Financial holding company stakeholders decided to conduct a pilot project of creating a transparent governance system, suitable for replication to holding’s daughter companies. The main goal was to streamline operations in order to increase regional competitiveness and expand the market share.
- Formalize bank’s business processes.
- Get the bank’s governance system ready for successful assessment of authorities in order to certify ISO 9001:2000 conformity.
- Launch implementation of a balanced scorecard and risk management systems.
- All bank’s processes has been identified and formalized.
- Responsibility and authorities have been assigned.
- Corporate governance structure reorganized to match the new requirements, specified within the project.
- The project is under development.
- Responsibilities of the management are clarified, documented and properly communicated to the responsible executives and managers.
- The project is in the execution stage.