabank Group integrates the management standards of international banks. One of our core missions is to maintain a strong risk management system that continuously supports the growth of Orabank Group.
Thus, the governance structure of the risk management function within the Orabank Group ensures effective participation of the Board of Directors and the executive through the supervision of the control functions and the existence of a real risk management environment. This allows the supervision and management of all risks taken on the activities of entities such as credit risks, operational risks, market risks, strategic risk, and social and environmental risks.
The Environmental and Social Risk Management System (SYMRES), set up by the Orabank Group, is used in the provision of financing and aims to identify potential societal (social and environmental) risks related to any new investment project submitted to the bank.
In addition, the past two years have seen the continued implementation of the roadmap for the continuous development and implementation of automated risk management tools and the strengthening of the governance framework. Risk culture remains at the heart of our activities and permanent support is provided to employees through several training modules on the digital campus, the establishment and effective operation of various internal committees.
SYMRES
The Environmental and Social Risk Management System (SYMRES) is a management system that aims to identify and mitigate potential societal risks associated with any new investment project submitted to the bank. The objective of SYMRES is to prevent the bank from financing projects or activities that would have a significant negative social or environmental impact, which could turn into financial or reputational risk.
During 2021, the existing framework was recast to incorporate the analysis of three key risk categories known as “ESGs”: E for all ENVIRONMENTAL risks, S for SOCIAL risks, and G for GOVERNANCE. Depending on a credit’s lifecycle, 5 steps are key to ESG risk management. These steps are subject to detailed procedures and are an integral part of the credit risk management policy.