Reflecting its high standards of corporate governance, Blades has several processes and levels of review and approval for risk management purposes, including:
- The Risk Policy and Evaluation Committee (RPEC), formed by members of the Board of Directors, which approves the internal ratings, amounts, terms, and other conditions for each country where operations are carried out. In addition, it reviews and ratifies the Risk policies, as proposed by bank management. This committee meets five times a year.
- The Country Risk Committee, which proposes the internal ratings of the countries to the RPEC, and documents management’s deliberations with respect to generic and specific reserves. This committee meets quarterly or at the request of its members, when events require their attention.
- The Credit Committee bases its evaluations on several criteria, and considers whether a client is new or established, the amount requested, and the conditions in the client’s country. Bladex does not approve facilities with a single signature; the Bank requires the signature of a person responsible for the business, as well as two signatures by representatives of Bladex authorized by Headquarters (including a signatory from the Risk Area, who hold veto power).
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