Board of Directors
The combined knowledge, experience and commitment of our management team and our shareholders have been crucial in determining our strategy and building new initiatives.
Pursuant to our bylaws, our board of directors must be composed of seven principal members with their alternates. Each member of the board holds office for a term of one year and may be reelected for subsequent terms.The following table presents the current members of our board of directors*:
| Composición Junta Directiva* | ||
|---|---|---|
| Renglón | Miembro principal | Calidad |
| 1 | -VACANTE- | VACANTE- |
| 2 | -VACANTE- | VACANTE- |
| 3 | Juan Esteban Restrepo Betancur | Patrimonial |
| 4 | Fredy Adolfo Gutierrez Millán | Patrimonial |
| 5 | Camilo Alberto Pabón Robayo | Independiente |
| 6 | Joan Sebastian Zambrano Vesga | Independiente |
| 7 | Juan José Sotelo Enriquez | Independiente |
* Credivalores has adhered to the provision established in Article 44, Paragraph 1, of Law 964 of 2005, under which securities issuers may stipulate in their bylaws that there will be no alternates on the board of directors.
Commites
Audit Committee
We have established an audit committee which will be responsible for presenting proposals to our board of directors on structure, procedures and methodology regarding internal control, evaluating the internal control structure in place and reports from internal auditors and other control entities, presenting programs and controls to prevent fraud and other violations, overviewing the responsibilities and duties of the internal control department, monitoring our risk exposure and our mitigation procedures at least every six months, and presenting a report to our board of directors including a description of the most relevant activities of the committee and the deficiencies detected and recommendations that could affect the financial statements and annual reports.
Set forth below are the names of the members of our audit committee:
| Audit Committee | ||
|---|---|---|
| Principal Members | ||
| 1 | Juan Esteban Restrepo Betancur | |
| 2 | Fredy Adolfo Gutierrez Millán | |
| 3 | Camilo Alberto Pabón Robayo | |
| 4 | Joan Sebastian Zambrano Vesga | |
| 5 | Juan José Sotelo Enriquez | |
Risk Committee
Credivalores, following the best practices of the market and financial institutions, forms a risk committee led by the risk manager, which meets monthly to review the quality of the portfolio, update origination policies and monitor indicators at different stages of credit, the evolution of the risk matrix and the materialization of operational risk events.
Corporate Governance Documents
Product Portfolio
Tucrédito Libranza
Payroll loans, mainly to public service employees and pensioners. Payments on payroll loans are collected directly from employers before any wages are paid to clients, pursuant to clients irrevocable instructions. In addition, the majority of the portfolio is comprised of public sector employees and pensioners, who have low turnover rates and steady revenues, thus mitigating collection and non-payment risk.
Managed portfolio contribution: 52.0%
Collection Channel: Discount from employye payroll or national goverment pension payments.
Crediuno
Crediuno
A branded credit card offered at the mayor retailers in Colombia, that is collected through public utility companies. Payments due are invoiced as part of the client’s public utility bill, which creates a sense of priority for payment over any other consumer loan.
Managed portfolio contribution: 38.9%
Collection Channel: Installmet included and collected by public utility or mobile telephone companies on their bills.
