Compliance, operational risk and tax compliance

Integrity and security for our clients’ protection

At VP Bank, compliance with regulatory standards and statutory provisions has highest priority.

Our Group-level Compliance and Operational Risk function is an important cornerstone of our business practices. Together with Group Executive Management, it helps to ensure that all activities are carried out in conformity with the applicable laws of the countries in which we operate.

Compliance focuses on the following areas:


Combating and preventing money laundering, fraud and terrorist financing, as well as preventing the avoidance of sanctions and embargoes, are key concerns of VP Bank Group. Working in close cooperation with the responsible authorities, our specialised teams identify, monitor and report suspicious activities. In this regard, we utilise IT-based technologies and analytical tools in order to minimise potential risks and protect our clients and the financial system.

Tax compliance

Complying with tax rules is a priority for us. Our experts keep up to date at all times on the changing tax legislation in the countries in which we operate. We ensure that tax obligations are met and work closely with tax authorities and tax experts to ensure that tax matters are handled properly.

Investment compliance

Our goal is to create long-term added value for our clients. In the process, we comply with all regulatory requirements with respect to investments. Our experts thoroughly review investments to ensure that they are in conformity with applicable requirements and are in the best interest of our clients.

Market conduct

Ethical principles, transparency and fairness are cornerstones of our business practices. We set high standards for conduct on the markets and observe all relevant market rules. This ensures that our clients can have faith in our services and count on a reliable partnership with VP Bank.

Cross-border compliance

Owing to our global presence, we understand the complex requirements associated with cross-border transactions. Our compliance experts make sure that transactions are carried out in conformity with the regulatory requirements applicable in all countries involved. This ensures the legal certainty and integrity of all cross-border transactions.

Operational risk (OpRisk)

VP Bank defines operational risk as potential losses or loss of profit incurred as a consequence of the inappropriateness or failure of internal processes, individuals, systems or as a result of external events.

In connection with structured risk management, risks associated with operational processes are identified, evaluated and managed, as well as monitored and reported on. Management of operational risks takes place in all VP Bank organisational units.

Operational risk is avoided through appropriate controls or, if this is not possible, reduced to a level acceptable to the Bank through mitigating measures. Controls to reduce risk are documented and monitored centrally in the internal control system (ICS).

We support risk management independently in organisational and functional terms, and we ensure throughout the Group that operational risks are monitored and reported on and that the methods employed are continuously enhanced. Moreover, VP Bank collects and analyses risk metrics in order to monitor significant operational risks.

In addition, loss events are recorded and analysed. The findings from the collection of loss data are integrated directly into the risk management process.

Our Group-level Compliance and Operational Risk function is an important element of our corporate culture and is supported by a global network of experts. In turn, we ensure that we meet the highest standards in terms of integrity and honesty, while at the same time protecting the interests of our clients.