Good corporate governance helps our customers, staff, the Confederation – as the owner – and the general public to maintain and build up trust in PostFinance. Swiss Post Ltd and PostFinance Ltd are guided by the SWX Swiss Exchange “Directive on Information Relating to Corporate Governance” and the recommendations of the “Swiss Code of Best Practice for Corporate Governance” drawn up by economiesuisse. Transparent, open communication is key. PostFinance Ltd is a subsidiary of Swiss Post Ltd. For this reason, parts of its corporate governance are modelled on that of Swiss Post Group.
Corporate governanceTransparent business management
Corporate governance, compliance and risk management are key levers in PostFinance’s transparent and successful management.
PostFinance’s Code of Conduct is the basis for our everyday actions as our company’s reputation is very important to us. This is why we require all PostFinance employees to conduct themselves in accordance with this code. The principles of the Code of Conduct are binding for all employees, regardless of their function and position.
Abiding by our principles is an important way of helping to strengthen trust in our brand and of reinforcing PostFinance›s good reputation.
While Compliance ensures that legal, regulatory and internal requirements are followed, thus shaping PostFinance’s corporate culture along with all staff, PostFinance’s internal Legal Service department issues legal advice, conducts proceedings and manages contracts.
How PostFinance Ltd counters risks
PostFinance Ltd can only achieve its goals if the entire company acts together. This is why risk management concerns the entire company. At PostFinance Ltd, risk management is handled by the Board of Directors, the Executive Board, several central units and many decentralized departments.
Risk management at PostFinance Ltd complies with the standards for banks set by the Swiss Financial Market Supervisory Authority (FINMA) which are based on the rules established by the Basel Committee on Banking Supervision.
How much risk does PostFinance Ltd take
When it comes to financial risks, it is important for PostFinance Ltd to give itself the entrepreneurial freedom it needs to enable conscious risk-taking. As well as ensuring continued risk tolerance, the key to risk management is to manage the ratio between the risks taken and the associated opportunities for returns. PostFinance takes conscious financial risks (interest, credit, market and liquidity risks) in its risk transformation role, which enables it to generate industry- and risk-compliant returns. In so doing, PostFinance Ltd invests in high quality securities in Switzerland and abroad. However PostFinance Ltd aims to keep operational risks to a minimum via preventative measures. Preventative measures include, for example, keeping security precautions for e-finance fully up to date at all times.
Like any bank or securities dealer in Switzerland, PostFinance Ltd is required to sign the Agreement by Swiss Banks and Securities Dealers on Deposit Insurance and as such is a member of esisuisse. Customer deposits held with Swiss branches of the bank are protected for up to CHF 100,000 per customer, per bank. Deposits also include medium-term notes held in the name of the depositor at the issuing bank. All relevant information on the deposit insurance system can be found at www.esisuisse.ch.