Board of directors
Board of directors
- AUDIT COMMITTEE
- RISK COMMITTEE
- CORPORATE AFFAIRS COMMITTEE
- CORPORATE GOVERNANCE COMMITTEE
- TECHNOLOGY AND INNOVATION COMMITTEE
- ENVIRONMENTAL, SOCIAL AND GOVERNANCE (ESG) COMMITTEE
- COMPENSATION COMMITTEE
AUDIT COMMITTEE
The Committee is made up of three independent members of the Board of Directors. The Corporate Legal Vice President acts as its secretary, and the Internal Audit Manager, the Corporate Comptroller Vice President, and the Statutory Auditor attend as permanent guests with voice but without voting rights.
Its main function is to support the Board of Directors in overseeing the accounting and financial systems, ensuring that internal controls are adequate for the Company. It carries out supervision, reporting, and advisory tasks.
Members: Esther América Paz Montoya (President), Fabio Castellanos Ordóñez, and Luis Fernando López Roca.
RISK COMMITTEE
The Committee is composed of three members of the Board of Directors. The Corporate and Conglomerate Risk Manager acts as the committee secretary, and the Corporate Risk and Compliance Vice President attends as a permanent guest.
Its main function is to assist the Board of Directors in fulfilling its supervisory responsibilities regarding the risk management of the Aval Financial Conglomerate.
Members: Fabio Castellanos Ordóñez (Chair), Jorge Silva Luján, and Andrés Escobar Arango.
CORPORATE AFFAIRS COMMITTEE
The Committee is made up of three members of the Board of Directors. The Corporate Legal Vice President acts as its secretary, and the Corporate Comptroller Vice President attends as a permanent guest. Its main function is the study of issues related to the monitoring of the work carried out by the corporate comptroller of Grupo Aval and its subordinate entities.
Members: Esther América Paz Montoya (President), Álvaro Velasquez Cock, and Fabio Castellanos Ordóñez.
CORPORATE GOVERNANCE COMMITTEE
The Committee is composed of the President and six Corporate Vice Presidents of Grupo Aval. The Corporate Legal Vice President also acts as secretary.
Its main function is to serve as the body responsible, in the first instance, for reviewing and evaluating the characteristics of transactions that may present conflicts of interest or potential conflicts of interest between Grupo Aval and the entities that make up the Aval Financial Conglomerate, related parties of the Aval Financial Conglomerate, and the administrators or decision-making personnel of the Conglomerate’s entities. It also monitors the implementation of the Company’s corporate governance best practices and, based on these and other matters submitted for its consideration, assists the Board of Directors in the process of continuous improvement in the adoption of good governance standards.
Members:
(i) President of the Company, (ii) Corporate Financial Vice President, (iii) Corporate Information Technology Vice President, (iv) Corporate Legal Vice President, (v) Corporate Risk and Compliance Vice President, (vi) Corporate Sustainability and Strategic Projects Vice President, and (vii) Corporate Financial Assets and Efficiency Vice President. You may consult the Committee’s regulations here.>
Members: Esther América Paz Montoya (Chair), Fabio Castellanos Ordóñez and Luis Fernando López Roca.
TECHNOLOGY AND INNOVATION COMMITTEE
The Committee is made up of three members of the Board of Directors. The Corporate Vice President of Technology acts as secretary.
Its main function is to make decisions based on the information reported by management regarding Grupo Aval and its subsidiaries' strategies in the areas of technological systems, new technologies, digital transformation, and the investments and operating expenses required and executed to develop these strategies, as well as their reporting to the Board of Directors.
Members: Luis Carlos Sarmiento Gutiérrez (President), Mauricio Salgar Hurtado, and Jorge Silva Lujan.
ENVIRONMENTAL, SOCIAL AND GOVERNANCE (ESG) COMMITTEE
The Committee is composed of three independent members of the Board of Directors. The Corporate Vice President of Sustainability and Strategic Projects acts as secretary.
Its main function is to ensure that ESG matters are strategically integrated into the operations of the Company and its subsidiary entities, defining goals and objectives, in order to maintain the purpose of Grupo Aval being a responsible and competitive actor that responds to the needs and expectations of its stakeholders.
Members: Luis Fernando López Roca (President), Andrés Escobar Arango, and Mauricio Salgar Hurtado.
COMPENSATION COMMITTEE
The Committee is composed of at least two people appointed by the Board of Directors.
The company's Compensation Committee is responsible for setting the compensation of the company's President, as well as defining the parameters for him to determine the remuneration of senior executives and employees of the company.
