Management Board

The Bank’s Management Board is an executive body, responsible for Bank’s current operations and performance. The Chairman and the members of the Management Board are appointed by and accountable to the Bank’s Supervisory Board.

The Management Board competency includes all issues connected with Bank current activities, except for the issues of exclusive competence of the General Shareholder’s Meeting or the Supervisory Board. The Management Board, representing the Bank, is empowered to:

1. Execute the resolutions of the General Shareholder’s Meeting and the Supervisory Board
2. Manage the Bank’s assets within the Board’s competence
3. Determine the principles of the lending operations, operations with securities, and operations of attracting  funding
4. Submit an annual balance sheet and suggestions on income distribution for consideration by the General Shareholder’s Meeting and the Audit Committee
5. Approve the Bank’s employees’ remuneration system 
6. Recommend the Supervisory Board on incorporation or liquidation of Bank’s outlets
7. Prepare the Bank’s annual and long-term budgets and business-plans, current monthly, quarterly and annual reports on Bank’s major activities to submit them for consideration of the Supervisory Board
8. Establish standing working bodies (committees, groups) and delegate them to resolve certain issues.

The Management Board meetings take place throughout the year on regularly basis, but not less than once a month. To consider urgent issues, the extraordinary Management Board meetings shall be convened at any time. The Management Board meeting has authority if it is attended by no less than a half of its members. The decision is made by a simple majority of votes. The members of the Supervisory Board have the right to attend the Management Board Meeting.

More information on the VAB Bank’s Management Board activities, obligations and competences could be found in the VAB Bank’s Articles of Association and the VAB Bank Management Board provisions. More information on the Management Board composition is here.

To ensure the efficient management as well as controls over the Bank’s activities, the Management Board established the following committees:

Assets and Liabilities Management Committee (ALCO)

• Sergii Borysov, Deputy Chairman, Head of Treasury and Financial Institutions (Committee Chairman)
• Oleksii Salivon, Deputy Chairman, Director of Corporate Banking
• Anton Shaperenkov, Deputy Chairman, Director of Retail Banking
• Vitalii Lischuk, Head of Market and Liquidity Risks Division

Credit Committee

• Anzhelika Golovko, First Deputy Chairman (Committee Chairperson)
• Oleksii Salivon, Deputy Chairman, Director of Corporate Banking
• Anton Shaperenkov, Deputy Chairman, Director of Retail Banking
• Liubomyr Shershuni, Deputy Chairman on Legal Issues
• Andrii Kovalevskii, Head of Legal Department
• Oleksandr Skomarovskii, Head of Security Department
• Oleg Kuzmin, Head of Risks Management Department
• Andrii Bilous, Head of Corporate Risks Division

Tender Committee

• Anzhelika Golovko, First Deputy Chairman (Committee Chairperson)
• Anton Shaperenkov, Deputy Chairman, Director of Retail Banking
• Volodymyr Lukin, Head of Information Security Department