Management Board

As at 31 December 2017, the Bank’s Management Board consisted of:

No.NameFunctionDate of appointment
1.Zbigniew JagiełłoPresident of the Management Boardon 8 January 2014, reappointed President of the Management Board of PKO Bank Polski S A for the previous joint term of the Management Board. On 14 June 2017, he was reappointed President of the Management Board of PKO Bank Polski S A for the current joint term of the Management Board, which commenced on 2 July 2017.
2.Rafał AntczakVice-President of the Management Boardon 14 June 2017, he was appointed Vice-President of the Management Board of PKO Bank Polski S A for the current joint term of the Management Board, which commenced on 2 July 2017.
3.Maks KraczkowskiVice-President of the Management Boardon 30 June 2016, reappointed Vice-President of the Management Board of PKO Bank Polski S A for the previous joint term of the Management Board, with effect from 4 July 2016. On 14 June 2017, he was reappointed Vice-President of the Management Board of PKO Bank Polski S A for the current joint term of the Management Board, which commenced on 2 July 2017.
4.Mieczysław KrólVice-President of the Management Boardon 2 June 2016, appointed Vice-President of the Management Board of PKO Bank Polski S A for the previous joint term of the Management Board, with effect from 6 June 2016. On 14 June 2017, he was reappointed Vice President of the Management Board of PKO Bank Polski S A for the current joint term of the Management Board, which commenced on 2 July 2017.
5.Adam MarciniakVice-President of the Management Boardon 21 September 2017, appointed (with effect from 1 October 2017) Vice-President of the Management Board of PKO Bank Polski SA for the current joint term of the Management Board, which commenced on 2 July 2017.
6.Piotr MazurVice-President of the Management Boardon 8 J anuary 2014, reappointed Vice-President of the Management Board of PKO Bank Polski S A for the previous joint term of the Management Board. On 14 June 2017, he was reappointed Vice-President of the Management Board of PKO Bank Polski S A for the current joint term of the Management Board, which commenced on 2 July 2017.
7.Jakub PapierskiVice-President of the Management Boardon 8 January 2014, reappointed to the position of Vice-President of the Management Board of PKO Bank Polski S A for the previous joint term of the Management Board. On 14 June 2017, he was appointed to Vice-President of the Management Board of PKO Bank Polski S A for the current joint term of the Management Board, which commenced on 2 J uly 2017.
8.Jan Emeryk RościszewskiVice-President of the Management Boardon 14 July 2016, appointed Vice-President of the Management Board of PKO Bank Polski S A for the previous joint term of the Management Board, with effect from 18 July 2016. On 14 June 2017, he was reappointed Vice President of the Management Board of PKO Bank Polski S A for the current joint term of the Management Board, which commenced on 2 July 2017.

 

On 9 August 2017, Mr Janusz Derda resigned from the Management Board with effect from 9 August 2017, close of business.

On 21 December 2017, Mr Bartosz Drabikowski was dismissed from the Management Board with effect from 21 December 2017 based on a Supervisory Board resolution.

On 21 December 2017, the Supervisory Board appointed Mr Rafał Kozłowski Vice-President of the Management Board with effect from 1 January 2018, for the current joint term, which started on 2 July 2017.

In accordance with § 19 sections 1 and 2 of the Articles of Association of PKO Bank Polski SA, Members of the Management Board shall be appointed by the Supervisory Board each for a joint three-year term of office.

The Management Board consists of 3 to 9 members. Appointing two members of the Management Board, including the President of the Management Board, requires the consent of the Polish Financial Supervision Authority. As at 31 December 2017, the Management Board consisted of 8 persons. The current term of office of the Management Board started on 2 July 2017.

Composition of the Management Board of PKO Bank Polski SA as at 31 December 2017

Zbigniew Jagiełło – President of the Management Board
 Member of the Management Board since 1 October 2009.

On 14 June 2017, he was re-appointed to the Management Board for the current term of office.		President of the Management Board of PKO Bank Polski SA since October 2009, appointed for subsequent terms of office in 2011, 2014 and 2017. Before that, for almost 9 years he was  President of the Management Board of Pioneer Pekao TFI SA. Within the global structure of Pioneer Investments he was also responsible for distribution in the CEE region. In the second half of the 1990s, as Vice President of the Management, he co-participated in the process of establishing PKO/Credit Suisse TFI SA.

