Ethics and conduct
The BIS Board of Directors and Management attach the highest importance to ethics and conduct.
The Bank's independent Ethics and Conduct function provides reasonable assurance that the activities of the Bank and its staff are conducted in accordance with the highest ethical standards and the relevant codes of conduct adopted by the Bank.
The Chief Ethics and Conduct Officer (CECO) leads the Ethics and Conduct function. The CECO assists Management in identifying and assessing ethics and conduct issues, and provides guidance and training to staff on related matters. The CECO reports to the General Manager and 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
The members of the Board of Directors are subject to a specific code of conduct.
The BIS is committed to promoting a harmonious working environment free from harassment, discrimination and abuse of authority – one in which everyone feels respected and safe.
All individuals visiting the BIS premises and/or attending BIS events and meetings (on or off BIS premises) are expected to treat others at all times with courtesy, dignity and respect.
Reports of any improper behaviour should be made to the Chief Ethics and Conduct Officer.
Any complaint of improper behaviour against an individual visiting the BIS premises and/or attending BIS events or meetings will be promptly and thoroughly investigated by the Chief Ethics and Conduct Officer and, if found to be substantiated, will be addressed by the Bank with any measure deemed appropriate by it.
Ein sicherer und respektvoller Arbeitsplatz
Die BIZ ist bestrebt, ein harmonisches Arbeitsumfeld zu fördern, das frei von Belästigung, Diskriminierung und Autoritätsmissbrauch ist und in dem sich jeder respektiert und sicher fühlt.
Von allen Personen, die sich in den Räumlichkeiten der BIZ aufhalten und/oder an Veranstaltungen und Sitzungen der BIZ (in oder ausserhalb der Räumlichkeiten der BIZ) teilnehmen, wird erwartet, dass sie andere jederzeit mit Höflichkeit, Würde und Respekt behandeln. Meldungen über unangemessenes Verhalten sind an den Chief Ethics and Conduct Officer zu richten.
Jede Beschwerde über unangemessenes Verhalten gegenüber einer Person, die sich in den Räumlichkeiten der BIZ aufhält und/oder an Veranstaltungen oder Sitzungen der BIZ teilnimmt, wird vom Chief Ethics and Conduct Officer unverzüglich und gründlich untersucht. Falls sie sich als begründet erweist, reagiert die Bank darauf mit den von ihr als angemessen erachteten Massnahmen.
Espacio laboral respetuoso y seguro
El BPI está comprometido con la promoción de un ambiente armonioso de trabajo, libre de acoso, discriminación y abuso de autoridad, en el que todos se sientan respetados y seguros.
Se espera que todas las personas que visiten las instalaciones del BPI y/o asistan a eventos y reuniones del BPI (o en sus instalaciones) traten a otros en todo momento con cortesía, dignidad y respeto. Cualquier conducta impropia o indebida deberá ser reportada al Chief Ethics and Conduct Officer.
Cualquier comportamiento impropio en contra de un individuo visitando las instalaciones o atendiendo eventos o reuniones del BPI será inmediatamente investigado de forma exhaustiva por el Chief Ethics and Conduct Officer y, en caso de encontrarse justificación, será atendido con las medidas que el Banco considere apropiadas.
安全和人人都受到尊重的工作环境
国际清算银行致力于创造和促进一个没有骚扰、歧视和滥用权力的和谐工作环境，让每个人都受到尊重和感到安全。
所有访问国际清算银行场所和/或参加国际清算银行活动和会议（在BIS场所内外）的人员都应在任何时候待人以礼、促进尊严和尊重他人。任何不当行为，均可向国际清算银行首席道德与行为操守官报告。
首席道德与行为操守官将对任何上述提及的不当行为的投诉进行迅速和彻底的调查。如果发现证据确凿，国际清算银行银行将采取其认为适当的措施对此予以处理。
Reports of suspected inappropriate activity or any conduct relating to the discharge of professional duties which constitutes a breach of BIS rules and regulations may be made through:
- the dedicated external Integrity online platform
- the external Integrity Hotline: +41 43 508 92 45 (access pin: 1930)
"Breach(es)" mean any inappropriate activity, including fraud, theft, coercion or corruption, affecting the Bank's financial interests or reputation, or any conduct relating to the discharge of professional duties by any staff member (including the General Manager), secondee to the Bank or contractor of the Bank, which constitutes a failure to comply with rules and regulations applicable to them, including the relevant BIS Code of Conduct.
