Internal commitees | MuganBank

Internal commitees

Risk Management Committee

Chairman of the Committee Alakbarov Shaig
Member of the Committee Hasanov Elmir
Member of the Committee Jalilov Rasul
Member of the Committee Gasimli Etibar
Member of the Committee Goyushov Vusal
Member of the Committee Garashova Sabina
Member of the Committee Gulamov Polad
Member of the Committee Hasanov Shahin

Main responsibilities of the Committee

  • Develop and present to the Supervisory Board the regulations of identifying, assessing and hedging all the risks invloved in the Bank’s business;
  • Identify the risks and risk control methods, and draw up a risk map;
  • Set limits for risk areas (which include simple limits such as counterparty maximum exposure and amount of risk position, and improved limits which are measured by risk assessment methods such as Value at Risk (VaR) and Stress Tests);
  • Make allocation of the funds by the Bank’s assets and liabilities. The allocation decisions are made based on the analysis of liquidity gap (difference between raised funds and allocated funds). The market liquidity risk reflects the probable period of closing the positions, and the VaR method is used to this effect;
  • Approve the lending and financing schemes to ensure efficient use of the Bank’s funds, etc.

Remuneration Committee

Chairman of the Committee Goyushov Urfan
Member of the Committee Hasanov Elmir
Member of the Committee Jalilov Rasul
Member of the Committee Goyushov Vusal
Member of the Committee Valiyev Rustam
Member of the Committee Ismayilov Samir
Member of the Committee Garashova Sabina
Member of the Committee Seyidov Elchin
Member of the Committee Aliyeva Bahar

Main responsibilities of the Committee

  • Ensure that the remuneration policy does not conflict with the Bank’s interest, and avoid any making of profit in the short-term perspective at the cost of the Bank’s taking long-term risks;
  • Develop internal procedures for the implementation of remuneration policy, and ensure that these procedures are consistent with the Bank’s risk management guidelines;
  • Oversee the remuneration process, including the review of the remuneration policy jointly with the Risk Management Committee at least once a year;
  • Make proposals to the Supervisory Board on the amount of remuneration.

Audit Committee

Chairman of the Committee Hasanov Shahin
Member of the Committee Huseynov Gabil
Member of the Committee Mammadzadeh Veis

Main responsibilities of the Committee

  • Oversee the work of the Bank’s External Auditor, including the development and review of the implementation of the annual program of works performed by the External Auditor for the Bank;
  • Review any fraud, improper activity and error in the internal control system or similar issues jointly with the External Auditor and internal audit function;
  • Review any accounting and reporting-related important issues, and assess their impact on the Bank’s financial reports;
  • Review any legal issues that may significantly affect the financial reports;
  • Review the annual financial statements and determine whether they are complete and consistent with the information known to the Committee Members and assess how the financial statements reflect the relevant accounting principles.

ALCO (Asset and Liability Committee)

Chairman of the Committee Jalilov Rasul
Member of the Committee Hasanov Elmir
Member of the Committee Gasimli Etibar
Member of the Committee Goyushov Vusal
Member of the Committee Valiyev Rustam

Main responsibilities of the Committee

  • ­ Ensure the Bank’s profitability, including the effective liquidity management;
  • Subject to market conditions, review the limits for raising of funds, investments and market risks, and if necessary, make proposals on the amendment of asset and liability management policy and regulations as well as the corporate limits set by the Risk Management Committee;
  • Take other measures that ensure effective work of the Treasury, etc.

Credit Committee

Chairman of the Committee Allahverdiyev Shakir
Member of the Committee Hasanov Elmir
Member of the Committee Jalilov Rasul
Member of the Committee Gasimli Etibar
Member of the Committee Ismayilov Samir
Member of the Committee Goyushov Vusal
Member of the Committee Valiyev Rustam

Main responsibilities of the Committee

  • ­ Diversify the loan portfolio by industry, loan type, region, country, currency, customer group and branches, and set the credit decision-making limits;
  • Obtain and analyze the necessary information on the loan portfolio, its structure and borrowers from relevant executive structures;
  • Raise an issue before the Management Board on the amendment of lending regulations;
  • Be responsible for the quality of the loan portfolio, etc.

Information Technologies Committee

Chairman of the Committee Hasanov Elmir
Member of the Committee Garashova Sabina
Member of the Committee Gulamov Polad
Member of the Committee Allahveranov Kamil
Member of the Committee Seyidov Elchin
Member of the Committee Gojali Novruz

Main responsibilities of the Committee

  • ­ Plan and determine the amount of IT products to be purchased;
  • Analyze the necessity, nature and cost of software packages to be purchased, and set up their launch schedule;

  • Develop the overall structure of software, hardware and communications to be used;
  • Analyze the IT functional requirements developed by the Bank’s structural units, verify their eligibility to the Bank’s business plan and assess their effectiveness considering the costs of their implementation;
  • Approve the IT standards for software development, modification, update and maintenance, etc.