In his twenty years of working in the financial markets he was responsible, among other things for:
  • successfully steering PKO Bank Polski SA through a critical period of turmoil in the international financial markets, while strengthening the Bank’s position as leader in terms of assets, equity and earnings in Poland and the CEE region;
  • development and implementation of the PKO Bank Polski SA’s strategy for the years 2010–2012 and 2013–2015, which resulted in a significant increase in assets and strong business efficiency gains as well as in increased interest in the company among domestic and international investors;
  • adjustment of PKO Bank Polski SA to the requirements of the ever more competitive financial market through the increased attractiveness of its product offer and quality of its customer service;
  • refocusing of the PKO Bank Polski SA Group’s operational model toward its core activity of providing financial services.
He is actively involved in the development and promotion of high standards of operations of the financial market in Poland. He is a member of the Council of the Polish Bank Association and of the prestigious Institute International D’Etudes Bancaires, which brings together the international banking community. His previous functions included, among other things, that of Chairman of the Chamber of Fund and Asset Management.

He graduated from the Wrocław Technical University’s Faculty of Computer Science and Management. He also completed Postgraduate Management Studies at the Gdańsk Foundation for Management Development and the University of Gdańsk, with an Executive MBA certified by the Rotterdam School of Management, Erasmus University.

He was awarded the Officer’s Cross of the Order of Polonia Restituta by the President of the Republic of Poland, and the Social Solidarity Medal for promoting the idea of corporate social responsibility. He was Chairman of the Programme Council of the PKO Bank Polski’s Foundation that was established on his initiative, in 2010.

Recipient of several awards and titles. Chosen as the 2011 CEO of the Year by Parkiet. Was awarded the Wektor 2011 prize granted by the Polish Employers’ Chapter, and the Golden Banker prize in the Personality of the Year 2011 category. He was also a recipient of the Manager of the Year 2011 and 2014 awards in a competition organized by Gazeta Bankowa. In 2012, 2014 and 2015, Bloomberg Businessweek Polska singled him out as one of the Top 20 Managers in the Polish Economy. In 2013, he was honoured by Bank – financial monthly – with the title of  “Innovator of the Banking Sector 2012.” He also received the special award of “Man of the Year 2013” from Brief monthly and “Visionary 2013” from Dziennik Gazeta Prawna. In 2014, he received an honourable mention from Gazeta Finansowa as one of “25 Most Valuable Managers in the World of Finance.” In 2015, he received a medal from the Polish Chamber of Commerce (KIG) for supporting the development of economic self-government and entrepreneurship, and he was awarded an eDucat statuette by the Foundation for the Development of Non-cash Payments for his vision of the development of non-cash payments and the effective building of a coalition for the mobile payment standard. The industry service Mediarun.com recognized him as the most promarketing president, and the chancellery of Responsible Business Awards awarded him the title of Outstanding CEO Philanthropist. In 2017, he was awarded the Lesław A. Paga Prize for his contribution to the development of the Polish economy and promotion of high standards of operations of the financial market in Poland.
Other functions:Chair of the Assets and Liabilities Management Committee
Chair of the Transformation CommitteeChair of the IT Security Committee
Chair of the Risk Committee
Chair of the Strategy Committee

Rafał Antczak – Vice-President of the Management Board of the Bank in charge of the Enterprise Banking, Strategy and Analyses Area
 On 14 June 2017, he was appointed to the Management Board for the current term of office.Economist and manager with more than 20 years of experience in international and domestic projects for companies in the financial and real economy sectors, governments and research institutions.

He graduated from the Faculty of Economic Sciences at the University of Warsaw and a Comprehensive Course in Market Economics at the Joint Vienna Institute (1997). From October 2008 to January 2017, he was a Member of the Management Board of Deloitte Consulting S.A., responsible, among other things, for research, micro and macroeconomic projections, strategic and business consulting. From 2006 to 2008, he was Managing Director and Chief Economist of the PZU Group and Member of the Supervisory Boards of PZU Asset Management, PZU-Ukraina, PZU-Ukraina Ubezpieczenia na Życie and UFG. In 2006–2008, active lecturer at the Faculty of Management and the MBA Programme of the University of Warsaw. In 1994–2006, economist with the Centre for Social and Economic Research CASE Science Foundation. Author of many publications on economics and market research.
Other functions:Member of the Strategy Committee
Maks Kraczkowski – Vice-President of the Management Board of the Bank in charge of the International and Transaction Banking, and Cooperation with Local Government Authorities and Government Agencies
 Member of the Management Board since 4 July 2016.

