The executive management shall monitor and manage the daily activities of the financial institution, and shall ensure that these activities are in line with the business strategy, risk level, and policies approved by the Board. It shall undertake the following responsibilities:
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| 54. | Implement the plans, policies, strategies, and main objectives of the financial institution that are approved by the Board.
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| 55. | Propose the most appropriate capital structure of the financial institution and its strategies and financial objectives.
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| 56. | Propose and implement a comprehensive strategy for the financial institution, as well as the principal and interim business plans, and the policies and mechanisms for investment, financing, risk management, and emergency administrative circumstances management plans.
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| 57. | Propose the main capital expenditures of the financial institution, and acquire and dispose of assets.
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| 58. | Propose the organizational and functional structures of the financial institution that clarify the role, powers, and responsibility of the various positions within the executive management, including the CEO, and submit same to the Board for approval.
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| 59. | Propose a policy of professional conduct and work ethics for the financial institution, and submit same to the Board for approval.
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| 60. | Propose a policy for the remunerations granted to employees, including, at minimum, the types of remunerations, such as fixed or performance-related remunerations or remunerations granted in the form of shares, and submit same to the Board for approval.
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| 61. | Apply the financial and accounting systems correctly, including the procedures relating to drafting financial reports.
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| 62. | Apply appropriate control systems for risk management by generally forecasting the risks that the financial institution may encounter, create an environment that is aware of the culture of risk mitigation at the level of the financial institution, and present same to the Board and other stakeholders with transparency.
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| 63. | Manage the resources of the financial institution pursuant to its strategic plans and objectives approved by the Board.
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| 64. | Implement internal control and risk management systems, including the conflict-of-interest policy, verify the effectiveness and efficiency of these systems, and ensure their compliance with the level of risks approved by the Board.
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| 65. | Submit to the Board an annual report on the internal control system and the implementation thereof to enable the Board to review the system and ensure its effectiveness.
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| 66. | Keep the Board constantly and adequately informed of substantial issues, and provide it with such information as it may require, in order to carry out its responsibilities and to supervise the executive management and evaluate its quality.
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| 67. | Understand and direct the financial and non-financial structures at the group level, and provide an appropriate mechanism to obtain updated information on the group structure.
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| 68. | Set appropriate procedures for regular communication with the financial institution’s major clients to assess their risks, and take into consideration the governance frameworks used by clients prior to entering into credit relationships with them. |
