Financial Control and Planning

The Financial Control and Planning Department is divided into three groups: Financial Control and Planning, International Investments and, Head Office Accounting and Internal Control. The Financial Control and Planning Group has three functions:

Internal Reporting

This unit monitors the Bank's financial position, preparing daily, weekly and monthly reports and also provides information to its parent division. It also prepares monthly financial statements for the branches and other profit-centers to ensure accurate evaluation of their performance. During the preparation of the Bank's budget, the unit ensures coordination among other departments, collects and analyzes data, and prepares tables outlining the targets of the Bank's divisions as well as providing data for the audit of the Bank by independent audit or government bodies. In addition, it develops new internal control systems and reports for management and provides support for other similar projects.

Regulatory Reporting

This unit prepares the Bank's financial statements and other additional information related thereto in the format required by the regulators and presents these to authorities including the Central Bank of Turkey, the Under Secretariat of the Treasury, the Capital Markets Board and the Banks Association of Turkey.

Treasury Control Unit

This unit monitors the activities of the Treasury Department in terms of their profitability and risks, and reports the results of its analyses to management.

International Investments Group

The Group follows up on the international investments made by the Finansbank Group and coordinates these activities within the Group.

General Accounting and the Internal Control Group

This Group, which is part of the Financial Control and Planning Group, consists of the General Accounting, Head Office Accounting and Internal Control units. The General Accounting department fulfils two different functions. In addition to monitoring the Bank's purchases, construction projects, remodeling and renovation projects, financial leasing activities and fixed assets, the breakdown of the overheads and documentation and archiving of these activities, General Accounting provides the required documentation and record keeping (tracking of subsidiaries, their accounting, increases in the Bank's capital, etc.), ensuring that all operations are entered into the records in accordance with the Uniform Accounting Rules. The Head Office Accounting Unit also solves problems arising in relation to the accounting at both the branches and the Head Office, makes recommendations to users, provides training as needed, and ensures that a secure and adequate system exits to prevent errors in accounting records and shield the Bank from damage resulting in the event of an error.

As to the Group's Internal Control Unit, this body is responsible for ensuring reconciliation between the YTL/FX accounts of the Bank with its correspondent banks and checking daily accounting records (debit and credit entries, provisional accounts, suspense accounts and EFT monitoring, as well as verification of the Reverse and Debit Accounts of branches, and verifying liabilities such as taxes, funds and the like), correction of errors in records, and conducting effective, scheduled and/or surprise audits at the branches.