On 14 June 2017, he was re-appointed to the Management Board for the current term of office.		He graduated from the University of Warsaw’s Faculty of Law and Administration. A member of the Polish Parliament for the 5th, 6th, 7th and 8th terms of office: since 2015 – Deputy Chairman of the Commission of Economy and Development of the Polish Parliament, in 2005–2007 – Chairman of the Commission of Economy of the Polish Parliament, as well as: Member of the Legislative Commission of the Polish Parliament, and Chairman of the Standing Sub-Committee of the Constitutional Tribunal.

He has many years’ experience in establishing laws and knowledge of business matters in Poland and abroad.

As an MP for four terms of office in the Polish Parliament, in his activities he has focused on economic and financial market matters.
Other functions:Deputy Chair of the Bank’s Loan Committee
Member of the Strategy Committee
Mieczysław Król – Vice-President of the Management Board of the Bank in charge of Bancassurance as well as the Legal and Compliance area
 Member of the Management Board since 6 June 2016.

On 14 June 2017, he was re-appointed to the Management Board for the current term of office.		Banker, finance specialist, manager, holder of an MA in economics, a graduate of the Warsaw School of Economics (the Faculty of Finance and Statistics) and the International School of Management. He completed his post-graduate studies at the Warsaw School of Economics (Collegium of Management and Finance).

He has been working in banking and finance for over thirty years. He has worked, among other things, at the National Bank of Poland. He was a director at PKO Bank Polski SA for many years. In 2006–2010, he was the Director of the Audit Department at PKO Bank Polski SA, then, in 2011–2015, he was Director of the Audit Department at Bank Ochrony Środowiska SA in Warsaw. In 2006–2007, he was a member of the Supervisory Board of the Financial and Banking Centre in Warsaw. In 2007, he was Chairman of the Supervisory Board of Zakłady Chemiczne Organika Sarzyna in Nowa Sarzyna and of the Monument Preservation and Conservation Workshops. He has lectured at the Academy of Business Activity in Warsaw. He has authored many articles about banking and economics.

In 1998–2002, he was a councillor for the City of  Warsaw. He was Deputy Chairman of the Budget Committee and a member of the Audit Committee. In 2002–2014, he was a councillor on the Warsaw City Council where he was, among other things, Deputy Chairman of the Budget and Finance Commission and a member of the Health Commission. As part of his social activities, he managed the Social Council of the Father Jerzy Popiełuszko Hospital in Bielany.
Other functions:Member of the Strategy Committee
Adam Marciniak – Vice-President of the Management Board of the Bank in charge of the IT and Service Area
 On 21 September 2017, he was appointed to the Management Board for the current term of office, as of 1 October 2017. He has worked for PKO Bank Polski SA since 2011. As Director of the Application Development and Maintenance Division, he is responsible for the management, development and maintenance of the IT systems. He successfully reorganized operations of the IT structures, focussing on the efficiency of processes, cost optimization and dynamic business growth.

From 2011 to 2014, as the Vice-President of Inteligo Financial Services SA, he was also responsible for the development of IT systems, the reorganisation, optimisation and integration of the company into the Bank’s structures. Previously, he worked for Pekao SA as the Operating Director of the Electronic Channels Development and Management Office and the Director of the IT Department in the Central Brokerage House of Pekao SA.

He is a member of the Executive Committee of the Electronic Banking Council of the Polish Bank Association, the IT Architecture Council of the Government’s Digitization Committee and an expert in the Task Force for the evaluation of IT projects of the Government’s Digitization Committee.

He is a member of the supervisory boards of PKO Bank Hipoteczny SA and PKO BP Finat Sp. z o.o. He has won numerous industry awards, including the title of the Ambassador for Electronic Economy at the 10th Congress of Electronic Economy, the Nicholas Copernicus Medal awarded by the Polish Bank Association for special merits in the construction and development of the banking sector and of the special title of “Banking Market Innovator 2015” in the Top 50 Banks in Poland ranking.

