NIB streamlines its organisation

The NIB Executive Committee has decided on further organisational changes following the restructuring of the Lending department.

These changes include further integration of mandate considerations in Lending. The department will host units dealing with rating potential loan-takers’ compliance with the Bank’s mandate.

In line with normal banking compliance that includes the segregation of duties, the title of the Chief Finance Officer will be assigned to the Head of Risk & Finance. The Head of Treasury will continue to have responsibilities for Treasury operations and investor relations. NIB has also established a new Asset and Liability Committee with the objective to assess all risks and overall capital adequacy. The operation of the new committee will be anchored with the CFO.

“The key driver for these adjustments is to improve operational efficiency and streamline the functions of the various departments in the Bank. It is also a step in the process of breaking down the silos,” says Henrik Normann, NIB President and CEO, explaining the changes in the Bank’s organisation.

Adjustments have been introduced in most departments of the Bank. The new organisation is in force as of 1 October 2012.