Responsibilities, Accountabilities and Reporting Lines

The Board of Directors has promoted the establishment of a Code of Conduct for directors and employees. All directors, executives, and employees share common goals in carrying out their designated duties and responsibilities to the Bank and its stakeholders. They perform their duties with integrity, in compliance with the law and the Bank’s rules and regulations, based on professional standards and a business approach that is transparent, honest, and fair, for the development of the organization towards attaining international standards. In addition, the Board of Directors approved the No Gift Policy and the Anti-Corruption Policy, which includes the issues of bribes and inducements, gifts and benefits, charitable contributions and financial sponsorships, as well as political contribution and activities. The policy is reviewed annually.

The Corporate Governance Committee has approved a strategic plan for good corporate governance activities to promote actions of directors, executives and employees in accordance with the good corporate governance principles, Code of Conduct and Anti-Corruption Policy, all of which have been communicated to companies within KASIKORNBANK FINANCIAL CONGLOMERATE to ensure shared practices.

The Office of Corporate Secretariat and Governance is assigned to review the Code of Conduct in consistence with the best practices and to arrange an orientation class on the Statement of Corporate Governance Principles, Code of Conduct and Anti-Corruption Policy for new directors and executives. As for new employees, the orientation class is arranged through e-Learning system. The Office of Corporate Secretariat and Governance also communicates the Code of Conduct with all directors, executives and employees, as well as offering them related knowledge via the Bank’s electronic network system, such as e-Learning courses on the Code of Conduct and the Anti-Corruption policy. Additionally, all executives and employees are required to sign their acknowledgment of compliance with the Code of Conduct via the electronic network system and Line KONNECT+, and conduct a test before their acknowledgement. This is intended to promote the understanding of performing their duties with responsibility in a correct and proper manner. The Office of Corporate Secretariat and Governance also launches activities and communicates best practices and actions in line with the Code of Conduct to all employees in an effective and regular manner. These activities are also reported to the Corporate Governance Committee for acknowledgment. In addition, the Bank has assigned the Compliance Department to supervise staff compliance with the Code of Conduct to assess effectiveness of operations according to significant risks, and the Internal Audit Department to evaluate compliance with regulatory requirements, the Bank’s operational procedures, and the Statement of Business Conduct. Moreover, the Bank has been regularly oversighted, supervised, and examined by related regulators, and in 2023, there were no significant non-compliance issues from regulators.

Breaches or compromise of this Code of Conduct are treated seriously and may result in disciplinary action up to and including termination of employment. The Employee Relations Department is responsible for investigating and handling disciplinary issues. Thus, supervisors are responsible for overseeing a strict compliance with the Code of Conduct among employees. Moreover, supervisors or employees shall report any failure or suspected lapse in compliance with the provisions of this Code to the Compliance Department or supervisors immediately. The Compliance Department shall then report such breaches to the Corporate Governance Committee.

In addition, the Bank has established a guideline to inform suppliers about the Bank’s Code of Conduct before participating in the bidding processes and communicated with customers and suppliers on No Gift Policy for all occasions. The Bank also provides channels for receiving information, complaints or whistle-blowing on inappropriate or improper conduct, including non-compliance with laws, regulations, Code of Conduct, or the Bank’s policies and procedures.