He graduated from the Military Technical Academy in Warsaw and the Warsaw University of Technology.
Other functions: Chair of the IT Architecture Committee
Deputy Chair of the IT Security Committee
Deputy Chair of the Transformation Committee
Member of the Strategy Committee
First Deputy Chair of the Operational Risk Committee
Member of the Risk Committee
Member of the Data Quality Committee
Piotr Mazur – Vice-President of the Management Board of PKO Bank Polski in charge of the Risk Management Area
 Member of the Management Board since 8 January 2013.

On 14 June 2017, he was re-appointed to the Management Board for the current term of office.		 He is Vice-President of the Management Board of PKO Bank Polski SA in charge of the Risk Management Area, upon the approval of the Polish Financial Supervision Authority on 8 January 2013. He graduated from the Faculty of Organization and Management at the Academy of Economics in Wrocław. He has over 20 years’ experience in banking; since 2000, he has been working as manager, mainly in charge of risk, restructuring and loans. He has worked for international financial groups operating in Europe, the USA and South America. He is a member of supervisory boards, creditors’ committees, a member and chairman of key risk management committees. He participated in the development of the strategy of Bank Zachodni WBK SA, was directly responsible for risk management, the optimization of debt collection and restructuring processes, and cooperated with the regulators in Poland and abroad.

After graduating in 1991, he began his professional career in Bank BPH SA, in the loan area. In 1992, he started work at Bank Zachodni SA, and then, after the merger with Wielkopolski Bank Kredytowy SA he worked for BZ WBK SA. In the years 1992–2000 he was employed In the Department of Capital Investments, and then in the years 2000–2005 he was the Director of the Department of Credit Quality Control. In the years 2005–2008 he was the Director of Business Intelligence and Risk Management Area, and in the years 2008–2010 – the Deputy Chief Risk Officer. Since January 2011 he was the Chief Credit Officer and since March 2012 also the Deputy Chief Risk Officer. Moreover, he was the Chairman of the Credit Committee at BZ WBK SA, Deputy Chairman of the Credit Risk Forum, and Deputy Chairman of the Risk Model Forum.
Other functions: Chair of the Bank’s Loan Committee
Chair of the Operational Risk Committee
Deputy Chair of the Risk Committee
First Deputy Chair of the Assets and Liabilities Management Committee
Member of the IT Security Committee
Member of the Strategy Committee
Chair of the Data Quality Committee
Deputy Chair of the Transformation Committee 
Jakub Papierski – Vice-President of the Management Board of the Bank in charge of the Corporate and Investment Banking Area
 Member of the Management Board since 22 March 2010.

On 14 June 2017, he was re-appointed to the Management Board for the current term of office.		Graduated from the Warsaw Scholl of Economics. Has the Chartered Financial Analyst (CFA) licence.

He started his professional career in 1993 in the Pro-Invest International consulting company. From 1995 to 1996, he worked for ProCapital Brokerage House and subsequently for Creditanstalt Investment Bank. In March 1996, he started work for Deutsche Morgan Grenfell/Deutsche Bank Research, where he was responsible for the banking sector in Central and Eastern Europe.

From November 2001 to September 2003, he worked for Bank Pekao SA as Executive Director of the Financial Division, directly supervising the financial and fiscal policy of the bank, management information systems, as well as the treasury and management of investment portfolios; moreover, he was a member of the Assets and Liabilities Management Committee in the Bank. In October 2003, he was appointed President of the Management Board of Centralny Dom Maklerski Pekao SA. In September 2006, he also took up the position of Deputy Chairman of the Supervisory Board of Pioneer Pekao TFI SA. From May 2009, he was acting President of the Management Board of Allianz Bank Polska SA and in October 2009 he became President of the Management Board.

From 2005 to 2009, he was Chairman of the Programme Council of the Capital Market Leader Academy established at the Lesław Paga Foundation and is now a member of the Programme Council.
Other functions: Deputy Chair of the Bank’s Loan Committee
Third Deputy Chair of the Assets and Liabilities Management Committee
Member of the Risk Committee
Member of the Strategy Committee
Member of the Data Quality Committee
Rotating member of the Bank’s Loan Committee in charge of credit risk models
Jan Emeryk Rościszewski – Vice-President of the Management Board of the Bank in charge of the Retail Market Area
 Member of the Management Board since 18 July 2016.

