Banco Votorantim’s governance is divided between the two shareholders, with a model under continuous improvement to achieve more robustness and transparency, ensuring agility in decision-making processes — a strong characteristic of Banco Votorantim.
Governance is organized in two complementary levels of authority: the first is composed of the Board of Directors and its Advisory Committees (Finance, Products and Marketing, and Compensation and Human Resources), and involves the shareholders; the second is composed of the Executive Committee and its Operational Committees involving the executive leaders of Banco Votorantim.
In addition, Banco Votorantim counts on a Fiscal Council, which is an independent body created to supervise the administrative management acts of Banco Votorantim, and an Audit Committee, which provides advice to the Board of Directors.
As part of its Change Agenda, in 2012 Banco Votorantim progressed in the integration of its corporate areas – Legal, Risk, Finance, HR, Operations and Technology, all of which worked separately in the past. With those changes, Banco Votorantim started operating in an integrated way, with two business units (Wholesale and Consumer Finance) served by corporate areas, resulting in efficiency and governance gains.
In 2013 started to operate two new committees: Investment Bank Committee, which aims to discuss capital markets operations, and the Money Laundering Prevention Committee, which tracks the enforcement of measures and the development of internal rules necessary for the prevention of money laundering and terrorist financing.
Updated on May 15th, 2013