Divisions

Banks’ Relations & Communications Division – Manage and communicate

The Division is responsible for maintaining the relationship of the Fund with its stakeholders and the credit institutions it participates in, coordinating the relations of the HFSF officials with the press and the media and shaping the shareholder’s view. It is responsible for the Banks’ strategy decisions and monitoring Banks’ strategic initiatives.

It is supported by the Relationship Managers who have the end-to-end responsibility to collect approvals on shareholder view for each Bank. Relationship Managers support, together with the Fund’s functional experts, all proposals and requests for consent to the Fund, and as far as the communication with the Banks is concerned, Relationship Managers are the contact persons and the safeguards for all communication between the Parties as per the Fund’s instructions.

The Chief Relationship Management Officer has a direct reporting line to the Deputy Chief Executive Officer. He/she also acts as Procurement Officer reporting to the Executive Member of the Board of Directors.

Investments & Divestments Division – Support & Advise

The Division is responsible for supporting and advising the decision bodies of the Fund on issues related to the divestment of its holdings, corporate actions and any capital or private transaction of the credit institutions where it participates, including equity raising, principal transactions, banks’ divestments and portfolio sales as well as the investor relations communication.

Compliance and Governance Division – Contribute and evaluate

The Compliance and Governance Division supports HFSF’s management bodies by advising on compliance issues and evaluating the Fund’s adherence to regulatory requirements.

It independently assesses internal compliance activities and procedures to promote transparency and accountability, improve operational efficiency, help to avoid conflicts of interest, and strengthen the internal control system.

Additionally, the Division advises on banks’ proposals and requests for consent for issues under its expertise, indicatively AML, ethics, regulatory compliance and governance.

Legal Division – Advise and protect

The Division is responsible for the legal affairs of the Fund.

It cooperates with the Fund’s Divisions providing legal support regarding the Fund’s activities and operations and participating in commonly formed groups.

The Legal Division contributes to the day-to-day activities, issues related to the Banks’ operations, Board material and corporate actions.

It closely cooperates with Compliance & Governance, Procurement and HR on legislative and regulatory matters and actively participates in investment and divestment transactions and related communication matters with the respective divisions.

It is also responsible for and oversees all contractual arrangements with third parties and litigations. The Division advises the Board of Directors and the executive members of the Board.

Risk Management & Control Division – Assess and control

The Risk Management & Control Division is responsible for identifying, assessing, reporting and advising on HFSF’s material internal risks and controls; implementing risk management policies; facilitating the regular Operational Risk Control Self-Assessment; recommending appropriate mitigation actions and overseeing their implementation; developing the HFSF’s ESG & Sustainability framework and preparing the relevant reports. The Division also supports Relationship Managers by advising on banks’ issues under its expertise, indicatively asset quality, risk-adjusted performance management, prudential supervision, risk governance, banks’ internal governance, and ESG framework. The Chief Risk Officer has a direct reporting line to the CEO and a second reporting line to the BoD for raising concerns and reporting irregularities.

The Division is also responsible for monitoring and evaluating the Greek systemic banks’ Corporate Governance practices and the functioning of their Boards of Directors, and supporting the implementation of recommendations to enhance them in line with international best practices, while advising the Fund’s governing bodies.

Furthermore, it is monitoring and reviewing the implementation of the banks’ ESG practices and sustainability initiatives.

The Division is also actively participating in the Strategy Working Group, which operates under the supervision of the Deputy CEO, jointly headed by the Chief Risk Officer and the Chief Financial Officer of the Fund and works on strategic issues focusing on shareholders’ value creation, related with HFSF shareholdings.

Finance, HR, IT & Operations Division – Financial report and advise

The Division is responsible for i) preparing the Fund’s financial statements, overall financial reporting, budgeting and accounting books, ii) human resources issues regarding hiring, developing, compensating and retaining HFSF employees following the market benchmarks and the relative labour law, iii) IT & operations of the Fund regarding equipment, leasing property, information security, and facilities management like cleaning, and security, iv) supporting Relationship Managers by advising HFSF’s Board representatives on banks’ proposals and requests for consent for issues under its expertise, indicatively capital management plans (in cooperation with the Risk Management & Control division), strategic initiatives, financial performance, human resources management, remuneration and restructuring programs and v) actively participating in the Strategy Working Group which operates under the supervision of the Deputy CEO, is jointly headed by the Chief Financial Officer and the Chief Risk Officer of the Fund and works on strategic issues focusing on shareholders’ value creation, related with HFSF shareholdings.

Internal Audit Division – Assure and consult

The Internal Audit of the HFSF is an independent and objective, assurance and consulting activity designed to add value and improve the organization’s operational effectiveness. It helps the organization accomplish its objectives by:

1. bringing a systematic, disciplined approach to evaluating the effectiveness of risk management, control, and governance processes
2. recommending appropriate measures to improve their efficiency and effectiveness
3. monitoring the implementation of corrective actions.