Following internationally accepted principles of corporate governance, ArmSwissBank's governance system has a range of regulatory checks and balances. With a focus on collective decision-making, we have established specialized committees and project teams covering areas such as audit, credit, investment, assets and liabilities and budgeting. We adhere to the following key principles of good governance, which are also reflected in our charter and various board-approved documents:
These principles have been reflected in the charter and number of documents approved by the Board.
Our Customer Policy governs how we work with our clients and meet their diverse requirements. The Policy states that we must provide customers with personalized services that meet international banking standards, and that we should regularly offer them new opportunities for collaboration. The application of “Know Your Customer” rules – as well as the allocation of a personal manager to each client – put clarity, trust and respect at the heart of everything we do.
Discretion and confidentiality are fundamental to everything we do, ensuring we earn our clients' trust and loyalty. We guarantee that our clients' data is processed properly, held in the strictest confidence and disclosed only when required by Armenian law.
ArmSwissBank's Risk Management policy reflects our strategic goals and is designed to effectively manage our own and our customers' risk. The Risk Management process is preventative in nature - predicting and, if possible, avoiding or minimizing risks rather than dealing with their consequences. Risk analysis is fundamental to our strategic planning, as well as our investments appraisal process. For that reason we have a separate risk management division, continuously evaluating risk in our operations, supervising risk-bearing transactions and monitoring the reliability of internal procedures.
Social and environmental risk management is one of the most important directions of the Bank's risk management, which is implemented in the Bank through methodical, modern tools, applying internal legal acts in line with the international best practice and improving knowledge and experience of employees in this field. In the scope of social and environmental risk management regularly is carried out problem analysis, tool selection and risk control.
Social and Environmental risk management guide
Our Investment Policy underpins the professional management of our customers' and our own assets, with the aim of achieving maximum returns. The Policy provides rigorous guidance on investing in international and local markets according to our long-term and short-term goals.
Our Lending Policy sets out the fundamental principles of providing loans and other financial products to key categories of borrowers. It describes the process of granting and supervising loans and outlines the principles of credit portfolio evaluation.
Our relationship with our employees is founded on co-operation and mutual respect, as well as the strict enforcement of obligations on both sides. All ArmSwissBank employees have frequent opportunities to develop their professional expertise and we strive to foster a positive working environment.
ArmSwissBank's rigorous Accounting Policy ensures complete and accurate information on our financial performance, as well as outlines the principles of asset supervision and the utilization of financial resources.
Our Information Technology policy safeguards the credibility and security of the digital information we store and process while ensuring optimal performance of our networking and email systems. It also contains guidance on the development of automated intrabank and interbank transactions and international financial systems.
In accordance with our development plan for 2014-2016, no dividend payments have been stipulated from the anticipated profit for that period.
Performance evaluation of ArmSwissBank CJSC's Executive Body - i.e. the Executive Director - is carried out by the Board on the basis of our annual results. The evaluation process takes into account financial and strategic achievements throughout the year in the context of our long-term mission and goals.
