Internal Operation

The Piraeus Bank Group Cultural Foundation has incorporated in its operation a framework of rules, practices and procedures that define its organization, administration and functioning in order to achieve its mission and objectives. The framework includes the mechanisms that guide decision-making, ensure accountability and maintain transparency within the Foundation, aligning its activities with the legal and regulatory framework as well as with the rules and policies adopted and implemented by Piraeus Bank.

The key elements of PIOP’s internal operation framework include the following fields:

• Mission alignment: all the activities and decisions of the Foundation are aligned with its cultural mission, its vision and values
• Supervision by the Board of Directors: the Board of Directors of the Foundation is appointed by Piraeus Bank and is responsible for the strategic direction, decision-making and overall management of the Foundation
• Regulation and ethics policies: the Foundation has incorporated into its operations a set of Piraeus Bank policies and rules governing the behaviour of all its employees, promoting equality, respect for diversity and creating a culture of inclusion
• Transparency and accountability: the Foundation adopts mechanisms to maintain transparency in operations and financial management, ensuring that the institution is accountable to all auditors and stakeholders
• Financial management: the Foundation applies sound financial management practices to safeguard its financial resources and assets
• Compliance and Legal Obligations: the Foundation complies with the legal and regulatory framework that governs charitable institutions, including tax laws and other legislative requirements
• Risk Management: the Foundation develops strategies to identify, evaluate and mitigate risk that could affect its ability to achieve its objectives