The BIS Board of Directors and Management attach the highest importance to compliance. The guiding principles for managing compliance at the BIS are set out in the BIS Compliance Charter.
The Bank's independent Compliance function provides reasonable assurance that the activities of the Bank and its staff are conducted in accordance with the highest ethical standards and all applicable laws and regulations, as well as internal rules, policies and procedures.
The Chief Compliance Officer (CCO) leads the Compliance function and assists Management in identifying and assessing compliance issues and in guiding and educating staff on related matters. The CCO reports to the Deputy General Manager and also has a direct reporting line to the Audit Committee, which is an advisory committee to the Board of Directors.
The BIS Code of Conduct details the following general principles which require that all BIS staff members:
- maintain the highest standards of conduct both at and outside the Bank
- devote their working activities to the service of the Bank
- avoid possible conflicts of interest with other activities
- not accept other functions or employment unless expressly authorised to do so by the Bank
- maintain the utmost discretion with regard to confidential information concerning the Bank