Integrated organisational approach

The Group Chief Financial Officer (CFO) is responsible for finance and risk management at the LLB Group. He is a member of the Group Executive Board and head of the Group CFO Division. The latter encompasses the following finance and risk management competences:

• Overall bank management: It ensures transparency at all management levels in order that costs and income can be managed in line with corporate strategy and in an efficient and timely manner. This includes medium-term planning, the annual budgeting process, the Group Management Information System (MIS) and capital management.
• Financial management: It encompasses the preparation of the financial statements in accordance with both local laws and International Financial Reporting Standards (IFRS) as well as reporting and group-wide treasury management.
• Risk management: It is based on risk policy and encompasses the systematic identification, assessment, reporting, management and monitoring of credit risks, market risks, liquidity risks and operational risks as well as asset liability management (ALM).
• Credit management: It implements efficient and effective credit processes as well as timely credit decisions according to valid directives and instructions in a risk-oriented and profit-oriented manner.
• Legal & Compliance: It avoids operational, financial and reputational risk. This requires the systematic monitoring of legal and regulatory changes, providing support for their implementation and carrying out subsequent controls. It deals not only with legal risk, but also compliance risk, such as money laundering and market abuse, and risk related to tax issues (see chapter “Regulatory framework and developments”).