Nordea Mortgage Bank Plc
We are a solvent Finnish mortgage bank and part of the strong European Nordea Group offering financial services. Our company is engaged in the mortgage banking business: a business where covered bonds are issued.
Nordea Mortgage Bank Plc is a wholly-owned Finnish subsidiary of Nordea Bank AB (publ). We manage the housing finance entity of Nordea’s Finnish operations.
Information about the company
Nordea Mortgage Bank Plc
Satamaradankatu 5, FI-00020 NORDEA Domicile: Helsinki.
Business Identity Code: 2743219-6
VAT code: FI27432196
Our operations are supervised by the Finnish Financial Supervisory Authority, address: Snellmaninkatu 6, P.O. Box 103, FI-00101 Helsinki, telephone: 010 831 51, fax: 010 831 5328. The European Central Bank has granted Nordea Mortgage Bank Plc an operating licence on 15 August 2016.
Members of the Board of Directors and their resumés
- Topi Manner, Chairman, member since 2016 (resumé)
- Hanna-Maria Heikkinen, member since 2016 (resumé)
- Riikka Laine-Tolonen, member since 2016 (resumé)
- Ola Littorin, member since 2016 (resumé)
- Nina Luomanen, member since 2016 (resumé)
- Jussi Mekkonen, member since 2016 (resumé)
- Markku Pehkonen, member since 2016 (resumé)
Nordea Mortgage Bank Plc started its operations on 1 October 2016.
Thomas Miller (resumé) is the bank's CEO.
Tomi Ylöstalo acts as the Deputy of the CEO.
Nordea Mortgage Bank Plc (company, credit institution) complies with the requirements set on corporate governance systems in chapter 7, section 1 of the Finnish Act on Credit Institutions.
The company's Board of Directors accepts the risk strategy and other strategic targets and ensures that their compliance is supervised reliably.
The company's risk-taking and risk management systems fulfil the requirements set in chapter 9 of the Finnish Act on Credit Institutions.
Composition and work of the Board
The company complies with the requirements concerning the composition and work of the Board of Directors as set in chapter 7, section 2 of the Finnish Act on Credit Institutions.
The Board of Directors has approved an operating policy for the credit institution in order to advance the diversity of the composition of the Board. Sufficient diversity shall be considered as to education, competence and professional experience of an individual member as well as of the Board as a whole. With regard to the Board as a whole, such aspects as gender, age and the members' countries of origin are to be considered. Sufficient diversity will guarantee that different opinions and experiences will be represented on the Board. The Board has approved equal gender distribution on the Board as one of its targets and drawn up a policy for meeting the target.
Committees of the Board
The company is not a systemically important credit institution for the financial system as referred in the Finnish Act on Credit Institutions. This is the reason why the company's Board of Directors only has an audit committee. The audit committee’s duties consist of those duties set out in the Finnish Act on Credit Institutions for audit committees. According to the Board, establishing the audit committee fulfils the requirements of the Finnish Act on Credit Institution on corporate governance which is comprehensive and proportionate with respect to the nature, scope and diversity of the company's operations to ensure the efficient management of the credit institution in accordance with prudential business principles and that the Board of Directors of the credit institution can effectively supervise the management of the credit institution.
Hanna-Maria Heikkinen, Chairperson
Qualification, trustworthiness and time management of the credit institution's management
The company complies with the requirements set on qualification and trustworthiness of the credit institution's management set in chapter 7, section 5 of the Finnish Act on Credit Institutions.
The company's CEO has established a management team to assist and support him in managing the daily operations. The members of the management team are the company's CEO, CFO, COO, the Head of Mortgage products and CRO.
Independent risk control function
The company has an independent risk control function headed by CRO Niko Nordlund.