Board of Directors
The Board of Directors is appointed by the shareholders at the Annual General Meeting. The Board currently consists of six members.
All Board members are appointed by the shareholders at the Annual General Meeting (AGM) for a term of one year, until the end of the next AGM. The Board of Directors currently consists of six members. There are no employee representatives on the Board.
The Board has ten ordinary meetings per year and the Chairman organises and directs the Board’s work. Members of management and specialists attend as required to provide the Board with information, or if requested by the Board.
Responsibility and accountability for the Board
The Board has adopted rules that regulate the role it plays as well as specific instructions for the Board Committees. The Board establishes financial goals and strategies, appoints, dismisses and evaluates the Chief Executive Officer, ensures that there are effective systems for monitoring and control of accounting, cash management and other activities, and that laws and regulations are followed and ensure an open and proper disclosure.
The overall responsibility of the Board cannot be delegated. However, the Board Committees monitors, prepares and evaluates issues in their respective areas for decision by the Board.
Board composition and competence
The Board members have broad and extensive experience in the banking and finance sector and the majority of the members have held senior positions in the industry in countries such as Sweden and the United Kingdom. To ensure the Board’s expertise and composition, the members undergo an annual evaluation in accordance with the applicable regulations and at each new appointment, an internal suitability assessment of the nominated member is performed in order to ensure that he / she is suitable for the role and has the necessary qualifications. A separate, external, assessment is also done by the Swedish FSA.