Coface SA

The Company has set up a Group‑level governance system based on a clear separation of responsibilities with a system for the provision of information. This governance system includes the following key functions: the risk management, compliance, internal audit and actuarial functions (see Section 5.3.1 "Internal control system"). Each key function operates under the ultimate responsibility of the Board of Directors, to which it reports. [...] The Board of Directors consults key function managers, directly and at its own initiative, whenever it deems this necessary and at least once a year. This consultation can take place in the absence of the Chief Executive Officer if the Board members consider it necessary. The Board of Directors may refer this consultation to a specialised Board committee; [...] The Heads of functions may inform the Board of Directors, directly and at their own initiative, of the occurrence of certain events that warrant this action. They must do so immediately upon encountering a major problem that falls within their purview. The Head of the key function must send a written report of the problem to the Chairman. The report must include a detailed explanation of the problem as well as all the elements required to understand it. The report must include recommendations for resolving the problem. The Chairman then communicates this report to the Board members.

The Audit and Accounts Committee is responsible for monitoring the statutory audit of the parent company and consolidated financial statements by the Company's Statutory Auditors. The Audit and Accounts Committee has regular discussions with the Statutory Auditors during the Audit and Accounts Committee meetings dealing with the review of the procedures for preparing financial informati"
"The Group Risk and Compliance Committee is chaired by the Chief Executive Officer and meets at least every quarter with the members of the Group Management Committee, the Group's strategic and operational management body, the Group Chief Risk Officer, the Group Chief Compliance Officer, the Group Audit Director and the Head of the Actuarial Department. Representatives of the operational or functional departments concerned also attend depending on the matters at hand. [...] Below is a summary of the committee's main duties and actions during 2022: MAIN DUTIES OF THE GROUP RISK AND COMPLIANCE COMMITTEE MAIN TOPICS REVIEWED IN 2022 - Validation of Solvency II risk policies and regulatory reports (SFCR, RSR, ORSA) - Review of risk appetite indicators and their relevance - Validation of the risk map - Proposal and monitoring of risk appetite limits - Monitoring of the Group's risk exposure in all its dimensions - Review of the main conclusions of sub‑committee meetings - Acknowledgement of the work performed by the compliance function - Regular approval of the performance and results of the partial internal model [...] The Group Risk and Compliance Committee reports on its work to the Audit and Accounts Committee or to the Risk Committee, as appropriate."
"With regard to lobbying, Coface does not directly or habitually carry out any activity in this field and has no employee whose appointed duty or mission involves lobbying public or political entities. Nevertheless, any action undertaken in this respect should naturally be carried out in the context of the internal rules laid down by Coface in the aforesaid code of conduct, which includes a number of anti‑corruption rules. In addition to the code of conduct, a lobbying code was introduced in 2021.