Compliance & Non-financial Risk

The remit of Compliance & Operational Risk (COR) includes the assessment of compliance risk and operational risk within EIF. The Head of COR is also responsible for data protection within EIF.

Compliance
The role of COR, includes:

• the assessment of compliance risk for EIF as an institution
• the production of an independent compliance opinion covering e.g. anti-money laundering, 'know your customer' and tax transparency issues for each transaction submitted to the EIF Board of Directors
• the monitoring of the investment policies and restrictions for each mandate
• the assessment of professional conduct issues.

As part of its remit to assess public procurement matters, COR is actively involved in the concept and implementation of various calls for expression of interest, ensuring a fair and consistent approach. Finally, COR strengthens the awareness of EIF Staff on compliance-related matters through the organisation of an increased number of training sessions.

Anti-Money Laundering and Combatting the Financing of Terrorism

The European Investment Bank Group, consisting of the European Investment Bank (EIB) and the European Investment Fund (EIF), places great emphasis on integrity and good governance and is committed to the highest standards of anti-money laundering (AML) and combating the financing of terrorism (CFT). Adherence to the EIB Group AML-CFT Framework aims at preventing the EIB Group from being exposed to reputational damage and financial loss in relation to non-compliance with applicable AML-CFT standards.

On 17 January 2018, the Management Committee of the European Investment Bank (EIB) approved the revised EIB Group AML-CFT Framework. It is published on the EIB website

Operational risk
A methodology has been developed for the implementation of a comprehensive and integrated operational risk management framework to support the identification, assessment, monitoring and mitigation of operational risk within the organisation.

Data protection

EIF strives to implement the highest data protection standards in compliance with the Regulation (EU) 2018/1725 of the European Parliament and of the Council of 23 October 2018 on the protection of natural persons with regard to the processing of personal data by the Union institutions, bodies, offices and agencies and on the free movement of such data. To this purpose EIF has appointed a Data Protection Officer who can be contacted by email at dpo@eif.org for any inquiry about EIF Data Protection.