The function “Compliance” in Banca UBAE was established in September 2008 and was included in the control system as a second level control function.

From an organizational point of view it is part of the Risk Management and Compliance Department and is coordinated by the Compliance Officer. The function is directly answerable to the General Manager and  reports to the Board of Directors also through the Internal Control Committee.

Starting July 2010 the Compliance sector was also assigned the anti-money laundering function which is endowed with specific tools aimed at monitoring both money laundering and terrorism financing risks.

Since 1 March 2011 a new decentralized organizational structure has been  established that foresees the allocation of compliance and control activities to organizational units especially identified within specific areas, while keeping the responsibility and coordination of the function with the Compliance Officer.

ACTIVITIES CARRIED OUT BY THE FUNCTION COMPLIANCE

The function has access to all activities carried out by the bank at both the head office and the branch, as well as to any information relevant for the execution of their tasks.

The main activities carried out are:

Operational activities
Controlling activities
Consulting, supporting and training activities.