Employees and sustainability
To summarise the 2010 business year, momentum picked up for DVB, and the Bank completed another record year. Our main objective throughout every market cycle is to secure and enhance the business model for the long term.
Safeguarding the futureDVB has earned an excellent reputation as a specialised niche provider of advisory and financing services in the international transport finance business. We take the responsibility for maintaining and developing our good name and the DVB company brand very seriously. Our unique business model will continue to develop successfully on the cyclical transport markets as long as it lastingly secures even greater confidence – from our clients, investors and staff – in DVB. A capable management structure is in place, and our management teams have extensive expertise in the global transport and financial markets. We are proud of the experienced and effective team, which maintains exemplary standards of conduct towards clients and investors.
To successfully implement our focused business model in cyclical and sometimes unstable markets, it is essential to proactively identify all the risks we are exposed to. We call upon Risk Management, Compliance, Controlling and Internal Audit to ensure that all legal, regulatory and statutory requirements are being met. The scope of the Compliance function includes money laundering prevention, prevention of market abuse/market manipulation, data protection, conflicts of interest, and compliance with the Markets in Financial Instruments Directive. All employees receive compliance training on a regular basis, to ensure that everyone is familiar with – and remains aware of – clearly defined responsibilities.
The Board of Managing Directors implemented a Code of Conduct in spring 2010, in order to secure and deepen employee awareness of, and understanding for, compliant and ethically faultless conduct. We are also considering expanding the scope of the Code of Conduct to apply to business partners and suppliers, where it is appropriate and makes sense to do so.
The Code of Conduct can be viewed on our website www.dvbbank.com, under Investor Relations > Compliance.
We support fair and transparent competition. Consequently, we use documented, publicly accessible and verifiable information in order to evaluate our clients. Our Compliance department validates this information on an ongoing basis, in order to ensure that it is both up-to-date and transparent. DVB will also soon be adopting an anti-corruption policy that will complement existing guidelines for gifts and benefits. Our employees thus recognise how crucial it is to maintain comparable competitive conditions amongst the financial institutions active in transport finance.