On 14 June 2017, he was re-appointed to the Management Board for the current term of office.		Polish entrepreneur, manager in the insurance industry. In 1988, he graduated from the Faculty of Humanities of the Catholic University of Lublin, with an MA in history. In 1990, he earned a DEA diploma from the Paris Institute of Political Studies (Institut d’Etudes Politiques de Paris). He completed various training courses in finance, insurance and management in France, Great Britain and Poland. In 1996, he qualified as an insurance broker. Since the first half of the 1990s, he has been working for international banking and insurance institutions, among other things for AXA and Azur. In 1990–1991, he worked for AXA Banque and AXA International in France, and in 1991–1993 for Groupe Azur. From 1993 to 1996, he was the Member of the Management Board of TU Azur Ostoja SA and TUnŻ Azur Życie SA. Since 1996 he worked for Paribas. In 1998–2016, he managed – as the President of the Management Board – Towarzystwo Ubezpieczeń na Życie Cardif Polska SA, which is part of the BNP Paribas at present. Simultaneously, in 2001–2016 he held the position of Director General of Cardif Assurance Risques Divers in Poland.

He has held many additional professional positions, such as Chairman of the Supervisory Board of Pocztylion-Arka Pension Fund Company (since 1999), Deputy Chairman of the Supervisory Board of Postal Financial Services Agency SA (2000–2014), member of the Audit Committee of the Polish Insurance Association (2012–2016), member of the Supervisory Board of BBI Development NFI SA (since 2011), deputy Chairman of Bank Pocztowy SA (since 2017).

From 1981 to 1983, he was active in the charity organization of the Primate’s Committee for Help to People Deprived of Liberty. Since 2009 he has been a Knight of Honour and Devotion of the Sovereign Military Order of Malta, whereas since December 2012 he has held the position of hospitaller of the Polish Association of the Sovereign Military Order of Malta. He is a member of the Management Board of the Page of History Foundation (since 2007) and a member of the Warsaw Mountaineering Club, the Polish Heraldic Society, Domus Polonorum. In 2010, he was awarded the Officer’s Cross of the Order of Polonia Restituta for outstanding achievements in the development of the insurance market in Poland. He is an author and co-author of historical books and articles on finance and management.
Other functions: Deputy Chair of the Data Quality Committee
Rotating member of the Bank’s Loan Committee in charge of credit risk models
Member of the Strategy Committee
Member of the Risk Committee

In addition to the aforementioned functions, Members of the Bank’s Management Board were also members of steering committees established within the framework of projects being implemented.

Changes in the composition of the Management Board in 2017

  • On 14 June 2017, the Supervisory Board of PKO Bank Polski SA appointed Mr Rafał Antczak as Vice-President of the Management Board of PKO Bank Polski SA for a joint term of office of the Management Board which began on 2 July 2017.
  • On 9 August 2017, Mr Janusz Derda resigned as a member of the Management Board of PKO Bank Polski SA as of 9 August 2017.
  • On 21 September 2017, the Supervisory Board appointed Mr Adam Marciniak, as of 1 October 2017, as Vice-President of the Management Board of PKO Bank Polski SA for the current joint term of office of the Management Board which began on 2 July 2017.
  • On 21 December 2017, Mr Bartosz Drabikowski was dismissed as a member of the Management Board of PKO Bank Polski by a resolution of the Supervisory Board of 21 December 2017.
  • On 21 December 2017, the Supervisory Board appointed Mr Rafał Kozłowski, as of 1 January 2018, as Vice-President of the Management Board of PKO Bank Polski SA for the current joint term of office of the Management Board which began on 2 July 2017.

Rafał Kozłowski – Vice-President of the Management Board of the Bank in charge of the Finance and Accounting Area
On 21 December 2017, he was appointed to the Management Board for the current term of office, as of 1 January 2018.He has been working for PKO Bank Polski since 2012. He was responsible, among other things, for establishing the mortgage bank. Since the establishment of PKO Bank Hipoteczny, as President of the Management Board, he was responsible for the development of this institution, and under his leadership, PKO Bank Hipoteczny soon became the leader among the largest mortgage banks in Poland. Before long, under his management, the bank became the largest issuer of mortgage bonds on the domestic market and conducted the largest issues of mortgage bonds abroad.

