Committees

Board of Directors Committees

Audit Committee analyzes and develops recommendations to the Board in respect of important financial and business issues, as well as monitors the accuracy and completeness of the Bank’s financial reports.

Committee members:
Tam Basunia – Chairman, independent director;
Paul Ostling – member, independent director;
Maxim Litvinov – non-voting member*, non-executive director

* In order to ensure the Committee’s independence, only the independent directors have the voting power.

Regulations on the Audit Committee.

Nominations and Remuneration Committee ensures personal awareness of the Board members of the Bank’s HR policy and supports their involvement in the monitoring of the HR policy implementation.

Committee members:
Paul Ostling – Chairman, independent director;
Tam Basunia – member, independent director;
Maxim Litvinov – non-voting member*, non-executive director
Wilhelm Nüse – non-voting member*, non-executive director, representing Commerzbank Auslandsbanken Holding AG;
Ilkka Salonen – non-voting member*, non-executive director, representing EBRD.

* In order to ensure the Committee’s independence, only the independent directors have the voting power.

Regulations on the Nominations and Remunerations Committee.

Strategy Committee assesses PSB strategic development concepts, programs and plans, monitors implementation of the Bank’s development strategy based on key indicators and proposals for strategy amendments with a view to improve efficiency of PSB operations, taking into account trends in the global capital markets, results of PSB operations and situation in the Russian banking sector.

Committee members:
Maxim Litvinov – Chairman, non-executive director;
Alexey Ananiev – member, Chairman of the Board of Directors;
Alexander Levkovskiy – member, PSB President (CEO);
Vladislav Zabelin – member, non-executive director;
Wilhelm Nüse – member, non-executive director, representing Commerzbank Auslandsbanken Holding AG;
Ilkka Salonen – member, non-executive director, representing EBRD.
Alexandra Volchenko – member, Management Board member;
Artem Konstandian –  member, Management Board member.

 Regulations on the Strategy Committee.

Bank Committees

Credit Committee establishes the types of standard lending products the Bank can offer and the terms of their provision, determines credit risk limits by borrower (according to a borrower classification) and by PSB branch, approves loans, allocates Banks credit facilities and votes on restructuring schemes for problem loans.

Asset and Liability Committee (ALCO) monitors liquidity management and PSB compliance with the prescribed liquidity ratios, approves policies and practices relating to risk, which ensure an adequate and a controllable (on a weekly basis) level of market risk, liquidity and capital adequacy.

Problem Assets Committee is responsible for the prevention and aversion of material losses, and the minimization of losses and risks arising from PSB’s banking operations.

Tariff Committee supports the implementation of a unified tariff policy in the Bank. 

Budget Committee manages PSB’s budget on day-to-day basis, supports subdivisions with budget planning.

Public Sector Finance Committee resolves on financing issues (lending, issue of securities) to federal and local authorities.

Retail Risk Committee resolves on current and prospective risk management issues in Retail Business.

Product and Innovation Committee oversees new product development and introduction to the market, phase-out of existing products, and adoption of innovative practices in banking product development.