Swedbank has Group functions in Accounting & Finance, Risk, Corporate Affairs (communication, strategic marketing and community affairs), HR, Legal Affairs, Compliance and Group Business Support, fully operational from 1 January 2011. Group Business Support, which will be responsible for the bank’s products and production, IT, internal services and process efficiencies.
Among the roles of the Group functions are to create and monitor Group-wide processes. They are also responsible for compiling and analysing reports to the CEO and the Board. In this way the Group functions support the CEO in his efforts to ensure that governance and monitoring are based on, among other things, Swedbank’s vision, purpose and values. Shared procedures provide support to business operations and facilitate knowledge transfers between the bank’s various markets.
Part of the work of the Group functions is to draft written frameworks for operations. Group-wide frameworks are established by the Board or the CEO. More detailed rules are based on the bank’s Code of Conduct, which was established by the Board. The rules are available to all employees on the intranet and are updated continuously.