Rafał Kozłowski comes from Łomża. He graduated from the Warsaw School of Economics (majoring in Quantitative Methods and Information Systems), as well as the University of Warsaw and University of Illinois where he completed Executive MBA studies in 2008. Has been working in the banking industry since 1995. He held managerial positions in Powszechny Bank Kredytowy, Bank BPH PBK, Bank Pekao S.A. and PKO Bank Polski. He was also the Finance Director and member of the Management Board in the Corporation of European Pharmaceutical Distributors N.V. in Amsterdam, where he managed the international holding of 160 companies located in Poland, Lithuania and Great Britain.

In the course of his professional career, he participated in the development of strategies and bank budgets, along with monitoring, the preparation of financial analyses and stock exchange reports as well as preparing public contracts and foreign entity acquisition transactions. He is a leading expert in controlling, accounting, reporting, financial risk and mortgage banking.

Principles of the functioning of the Management Board of the Bank

The Management Board makes decisions in the form of resolutions.

Declarations on behalf of the Bank shall be made by:

  • the President of the Management Board acting independently;
  • two members of the Management Board  acting jointly or one member of the Management Board with a proxy;
  • two proxies acting jointly;
  • attorneys acting independently or jointly, within the framework of the power of attorney granted.

Competencies of the Management Board of the Bank

In accordance with § 20 section 1 of the Articles of Association of PKO Bank Polski SA, the competencies of the Management Board include all matters related to managing the affairs of PKO Bank Polski SA that do not fall within the competencies of the General Meeting of Shareholders or the Supervisory Board, in accordance with the provisions of the generally applicable law or provisions of the Articles of Association of PKO Bank Polski SA.

Resolutions of the Management Board are required with respect to all matters exceeding the scope of the Bank’s normal activities. Resolutions of the Management Board will be passed by an absolute majority of votes. In the event of an equal number of votes, the President of the Management Board has the casting vote. The Management Board’s working procedures and matters that require a resolution passed by the Management Board are specified in the Rules of the Management Board. Members of the Management Board participate in managing the activities of the Bank in line with the principles set out in the Rules of the Management Board and the Organizational Rules of the Bank. Members of the Management Board supervise the areas of activities allocated to them, and take decisions on matters of ordinary management within the supervised activity areas.

Committees of the Management Board of the Bank

As at the end of 2017, the following standing committees functioned in the Bank with the participation of Members of the Management Board:

Assets and Liabilities Management Committee of PKO Bank Polski SA
PurposeManaging assets and liabilities by influencing the structure of the balance sheet of PKO Bank Polski SA and its off-balance sheet items in a manner conducive to achieving the optimum financial result.
TasksSupporting the Management Board in the Bank’s following activities:

