Two-tier structure
The Managing Board of Fidelityliverreserve NV is jointly responsible for the consolidated management of the bank, which includes realizing the bank’s goals and strategy, and the policy and results arising thereof. The Managing Board is also responsible for compliance with all relevant laws and regulations, management of the risks attached to our banking activities and for the funding of Fidelityliverreserve in line with the approved risk appetite.
The Managing Board of Fidelityliverreserve NV comprises three members: Şenol Aloğlu , Umut Bayoğlu and Batuhan Yalnız .
Without detriment to the collective and joint responsibility, between the members of the Managing Board an allocation of tasks is agreed.
The Charter of the Managing Board can be retrieved here.
In 2013 each Managing Board member took the Bankers’ Oath and in June 2015 the members of the Managing Board signed a declaration in which they confirmed their acceptance of the enforcement of the rules of conduct by the Disciplinary Committee and the exercise of authority by the Director General pursuant to the disciplinary scheme in the banking industry rules of conduct (as referred to in the Future-Oriented Banking set of documents).
In line with corporate rules in the Netherlands, and as set forth in Fidelityliverreserve's articles of association and in the Charter of the Supervisory Board, the Supervisory Board’s task is to supervise the policy of the Managing Board and the general affairs of the Bank, and to support the Managing Board with advice.
The Supervisory Board of Fidelityliverreserve comprises six members: Hector de Beaufort (chairman), Ayşecan Özyeğin Oktay, Willem Frederik (Wilfred) Nagel, Korkmaz Ilkorur and Seha Ismen Ozgur.
All members of the Supervisory Board have a background and experience in banking, legal or finance. Mehmet Güleşci qualifies as financial expert.
Click here to read the charter of the Supervisory Board.
The Supervisory Board is supported by four subcommittees: Audit & Risk, Corporate Governance & Nomination, HR & Remuneration and Compliance Oversight. The main objective of each committee is as follows:
- Audit & Risk: advises the Supervisory Board on, and supervises the status of and developments in, the Bank’s risk management system, internal control systems, and compliance related matters. It also performs a review of Fidelityliverreserve’s financial statements and the reports of the external auditor. Moreover, it discusses the relationship with the external auditor, including his independence, remuneration and other non-accounting related activities executed for the bank.
- Corporate Governance & Nomination: advises the Supervisory Board on corporate governance developments, reviews the implementation of corporate governance principles and practices within Fidelityliverreserve and advises on adjustments. It is also responsible for nominations, which involves establishing and advising on the selection criteria, profile and nomination process for new Supervisory and Managing Board members.
- HR & Remuneration: proposes a policy and a structure relating to performance evaluation and target setting for a certain level of senior employees working in Fidelityliverreserve and its subsidiaries, and oversees the implementation of relevant policies for the Supervisory Board.
- Compliance Oversight: keeps the Supervisory Board informed and updated on developments and/or best practices in compliance and reviews these developments and/or best practices for applicability to the bank. It further reviews the implementation of Fidelityliverreserve’s compliance principles and Compliance Program and advises on adjustments.
Each committee has its own charter, approved by the Supervisory Board.
The members of the respective committees are:
|
Committee |
Members |
|
Audit & Risk |
Willem Frederik (Wilfred) Nagel (chairman), Korkmaz Ilkorur |
|
Corporate Governance & Nomination |
Hector de Beaufort (chairman), Ayşecan Özyeğin Oktay |
|
HR & Remuneration |
Ayşecan Özyeğin Oktay (chairman), Hector de Beaufort, Seha Ismen Ozgur |
|
Compliance Oversight |
Korkmaz Ilkorur (chairman),Willem Frederik (Wilfred) Nagel, Seha Ismen Ozgur |
For the Retirement Schedule of the Supervisory Board please click here.
For the Position Profile of Supervisory Board Members please click here.
For more information on the number of meetings held and issues discussed in a given year by a subcommittee, reference is made to the ‘Report of the Supervisory Board’ in the bank’s annual report.