ANBIMA’s governance structure is formed by
the General Assembly, the Audit Board, the
Board of Ethics and the Board of Directors.
The Assembly, composed of one representative
for each associate, is the maximum authority in
decision making. Among its responsibilities is to
elect, every two years, the representatives that
will form the Board of Directors, the Board of
Ethics and the Audit Board. It may be convened to
decide on the creation or alteration of Regulation
and Best Practices Codes, and to decide on the
exclusion of institutions from the membership.
The Audit Board, composed of three members,
is responsible for examining the accounts sent
by the Board of Directors and approving the
independent auditors’ report before it is sent for
deliberation by the Assembly.
The Board of Ethics is responsible for
interpreting and applying the principles of the
entity’s Code of Ethics. It is composed of seven
members, all associates, who are responsible
for establishing and analyzing procedures
and proposing to the Board of Directors that
penalties be applied for breach of the standards
of conduct and established principles.
Every two years, the Assembly elects a group
of representatives, with 15 to 23 members
appointed by the associates, to compose the
Councils and the Board of Directors. The Board
of Directors is composed of one president, up
to eight vice-presidents and up to 14 directors,
who are elected for two year renewable terms,
except for the president who may only be
reelected once. All members must be associates
and the positions of president and vice-
president may only be occupied by directors of
the associates.
The Board of Directors is responsible for defining
the entity’s business strategy. It has the support
of representative bodies that unite members
of the segments represented by ANBIMA.
The directors also feature three products and
services bodies and three other supporting
bodies, which give support to the remaining
bodies of the Board of Directors in the areas
of taxes, accounting and compliance. The
Executive Committee, comprised of a general
superintendent, three executive superintendents
and two superintendents, is responsible
for ensuring the proper functioning of the
Association, in accordance with the strategic
guidelines defined by the Board of Directors.
The Board of Directors defines and monitors the
implementation of ANBIMA’s strategic plan. It
counts on the support of representative bodies,
products and services and supporting bodies
Governance
Annual Report
ANBIMA
2011
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15
