New Business and Product Committee
The purpose of the New Business and Product Committee is to assess all new business, product and service proposals raised by various Garanti business units, subsidiaries or third parties, as well as to evaluate their ability to manage the demand process, implementations and risks involved in new business, products and services along with the control and management environment. The Committee is also charged with reviewing all new business, products and services. The Committee’s responsibilities are as follows:
- Evaluate the fitness of all proposed new business, products and services to the Bank’s strategy and target risk profile, and approve/reject these proposals in accordance with the New Business Product Committee Bylaws and the New Business and Product Approval Guidelines and submit them to the Board of Directors for approval as necessary,
- Conduct an ongoing review of each new business, product or service for a minimum period of 12 months following their launch in order to ensure their proper implementation (in this context, the Committee may revoke the approval of a previously approved product or service, or halt the introduction of a product/discontinue a product in use),
- Summarize and inform on its deliberations and decisions, as appropriate, to managers within affected business lines, the members of senior management, and Board of Directors Risk Committee,
- Monitor the policies, procedures, regulations and similar documents under its responsibility with respect to necessary updates, and take action to keep them up-to-date.
In 2018, the Committee held three meetings.
M. Cüneyt Sezgin, v (Board Member), Aydın Güler (EVP), İlker Kuruöz (EVP), Aydın Düren (EVP), Ali Temel (Chief Credit Risk Officer), Özlem Ernart (Head of Risk Management), Barış Gülcan (Director), Emre Özbek (Director), Beyza Yapıcı (Director), Osman B. Turgut (Head of Internal Audit)