Corporate governance systems
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’s Board has established an audit committee and a risk committee. The committees’ duties consist of those duties set out in the Finnish Act on Credit Institutions for committees. According to the Board, establishing the audit committee and the risk 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.
Audit committee:
Ilkka Salonen, Chair
Minna Martikainen
Kaj Blomster
Ola Littorin
Risk committee:
Kaj Blomster , Chair
Minna Martikainen
Timo Nyman
Ilkka Salonen
Nomination committee:
Nina Luomanen
Petteri Änkilä
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 4 and the requirements set on the time management 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, Head of Mortgage products, Collateral Manager, CRO and Compliance Officer. The CRO and Compliance Officer participate in board work but not in decision-making.
Independent risk control function
The company has an independent risk control function headed by CRO Riina Virta.
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