illimity Bank S.p.A. adopts a traditional administration and control system, designed to ensure a clear functional separation between the members of the body with strategic supervision functions and the members of the control body. This system is based on the presence of a Board of Directors and a Board of Statutory Auditors, both appointed by the shareholders’ meeting.
Board of Directors
The Board of Directors plays a central role within the corporate organization and is entrusted with the functions and responsibility for strategic and organizational guidelines, as well as the verification of the existence of the controls necessary to monitor the Company’s performance.
The Board is vested with all powers of ordinary and extraordinary administration, with the sole exception of those powers that the law expressly reserves to the Shareholders’ Meeting.
Board of Statutory Auditors
The Board of Statutory Auditors performs the duties and exercises the control functions established by the applicable legal, supervisory, and regulatory framework, and reports to the Supervisory Authorities in accordance with the regulations in force.
The Board of Statutory Auditors is therefore entrusted with the control function and ensures the proper coordination of all functions and structures involved in the internal control system, promoting, where appropriate, any necessary corrective actions.
Our administration and control system follows a “traditional” model, with strategic management entrusted to the Board of Directors and oversight responsibilities assigned to the Board of Statutory Auditors.