Members: Luis Carlos Sarmiento Angulo and Mauricio Cárdenas Müller.
AUDIT COMMITTEE
The Committee is composed of three independent members of the Board of Directors, with experience in finance and internal control. The Corporate Legal Vice President acts as secretary, and the Internal Audit Manager, Corporate Comptroller Vice President, and Statutory Auditor attend as permanent guests with voice but without voting rights.
Its main function is to support the Board of Directors in overseeing the accounting and financial systems, ensuring that internal controls are adequate for the Company. It performs supervisory, reporting, and advisory duties.
Members: Esther América Paz Montoya (Chair), Fabio Castellanos Ordóñez, and Luis Fernando López Roca
RISK COMMITTEE
The Committee is composed of two independent members and one proprietary member of the Board of Directors, with experience in finance, information security, and internal control. The Corporate and Conglomerate Risk Manager acts as secretary, and the Corporate Risk and Compliance Vice President attends as a permanent guest.
Its main function is to assist the Board of Directors in fulfilling its oversight responsibilities related to risk management within the Aval Financial Conglomerate
Members: Fabio Castellanos Ordóñez (Chair), Jorge Silva Luján, and Andrés Escobar Arango.
Integrantes: Fabio Castellanos Ordóñez (Presidente), Jorge Silva Luján y Andrés Escobar Arango.
CORPORATE AFFAIRS COMMITTEE
The Committee is composed of two independent members and one proprietary member of the Board of Directors, with experience in finance, information security, and internal control. The Corporate and Conglomerate Risk Manager acts as secretary, and the Corporate Risk and Compliance Vice President attends as a permanent guest.
Its main function is to assist the Board of Directors in fulfilling its oversight responsibilities related to risk management within the Aval Financial Conglomerate.
Members: Fabio Castellanos Ordóñez (Chair), Jorge Silva Luján, and Andrés Escobar Arango.
CORPORATE GOVERNANCE COMMITTEE
The Committee is composed of the President and six Corporate Vice Presidents of Grupo Aval. The Corporate Legal Vice President also acts as secretary.
Its main function is to serve as the body responsible, in the first instance, for reviewing and evaluating the characteristics of transactions that may present conflicts of interest or potential conflicts of interest between Grupo Aval and the entities that make up the Aval Financial Conglomerate, related parties of the Aval Financial Conglomerate, and the administrators or decision-making personnel of the Conglomerate’s entities. It also monitors the implementation of the Company’s corporate governance best practices and, based on these and other matters submitted for its consideration, assists the Board of Directors in the process of continuous improvement in the adoption of good governance standards.
Members:
(i) President of the Company, (ii) Corporate Financial Vice President, (iii) Corporate Information Technology Vice President, (iv) Corporate Legal Vice President, (v) Corporate Risk and Compliance Vice President, (vi) Corporate Sustainability and Strategic Projects Vice President, and (vii) Corporate Financial Assets and Efficiency Vice President. You may consult the Committee’s regulations here.
Members: Esther América Paz Montoya (Chair), Fabio Castellanos Ordóñez and Luis Fernando López Roca.
TECHNOLOGY AND INNOVATION COMMITTEE
The Committee is composed of two independent members and one proprietary member of the Board of Directors, with experience in finance, cybersecurity, and information security. The Corporate Information Technology Vice President acts as secretary.
The Committee is composed of two independent members and one proprietary member of the Board of Directors, with experience in finance, cybersecurity, and information security. The Corporate Information Technology Vice President acts as secretary.
Members: Luis Carlos Sarmiento Gutiérrez (Chair), Mauricio Salgar and Jorge Silva Lujan.
ENVIRONMENTAL, SOCIAL AND GOVERNANCE (ESG) COMMITTEE
The Committee is composed of three independent members of the Board of Directors, with experience in Corporate and Governance matters, Legal Affairs, Energy, and Strategic Planning. The Corporate Sustainability and Strategic Projects Vice President acts as secretary.
Its main function is to ensure that ESG matters are strategically integrated into the operations of the Company and its subsidiaries, defining goals and objectives to ensure that the Company continues to be a responsible and competitive actor that meets the needs and expectations of its stakeholders.
Members: Andrés Escobar Arango, Mauricio Salgar, and Luis Fernando López Roca.
COMPENSATION COMMITTEE
The Committee is composed of Dr. Luis Carlos Sarmiento Angulo and proprietary member Mauricio Cárdenas Müller of the Board of Directors.
The Company’s Compensation Committee is responsible for setting the President’s remuneration and defining the parameters by which the President determines the compensation of senior executives and other employees.