  • shaping the structure of the Bank’s balance sheet;
  • capital adequacy management;
  • managing profitability, taking into account the specific nature of individual areas of activity and the respective risks;
  • managing financial risk, including market and liquidity risks, business risk, and credit risk (settlement and pre-settlement risk) of the transaction on the wholesale market.
Risk Committee
PurposeSetting strategic directions and tasks in the scope of banking risk in the context of the Bank’s strategy and circumstances arising from the macroeconomic situation and the regulatory environment, analyzing periodic reports related to the banking risks and developing appropriate guidance based thereon, as well as preparing the banking risk management strategy and its periodic review.
Tasks
  • monitoring the integrity, adequacy and effectiveness of the banking risk management system, capital adequacy and allocation of internal capital to individual business lines and implementing the risk management policy pursued as part of the adopted Strategy of the Bank;
  • analysing and evaluating the utilization of strategic risk limits set in the Banking Risk Management Strategy;
  • expressing opinions on periodic risk reports submitted for approval to the Supervisory Board and taking into account information in the reports when issuing opinions.
Loan committee of the Bank
PurposeManagement of credit risk occurring when taking lending decisions or decisions concerning liabilities managed by responsible units of the Bank, as well as management of the risk of occurrence of negative financial or reputation effects as a result of taking incorrect business decisions on the basis of the credit risk models.
Tasks
  • taking decisions in matters relating to the segregation of competencies for lending and selling decisions, management of non-performing loans, industry and customer limits, and securing the debt of PKO Bank Polski SA;
  • taking decisions pertaining to credit risk models;
  • issuing recommendations to the Management Board of PKO Bank Polski SA in matters relating to making decisions about lending transactions and changes in the material terms and conditions of these transactions, customer internal limits, management of non-performing loans, credit risk models, particularly in the field of credit policy parameters, which, due to external regulations, require the approval of the Management Board or the Supervisory Board;
  • issuing opinions concerning applications pertaining to lending transactions, leasing transactions or factoring transactions submitted by the entities of the Bank’s Group, restructuring and debt collection with respect to the customers of KREDOBANK SA and significant credit risk models in the companies of the Bank’s Group.
Operational Risks Committee
PurposeEffective management of operational risk, improving the safety of the Bank’s operating activities.
Tasks
  • determining the directions of operational risk management development;
  • supervising the functioning of operational risk management;
  • coordination of operational risk management;
  • determining measures to be taken in the event of an emergency which exposes the Bank to reputational risk and results in operating losses.
Transformation Committee
Tasks
  • ensuring the effective transformation of the Bank by operational management of the implementation of the Bank’s Strategy and management of the limit of investment outlays for and costs of projects in accordance with the Bank’s accepted development directions;
  • taking decisions pertaining to the implementation of and changes to strategic programmes and projects, as well as decision pertaining to material costs and other operating costs related to current activities;
  • issuing recommendations and guidelines;
  • supervision and monitoring of the implementation of strategic programmes, strategic projects, operational projects and projects carried out within the framework of the replacement portfolio, in particular of the status of works, project budgets, financial and non-financial benefits;
  • initiating activities enhancing the Bank’s effectiveness;
  • managing the annual financial limit for the implementation of projects;
  • resolution of disputes within the area of competencies of the Committee, on lower decision-making levels.
Strategy Committee
PurposeOversight of the strategic planning process and management of the Bank’s strategy.
Tasks
  • managing the activities related to strategy development and implementation;
  • approving the strategy development schedule and the strategy implementation schedule;
  • taking key decisions necessary to ensure the implementation of the strategy, including the implementation of strategic programmes;
  • resolution of potential disputes arising when working on individual strategic programmes.
IT Architecture Committee
PurposeDevelopment of the IT architecture ensuring the implementation of the Bank’s Strategy.
Tasks
  • development of key assumptions of the IT architecture of the Bank (principles);
  • periodic evaluation of the IT architecture functioning in the Bank;
  • development of a target architecture model;
  • initiating activities aimed at implementing the target architecture model.
IT Security Committee
PurposeIncreasing the effectiveness of supervision and control over the IT system safety in PKO Bank Polski SA (SIB).
TasksIssuing recommendations on the SIB safety, in particular related to:

  • coordination and monitoring of work related to the SIB safety;
  • setting the directions of the activities of the Bank with respect to SIB safety;
  • specifying desirable activities, which in the Committee’s opinion should be undertaken in the event of emergency situations which put the Bank’s image at risk and cause operating or financial losses in the area of SIB safety;
  • monitoring the risk related to SIB safety.
Data Quality Committee
PurposeSetting strategic directions of the activities relating to data quality management and data architecture in the Bank in the context of the Data Management System (DMS), oversight of its functioning and assessment of its effectiveness and the activities undertaken by the individual organizational units.
TasksTaking decisions on data management in the Bank, including in particular decisions pertaining to:

  • DMS development directions;
  • recommendations to organizational units of the Head Office, regarding data management activities;
  • detailed data management solutions;
  • assessing the effectiveness of the operations of the DMS, determining priority measures as part of the DMS, and drawing up periodical action plans;
  • allocation of the ownership of data groups;
  • resolution of disputes pertaining to the DMS at the request of the Committee members;
  • approving – in cases justified especially by the need to ensure the continuity of the Bank’s operations – deviations from data quality criteria and rules as well as data quality solutions standards.

In addition to the aforementioned functions, Members of the Management Board were also members of non-standing committees, including steering committees established within the framework of projects being implemented.