Internal governance and control

Internal governance and control

CEO

Christopher Åkerblom is Nordic Issuing’s CEO. The CEO is responsible for all transactions that Nordic Issuing carries out. In addition, the CEO, together with Nordic Issuing’s management team and finance function, is responsible for, among other things, Nordic Issuing’s internal corporate governance, compliance, legal matters, finance, and management of control functions. The CEO is also responsible for reporting to authorities.

Deputy CEO

Ida Nordehammar is Nordic Issuing’s Deputy CEO. The Deputy CEO has a central function in Nordic Issuing and is directly subordinate to Nordic Issuing’s CEO.

Finance function

The finance function is provided by Nordic Issuing’s parent company Spotlight Group AB. The Chief Financial Officer (“CFO”) Mikael Renck is responsible for the function. The function is responsible for the current accounting, financial statements, declarations, invoices, payments and is responsible for ongoing reporting to the Swedish Financial Supervisory Authority. The function is subordinate and reports directly to the board.

The three lines of defense

Nordic Issuing is a securities company under the supervision of the Swedish Financial Supervisory Authority. Special requirements are placed on securities companies’ internal governance and control. Nordic Issuing works based on the model, established in the industry, of the three lines of defense. Through this, Nordic Issuing enables efficient risk management and internal management and control.

The first line of defense includes, above all, the board, CEO, management, and CFO. These are the business’s primary risk owners and are responsible for the business maintaining a sustainable risk culture.

The second line of defense, which includes the functions of compliance and risk management, is independent from the business operations. These functions are responsible for ensuring that the first line follows internal and external regulations. Furthermore, the second line will be a support to the first line in the work with internal governance and control and work proactively to create a satisfactory and efficient control environment in Nordic Issuing. These control functions are also responsible for analyzing, following up and reporting the work to the board.

Responsible for Nordic Issuing’s function for risk management (Risk Manager) is Nils Lansing (LL.M.). Responsible for Nordic Issuing’s function for compliance (Compliance Officer) is Alexander Curling (LL.M.). The functions have been outsourced within the group to the legal advisor Markets & Corporate Law Nordic AB (“MCL”) and are directly subordinate to Nordic Issuing’s board.

Nordic Issuing’s management regularly meets with the functions for compliance and risk management. Both functions report quarterly to the board.

The third line of defense is the internal audit function. The overall purpose of the internal auditor’s audit is to ensure that rules governing the business are observed and that deviations that are discovered are handled as soon as possible. The work includes, inter alia, to review and evaluate the organization, routines, and processes of the first and second lines of defense from an efficiency and purpose perspective. The internal audit reports to the board and follows up that the recommendations made are followed. The company’s management regularly meets with the internal audit function. The internal auditor reports quarterly to the board.