Committees
About us
IFS: Audit committee
Members
  • The Committee is comprised of three independent members of the Board.
Main duties
  • Reviewing our financial statements.
  • Evaluating our internal controls and procedures, and identifying deficiencies.
  • Appointing our external auditors, determining their compensation, retention and oversight, and resolving any disagreement that may arise between management and our external auditors.
  • Evaluating IFS’s compliance with the Board of Director’s internal regulation, as well as with general principles of corporate governance.
  • Informing our board of directors regarding any issues that arise with respect to the quality or integrity of our financial statements, our compliance with legal or regulatory requirements, the performance and independence of the external auditors, or the performance of the internal audit function.
  • Establishing procedures for the reception, retention and treatment of complaints regarding accounting, internal controls or other auditing matters, including the confidential, anonymous submission by our subsidiary’s employees of concerns regarding questionable accounting or auditing matters.
  • Independently engaging its own counsel and any other advisers it deems necessary to fulfill its functions.
  • Establishing policies and procedures to pre-approve audit and permissible non-audit services.
Interbank: Integral risk management committee
Members
  • The Committee is comprised of three members of the board of directors (all of whom are independent directors), the Chief Executive Officer and the Vice-Presidents.
Main duties
  • Approving the policies and organization of the comprehensive risk management system, as well as any amendments to said policies.
  • Defining the risk appetite and level of tolerance that each subsidiary is willing to take in its business and the actions needed to implement the required corrective measures necessary to maintain adequate levels of risk tolerance.
Interbank: Assets and liabilities committee
Members
  • The Committee is comprised of the Chief Executive Officer, the Vice Presidents of Risks, Channel of Distribution, Retail, Operations, Commercial, Finance and Capital Markets and the Manager of Treasury/Position Desk.
Main duties
  • Managing the structure of the company’s financial position considering its profitability and risk targets.
  • Proposing new products or operations that contain components of market risk.
  • Serving as the communication channel with units that generate market risks.
Interbank: Audit committee
Members
  • The Committee is comprised of three members of the Board (an independent director that will be its Chairman). The Chief Executive Officer, the Vice-President of Corporate and Legal Affairs and other executives may also participate therein when invited.
Main duties
  • Monitoring that the accounting and financial reporting processes are appropriate.
  • Defining the criteria for the appointment and hiring of the auditors, both internal and external, as well as to evaluate the performance of their activities.
  • Supervising and keep the Board informed about compliance with internal policies and procedures, the control failures detected, as well as the corrective measures implemented based on the evaluations carried out by the Superintendency of Banking, Insurance and Private Pension Fund Administrators, and the external and internal auditors.
Interseguro: Risk committee
Members
  • The Committee is comprised of three board members and the Chief Executive Officer.
Main duties
  • Defining risk limits for company’s business, approving risk policies and approving required corrective measures necessary to maintain adequate levels of risk tolerance.
Interseguro: Investment committee
Members
  • The Committee is comprised of several members of the board, the Chief Executive Officer, the Vice President of Investments and an external advisor. The risk management unit manager also participates as an advisor.
Main duties
  • Approving the limits of each security or real estate which could be included in the company’s investment portfolio.
Interseguro: Audit committee
Members
  • The Committee is comprised of three Board members who do not fulfil any executive position within the company, being at least one of them an independent director. The Committee sessions can be attended by the CEO, the Audit Manager, the External Auditors and other executives when required.
Main duties
  • Monitoring that the accounting and financial reporting process are appropriate.
  • Assessing the activities performed by External and Internal Auditors.
Interseguro: Compensation committee
Members
  • The Committee is comprised of two board members and the Chief Executive Officer.
Main duties
  • Propose the compensation system and analyze the modification suggestions for the compensation system.
  • Evaluate possible conflict of interest within the compensation system, for which the committee must suggest and define instances to avoid the conflict.
Inteligo Bank: Risk management committee
Members
  • The Committee is comprised of at least two members of the board of directors, one of which must be independent (as defined pursuant to the Bahamian regulation), the Chief Executive Officer, Finance Manager, General Counsel and the Risk Officer.
Main duties
  • Verify compliance with prudent comprehensive risk management by identifying, evaluating, monitoring, controlling and mitigating the risks to which the Bank exposes and ensuring effectiveness and risk control in accordance with established limits.
Inteligo Bank: Assets and liabilities committee
Members
  • The Committee is comprised of at least two board members, one of whom must be independent (as defined pursuant to Bahamian regulations), the Chief Executive Officer, Finance Manager, Legal Manager and the Risk Officer.
Main duties
  • Managing the company’s financial position, considering its profitability and risk targets.
Inteligo Bank: Investment committee
Members
  • The Committee is comprised of one board member, the Chief Executive Officer, the Chief Financial Officer and the Risk Officer.
Main duties
  • Reviewing and approving the strategy of the company’s investment portfolio and approving new investment products.
Inteligo Bank: Audit committee
Members
  • Three (3) directors that do not participate in the daily management of the Bank, one of whom must be independent from the bank's business and the Internal Auditor.
  • The Audit Committee may invite to participate in its meetings the CEO of Headquarters and Branches, other relevant managers, independent experts and others it deems appropriate for the performance of their activities.
Main duties
  • Responsible for the continuous improvement of the internal control and is created to support and complement the Board of Directors in making decisions for its implementation and improvement.
  • Ensuring that the internal control system is duly documented in the policies, processes and procedures, as well as the administration of information and resource management, guaranteeing that they are carried out in accordance with the applicable regulations for the achievement of the Bank's objectives.