Compliance is integral to the Bank’s ethical, professional and business approach.

The independent EIB Compliance function promotes the highest standards of integrity and ensures that they are applied to all of the Bank’s activities, as outlined in our integrity policy and compliance charter.

As well as combatting money laundering and the financing of terrorism, the Compliance function strongly supports a corporate culture based on ethical values and professional conduct, while it ensures efficient management and oversight of non-financial risks as comprising operational risk, information and communication technology (ΙCT) risk and overall compliance, conducts risks and reputational risks.

Roles of the EIB compliance function

The Compliance function is co-responsible for the identification, assessment, monitoring and reporting of non-financial risks. The Bank adheres to the Basel Committee on Banking Supervision’s definition of compliance risk as “risk of legal or regulatory sanctions, material financial loss, or loss to reputation” to which an EIB Group member may be exposed, arising from a failure to comply with applicable laws, rules and regulations.

Compliance activities

Areas of activity within Compliance include:

• integrity checks on operations and counterparties
• integrity of staff and governing bodies (ethics)
• ensuring that procurement selection procedures comply with internal rules
• ensuring operational and reputational risks are managed effectively
• ensuring that data protection regulation requirements are met
• management of information and communication technology risk

Organisation

In accordance with the principles laid down by the Basel Committee, Compliance is an independent function under the guidance and responsibility of the EIB Group Chief Compliance Officer (GCCO). The Group Chief Compliance Officer, under the oversight of the Group Chief Risk Officer, is responsible for the Compliance function and has direct access to the President and to the Management Committee, participates in its meetings, and has access to the Audit Committee.

Compliance risk is managed at EIB Group level by:

• Office of the Group Chief Compliance Officer, in charge of European Investment Bank Compliance
• EIF Compliance (COMPL), in charge of European Investment Fund Compliance

In the spotlight

The Operating Rules of the Ethics and Compliance Committee (ECC) set out the provisions applying to the Ethics and Compliance Committee of the European Investment Bank.

The EIB Group Compliance Activity Report for 2024 describes the EIB Group Compliance Functions’ organisational set-up, activities, ongoing work to further strengthen the policy framework and the management of the risks under their remit, and includes the foreseen priorities for 2025.

The Ethics and Compliance Committee rules and makes decisions on any conflict of interest of any member and former member (during their cooling-off period) of the Board of Directors or the Management Committee.

Stay up to date

PUBLICATIONS

• European Investment Bank Compliance Activity Report 2024
• European Investment Bank Compliance Activity Report 2023
• European Investment Bank Compliance Activity Report 2022
• European Investment Bank Compliance Activity Report 2021
• European Investment Bank Compliance Activity Report 2020
• Office of the Chief Compliance Officer Activity Report 2017
• Office of the Chief Compliance Officer Activity Report 2016
• Office of the Chief Compliance Officer Activity Report 2015
• EIB Office of the Chief Compliance Officer Activity Report 2014
• Processing of personal data by the Fraud Investigations Division and the Office of the Chief Compliance Officer: [BG], [CS], [DA], [DE], [EL], [EN], [ES], [ET], [FI], [FR]. [GA], [HR], [HU], [IT], [LT], [LV], [MT], [NL], [PL], [PT], [RO], [SK], [SL], [SV]