CAFSA | Financial group

Audit Committee

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The Audit Committee is a collegiate body made up of members of the Group's Board of Directors, which has the purpose of guaranteeing the exercise of independent judgment for the CAFSA Financial Group. It will be approved by the Board of Directors, and will serve as a support body for the supervision of the Risk Management System, Internal Control System, and the Corporate Governance of the Group, in observance of its compliance, its alignment with national laws and regulations. , as well as in accordance with the best practices adopted for financial entities.

It functions as a direct communication channel between the Board of Directors, the Administration, the Internal Control Office and the External Auditors. These Internal Regulations of the Audit Committee must be reviewed and approved annually by the Board of Directors.

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Risk Committee

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The main objective of the Risk Committee is to observe the correct Comprehensive Management of the Risks to which the CAFSA Financial Group is exposed, in accordance with its capacity and risk appetite.

Likewise, it ensures that business operations have the necessary and appropriate risk policies and procedures to achieve strategic objectives. His appointment will be approved by the Board of Directors, and he will serve as a support body for the control and Comprehensive Risk Management of the Financial Group.

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Compliance Committee

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Corporación CAFSA SA recognizes the issue of Money Laundering and Terrorist Financing as one of the risks of the country's financial activity.

Therefore, it is committed to collaborating in the prevention and control of illicit activities related to this issue so that its subsidiaries comply with all the mandates that Costa Rican regulations establish on the matter.

For this purpose, a Compliance Committee has been formed, which will be governed by the existing legal and regulatory standards and by the provisions contained in these regulations.

This section establishes the appointment of the Compliance Committee as the control, support and monitoring body for the Compliance Officer in the prevention and institutional detection of possible illicit activities related to “Money Laundering and Terrorism Financing”.

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Credit committee

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The Credit Committee is responsible for reviewing and approving credit applications, following the guidelines and policies established by the entity.

Its objective is to guarantee adequate credit risk management, controlling risk exposure and ensuring the quality of the credit portfolio.

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Technology Committee

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The Technology Committee is responsible for overseeing the use and strategy of technology within the organization.

Responsible for evaluating technology trends, risks and opportunities associated with technology and ensuring that the organization complies with all technology policies and regulations.

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Assets and Liabilities Committee

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The Assets and Liabilities Committee is responsible for managing and supervising the entity's balance sheet.

Its objective is to guarantee the solvency and liquidity of the entity, supervising fluctuations in interest rates, exchange risks and the concentration of maturities.

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Executive committee

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The Executive Committee is responsible for making strategic decisions in the daily operation of the organization.

Supervises and manages all functional areas of the entity, ensuring that strategic and operational objectives are met.

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Recovery Committee

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The Recovery Committee is responsible for supervising and managing the recovery of the entity's assets.

Its objective is to ensure that recoveries are maximized and losses associated with the portfolio of non-performing assets are minimized.

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