78 İşbank
Annual Report 2015
The design and the effectiveness of the operating process of the internal control activities carried out by the relevant units in the process,
are monitored by the Internal Control Division which is an independent function. For this purpose, Internal Control Division performs
“onsite” and /or “remote” controls, with a risk focused approach, covering Bank’s branches in and outside the country, financial reporting
and information systems, Head Office units and subsidiaries subject to consolidation.
İşbank’s internal control system and internal control activities are structured and operated to make sure that; i) The Bank’s assets are
protected, ii) The Bank’s activities are carried out in compliance with the Law and other relevant legislation, the Bank’s internal policies and
guidelines, and banking practices, iii) accounting and financial reporting systems function securely and in integrity, and iv) information is
provided promptly.
Compliance
Compliance at İşbank is a top priority in duties and responsibilities of all executives and employees at all levels in the Bank and the Bank’s
financial subsidiaries subject to consolidation. Tasks and activities carried out regarding compliance at the Bank’s Head Office Divisions,
both domestic and foreign branches and the Bank’s financial subsidiaries subject to consolidation, are monitored within the scope of the
corporate compliance activities carried out by the Corporate Compliance Division functioning under the Board of Directors.
Corporate Compliance Division operates with the purpose to provide maximum contribution to ensure that the compliance risk shall
be effectively managed in line with the goals and maintained under control at the Bank and the Bank’s financial subsidiaries subject to
consolidation and within this context, the Bank’s operations shall be at all times in compliance with the applicable legislation, regulations
and standards with respect to its structure and functioning.
The necessary research, analyzing, monitoring, evaluating, informing, conducting, coordination and reporting activities regarding
compliance issues are conducted within the Corporate Compliance Division, which consists of four units, namely, Corporate Compliance
Unit, Banking Activities Compliance Unit, Fiscal Offences Unit, and Capital Market Instruments Suspicious Transactions Investigation Unit.
The duties and responsibilities of the Compliance Officer as stated in the Prevention of Laundering Proceeds of Crime Law and other
related regulations in effect are fulfilled by the Head of Corporate Compliance Division, who is the legal “Compliance Officer” of the Bank
as well. The activities regarding the prevention of laundering proceeds of crime and financing of terrorism in the Bank are executed in a
relevant and effective manner within the context of related legislations and the Bank’s Policy and the Compliance Program, which have
been prepared in accordance with these legislations.
Capital Market Instruments Suspicious Transactions Investigation Unit, was established in accordance with the “Communiqué on Obligation
of Notification Regarding Insider Trading or Manipulation Crimes” (V-102.1) published in the Official Gazette edition 28889 on 21/01/2014.
Bank’s Compliance and Compliance Risk Management Policy and Prevention of Laundering Proceeds of Crime and Terrorism Financing Policy
are stated in “Investor Relations / Corporate Governance” link at the Bank’s website
in English and Turkish.
The results of the activities regarding compliance are also regularly monitored and evaluated by the senior management and the Board of
the Bank.
Audit Committee’s Assessments on the Operation of Internal Control, Internal Audit and Risk
Management Systems and Its Activities in the Reported Period
