IBK Industrial Bank Introduces Accountability Structure... "Continuous Strengthening of Internal Controls"

IBK Industrial Bank announced on the 1st that it has submitted the accountability structure chart prepared in accordance with the "Act on the Governance of Financial Companies" to the financial authorities.

In December last year, IBK Industrial Bank formed a task force (TF) to begin work on introducing the accountability structure chart and held briefing sessions for employees to ensure the early implementation of an internal control system based on the accountability structure chart. Additionally, the bank is building a system for the smooth operation of the accountability structure chart and plans to participate in the financial authorities' pilot operation to promote the stable establishment of the accountability structure chart.

An IBK Industrial Bank official explained, "The accountability structure chart, which faithfully reflects the purpose of the amendment to the governance law, is expected to contribute to the prevention of financial accidents and the enhancement of trust among financial consumers."

Previously, in January 2021, IBK Industrial Bank established the "Internal Control General Department," a dedicated internal control department. In January last year, it created the "Accident Analysis and Response Team" to conduct in-depth analysis of incidents, and in July this year, it established the "On-site Internal Control Inspection Team" for on-site internal control inspections, continuously strengthening internal control through securing compliance monitoring organizations and personnel.