Whistleblowers who decide to disclose their identity will be protected against retaliation. Retaliation constitutes a breach of BIS rules, which should be reported through the above channels.
The Bank will not take any actions to determine the identity of anonymous whistleblowers.
Risk management
Banking activities form an essential element of meeting the Bank's objectives and ensure its financial strength and independence. The BIS engages in banking activities that are customer-related as well as activities that are related to the investment of its equity, each of which may give rise to financial risk comprising credit, market and liquidity risks. The Bank is also exposed to operational risk.
Within the risk framework defined by the Board of Directors, the Management of the Bank has established risk management policies designed to ensure that these risks are identified, appropriately measured and controlled, and monitored and reported.
To achieve these objectives, the Bank has an independent Risk Management function covering financial risks and an Operational Transformation & Resiliency unit covering operational risks. Both develop corresponding policies and proposals, and monitor adherence to defined rules and limits.
The Head of Risk Management, who is part of the Management of the BIS, reports directly to the Deputy General Manager and acts as his/her deputy in matters related to financial risk management. The Head of Operational Transformation & Resiliency serves as the Deputy Head of Risk Management and regularly reports on matters of operational risk to the Bank's Audit Committee.
As an international financial institution that is overseen by a Board composed of Governors of major central banks and that, by nature, has no national supervisor, the Bank is committed to maintaining its superior credit quality and financial strength, in particular in situations of financial stress. The Bank continuously assesses its capital adequacy for financial and operational risks, based on an annual capital planning process that focuses on two elements: an economic capital framework and a financial leverage framework.
Internal audit
The Internal Audit unit (IA) helps the Bank accomplish its objectives by evaluating and improving the effectiveness of risk management, control, and governance systems and processes. IA aims to promote effective controls at reasonable cost.
To ensure independence, the Head of IA reports to the General Manager and the Deputy General Manager and to the Audit Committee. To maintain objectivity, IA does not have operational responsibility for or authority over any of the activities audited. Every activity and entity of the Bank, including outsourced activities, falls within the overall scope of IA. See the Internal Audit Charter for more information.
Bank remuneration policy
The jobs performed by our staff are classified into job grades associated with a structure of salary ranges. Salaries of individual staff members move within the ranges of the salary structure on the basis of performance.
We undertake regular surveys to benchmark BIS salaries against compensation in comparable institutions and market segments. In years between such surveys, the salary structure is adjusted on the basis of the rate of inflation and the weighted average real wage development in advanced economies.
The salaries of senior officials are also regularly benchmarked against compensation in comparable institutions and market segments. The annual remuneration of senior officials is based on the Salary structure for the General Manager, Deputy General Manager and Heads of Department as published each year in the Annual Report.
Through the Bank, BIS staff members have access to a contributory health insurance plan and a contributory defined benefit pension plan. Subject to certain conditions, staff members who are not nationals of the host countries where the BIS offices are located, including senior officials, are entitled to expatriation benefits as well as an education allowance for the international schooling of their children.
The majority of BIS staff employed at the Bank's Basel headquarters and the Asian and Americas representative offices are, under agreements with the relevant host countries, exempt as a rule from income tax on Bank salaries and allowances that would otherwise be levied by those host countries. However, they remain in general subject to tax levied in the host countries on income from sources other than the Bank, as well as other taxes (eg wealth tax, as well as property taxes and other cantonal and federal taxes in Switzerland). The exemption from national taxation reflects a well established international practice.
