Role and organization of Compliance
Dexia has an independent Compliance function which assesses the conformity of internal codes of conduct, policies or internal procedures with legal obligations and best practices applicable to its business.
The Compliance Charter describes the role and domains of the Compliance Function and sets out the governance principles underpinning Dexia’s approach to Compliance. A Compliance Policy lays down the areas covered and their organization. These key documents have been approved by Dexia’s Board of Management and by its Board of Directors.
Compliance is responsible for prosecuting the fight against money laundering and the financing of terrorism, for combating the risk of market abuse and for taking any action designed to ensure the integrity of the Bank towards its customers and markets. In that respect, the Compliance function helps the Boards of Management to identify, evaluate and to mount an adequate response to such risks.
The Chief Compliance Officer of the Group reports to the Head of Conformity, Legal & Tax, member of the the Executive Committee. If necessary, he has direct access to the Group CEO and to the Chairman of the Audit Committee. The Chief Compliance Officer heads up a network of Compliance Officers who operate in each of the Group’s operational entities and subsidiaries. With his counterparts, the Chief Compliance Officer updates the Group’s internal policies and procedures accordingly to a regulatory watch process. They inform and appraise the management and staff, and monitor that those internal rules are observed in each Dexia entity.
Compliance and integrity
Dexia’s reputation also relies on an honest, open and ethical attitude practiced not only by the companies in the Group but also by all their staff, irrespective of their level.
Dexia promotes a number of essential values in its relationships with staff, customers and external partners.
The rules of good conduct for all Group employees are included in a “Code of Professional Ethics” containing the following principles:
Compliance with statutory and regulatory requirements
Professionalism and the duty of discretion
Reliability and respect towards customers
Loyalty towards the Dexia Group
Mutual respect for people and opinions.