Sberbank’s compliance management system awarded certificate of compliance with international standards
December 30, 2016, Moscow – Sberbank is now the holder of an ICA certificate for ISO 19600:2014 “Compliance management systems”, which confirms that the bank’s compliance management system in risk areas associated with Anti-money laundering (AML)/Counter terrorist financing (CTF), Gifts & hospitality/anti-corruption, Insider trading and conflicts of interest conforms with international standards. The decision to award the certificate was made by the Committee on Certification under an independent body established to assess compliance, which is a leading organisation in the field of compliance management. The certification audit was performed by ICS LLC, the exclusive partner of International Compliance Association (ICA) for assessing conformity of compliance management systems in Russia and the CIS.
The certificate covers a three-year cycle and involves holding supervisory audits during the second and third years after the primary certificate has been received.
“The introduction of a compliance management system means that there is a high level of responsibility and professionalism within the company,” commented Bella Zlatkis, Deputy Chairman of the Executive Board of Sberbank. “This is a guarantee that laws and regulations will be adhered to and that business will be conducted honestly. These things are key to the long-term success of the company and are also instrumental in achieving this success.”
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Sberbank is Russia’s largest bank and a leading global financial institution. Sberbank holds almost one third of aggregate Russian banking sector assets, it is the key lender to the national economy and the biggest deposit taker in Russia. The Central Bank of the Russian Federation is the founder and principal shareholder of Sberbank owning 50% of the Bank's authorized capital plus one voting share, with the remaining 50% held by domestic and international investors. Sberbank has more than 135 million individual customers and more than 4 million corporate clients in 20 countries. Sberbank has the largest distribution network in Russia with almost 17,000 branches, and its international operations include UK, US, CIS, Central and Eastern Europe, India, China, Turkey and other countries.