Purpose
A structured corporate governance is a precondition for achieving business goals and maintaining the trust of our stakeholders.
We are committed to a corporate governance framework that ensures Alandia’s operations follow prudent and transparent business principles that enable the execution of the company’s strategy in accordance with the Board of Directors’ guidelines.
Annual General Meeting
The highest authority in Alandia is the Annual General Meeting (AGM). Key activities performed at the AGM include approving the Articles of Association, reviewing the annual accounts and electing the Board of Directors.
Operations
In order to secure a sufficient control environment, Alandia’s operations are organised according to the three lines of responsibility principle.
The first line of responsibility consists of front-line operational business. The CEO and managers of the business have the ownership, responsibility and accountability for the day-to-day risk management, compliance and internal control activities in their respective areas of responsibility. These also include outsourced functions. The first line reports to the CEO and to central functions in the second line of responsibility.
The second line of responsibility consists of the central functions for risk, compliance and actuarial matters. These functions operate objectively and independently with regard to the operational business. These central functions monitor, challenge and advise the operational business while reporting to the Board of Directors, and the CEO.
The third line of responsibility consists of the internal audit function, which operates objectively and independently with regard to the first and second lines of responsibility. The internal audit team reports to the Board of Directors and the CEO.
