Units & Divisions

The Fund’s Divisions and Units:

Investment & Strategy Division – Support and advise

The Investment & Strategy is responsible for supporting and advising the Fund’s governing bodies on issues related to Corporate actions and transactions connected to the credit institutions that the fund participates in, including principal transactions, bank divestments and portfolio sales, the business/strategy decisions and the monitoring of Banks’ key strategic initiatives; as well as the investor relations communication plans.

Risk Management & NPL Resolution Division – Monitor and evaluate

The Risk Management & NPL Resolution is responsible for monitoring, assessing, reporting, and advising the Fund’s governing bodies on issues regarding the Banks’ Risk and Capital & NPL management frameworks as well as their risk and internal governance structures.  The Division has also responsibility of the identification and assessment of internal risks borne by HFSF, recommend appropriate mitigation actions to HFSF’s governing bodies and oversee the implementation of the decided mitigation or corrective actions.

Operations & Procurement Unit – Operate and support

The Operations & Procurement is responsible for the overall functionality and support of the Fund’s various divisions.  More specifically, O&P provides IT governance, infrastructure, and functionality, performs day-to-day operations, procurement of goods and services and contactors management.  In addition, O&P is responsible for designing and applying Information Security policies and procedures.

Human Resources Unit – Grow and develop

The Human Resources is responsible for the hiring, development, compensation, and retention of HFSF’s employees in accordance with the market benchmarks and in compliance with the relative labor law.

Portfolio Management Division – Manage and maintain

The Portfolio Management is responsible for the maintenance of the relationship of the Fund with the credit institutions it participates in, the coordination of the shareholder view. This department ensures that the HFSF’s Representatives communicate the shareholder view and influence the BoD accordingly to deliver HFSF’s long term agenda. HFSF’s Representatives are the Non-Executive Directors that are appointed to the BoD of each Bank and exercise the voting rights in the respective Board Committees on behalf of HFSF. Portfolio Managers are appointed as Observers in the BoD and respective Committees and are the contact person for the implementation of the RFA and all communication between the Parties.

Finance Division – Finance and accounting

The Finance is responsible for the financial statements, reporting, budgeting, and accounting books of the Fund. The Finance Division is also responsible for advising the Executive Committee and the Board of Directors of the Fund on issues related with the capital position and the capital actions of the credit institutions the Fund participates in, including financial structuring. 

The Division also advises the Executive Committee and the Board of Directors on financial, treasury, operational and human resources issues of the credit institutions the Fund participates in. The manpower is comprised by the Chief Financial Officer, Head and officer(s) assigned by the EB according to the Division’s needs. The Chief Finance Officer reports to the CEO.

Corporate Secretary – Organize and prepare

The Corporate Secretary is responsible for preparing the agenda of the meetings of the Executive Committee and the Board of Directors after consultation with the CEO/Chairman, for efficiently administering all internal actions from the convocation of the meetings,  drafting of  the minutes of the Executive Committee and the Board of Directors and the follow -up of the implementation of the decisions.

Secretariat Unit – Implement and coordinate

The Secretariat provides the overall administrative guidance of HFSF. It is responsible for coordinating the exchange of information between divisions, organizing and facilitating meetings, carrying out all day-to-day secretarial and organizational tasks of the Fund, including but not limited to handling correspondence, archiving in physical and digital form, translating documentation and official documents on request and maintaining smooth operations.

Corporate Governance UnitEvaluate and recommend

The Corporate Governance Unit is 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, the CGU is monitoring and reviewing the implementation of the RFA and consent requests, as well as the banks’ ESG practices and sustainability initiatives.

Communications & Public Relations Unit – Communicate and act

The Communications & Public Relations is responsible for the Communications Policy of the Fund with the various stakeholders involved in its activities. These include the government, the banks, the Hellenic Banks Association, the Bank of Greece, the European Institutions, and others. In addition, the Communications Unit handles the relations of HFSF officials with the press and the media asserting that the Fund’s key messages, mission and objectives are presented and stated.

Legal Division – Advise and protect

The Legal Division is responsible for advising on legal matters as requested by the Board of Directors, the Chief Executive Officer or the Fund’s Divisions and Units.

Compliance & DPO Unit – Support and evaluate

The Compliance & DPO advises HFSF’s management bodies on compliance issues according to the regulatory framework pertaining to HFSF’s activities. It also independently evaluates internal compliance activities, according to the HFSF compliance policies, in order to promote transparency and accountability and strengthen the internal
control systems within the operations. This role also advises on data protection issues.

Internal Audit – Assure and consult

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

  1. bringing a systematic, disciplined approach in 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.