Goals and structure of the compliance organisation
The goal of the group-wide compliance management system of VIG is to ensure compliance with the legal provisions applicable to VIG and the obligations that it voluntarily assumes, and to promote a culture of integrity to protect the good reputation of the Company.
The “VIG Compliance (incl. AML)” department, established in 2015, is responsible for compliance activities both in VIG Holding as an individual company and at the group level, and deals, for example, with matters related to insurance law (incl. Solvency II), issuer compliance, integrity management, confidentiality and data protection, prevention of money laundering and terrorist financing, asset management compliance as well as sanctions and embargoes. The area also sets compliance standards aimed at promoting an awareness of compliance in the Group.
The Head of Compliance (incl. AML) reports directly to the Managing Board. The function is organizationally separated from VIG's other key functions, performs her duties independently, and has no operational responsibilities related to VIG's core business activities.
The VIG compliance organisation has a decentralised structure. The Head of Compliance (incl. AML) works in close coordination with the compliance contacts in VIG Holding (mainly key personnel, area heads and special officers) and local Group company compliance officers, and coordinates communications with them. Compliance-related topics are handled, among other things, during regular Compliance Committee meetings.