Governance – BALFIN

Corporate Governance

BALFIN Group complies with legislation in all countries where it operates, as well as with its own Code of Ethics and Professional Conduct. At BALFIN Group, corporate governance ensures that our processes, procedures and policies are implemented according to the principles of transparency and accountability, in compliance with our values and vision. Our corporate governance relies on:

Comprehensive and objective business ethics;
Aligned business goals;
Strategic management;
Efficient administration;
Disclosure, transparency and accountability;
Innovation and continuous development;
Compliance with laws and regulations in force and BALFIN Group’s “Code of Ethics and Professional Conduct”;
Human resources management.

Download BALFIN Group’s Corporate Governance Directive:

Governance Bodies

BALFIN Group has the following decision-making bodies:

Edlira Muka

Chief Executive Officer

Steven Grunerud

Vice President – Strategy Development

Juljan Mane

Vice President - Retail

Ardiana Sokoli

Vice President - Real Estate

Csaba Toth

Vice President - Real Estate Asset Management

Ervin Kajno

Chief Projects Officer

Blerina Daka

Chief Audit Executive

Arsim Papraniku

Board Member

Martin Mane

Vice President North America

Leons Tuda

Chief Finance Officer

Matilda Shehu

Chief Transformation Officer - Transformation Department

Itena Ndroqi

Director - Legal Department

Gjergji Spaho

Chief Informations Officer - Informations System Division

Agim Fjolla

Director - Communications Department

Elvin Nosi

Director - Human Resources Department

Leons Tuda

Chief Finance Officer - Corporate Finance Department

Ervin Kajno

Chief Projects Officer - Corporate Projects Department

Blerina Daka

Chief Audit Executive

Departments

HUMAN RESOURCES DEPARTMENT

Supports implementation of the Balfin Group vision and values by promoting an open communication and cooperation culture.
Establishes key HR policies and guidelines at Group level to achieve contemporary management, development and retention of the human capital.
Builds employee commitment to Group’s goals and values, and ensures that Balfin Group remains an attractive employer for current and potential employees.
Ensures the Group has the knowledge, skills and abilities to accomplish current and future business plan goals.
Advances common approaches to contemporary performance management, compensations and talent identification and development across the Group in order to enhance the Group’s competitive position in the marketplace.
Ensures that employees have a work environment that supports their well-being.

LEGAL DEPARTMENT

Supports proactively management executives and all group companies in all legal matters and regulatory framework.
Ensures legal compliance of all contractual obligations entered by the Group companies.
Advices all Group companies on any legal matters raised including efficient defense strategies.
Researches and evaluates different legal risk factors regarding business decisions and operations;
Provides legal interpretation and clarification on any law dispositions or specific law to all Group companies
Drafts and unifies draft agreements, contracts and other legal documents to ensure the company’s full legal rights.

FINANCE DEPARTMENT

Guides the Finance functions across the Group with an ultimate purpose to contribute in maximizing Group and shareholder value.
Measures performance of companies, business units and operating sectors so that improvement or deterioration is visible and the underlying causes are understood and communicated.
Advices in deployment of equity towards most profitable projects, forecast and communicates business changes so that management can shift between opportunities.
Provides management with quality, relevant and time sensitive information for a better informed decision making process on strategic and operational level.
Ensures application of highest standards of financial reporting across the Group based on well acknoledged international standards and best practices.
Ensures compliance of tax laws for the Group and its companies, works to achieve maximization of tax savings and optimization for the Group.
Manages and forecasts the Group’s liquidity needs, ensures that liquidity needs are met, optimizes borrowing costs and generates revenues through use of financial instruments.

COMMUNICATION DEPARTMENT

Influences the way the stakeholders, perceive Balfin Group and shapes its reputation and the way in which it is held.
Informs, influences and guides the Group’s strategy in relation to the stakeholders.
Provides the overall guidance, supervision and management function related to strategic communication, internal and external, marketing communication, CSR, media relations and more to Balfin Group and Group’s companies.
Leads the Group companies in utilizing wide range of communications tools and channels to deliver integrated communications programs that articulate the company’s key messages, business priorities and growth initiatives.
Develops, manages and executes internal communication strategies and tactics designed to inform, align and engage the workforce at all levels in collaboration with the HR department.
Develops crisis communication plan and strategy for every company together with company CEOs and Managing board Member.

INFORMATION TECHNOLOGY DIVISION

Supports infrastructure by building a suitable and functional environment on which a variety of applications can operate.
Ensures that IT infrastructure is stable and at the same time enables the communication of all constituent nodes of Balfin Group.
Supports business applications by creating the necessary mechanisms for the most efficient and effective use and implemented applications for the realization of business operations. These mechanisms aim at placing technological tools in the service of work processes.
Ensures business security and protection by taking preventive and corrective measures to protect Information Systems from External or Internal Risks.
Ensures implementation and coordination of various IT solutions in the entire life cycle of an Application. The cycle starts from identifying a business issue to supporting an Implemented Application.

CORPORATE PROJECTS DEPARTMENT

Drives the creation of new businesses and project management from the initiation phase to the closure phase and eventually the creation of a new company.
Ensures implementation of planned or ad hoc assignments as delegated by the President of the Group and manages a variety of situations that may arise unforeseen in the projects or companies of the Group which are in the initial phase of operation.
Evaluates Group initiatives and coordinates Group policies with those of Public Institutions.
Drives cooperation and coordination between Balfin Group its companies in evaluating the strategic alternatives for new business creation and growth.
Implements fair and balanced analysis in evaluating alternatives in creating new business development strategies and improving existing experiences.

INTERNAL AUDIT DEPARTMENT

Plans and oversees audits to assess controls, operational efficiencies and compliance with all policies, procedures and regulations;
Prepares and completes detailed audit work for certain audits;
Assesses audit findings including control weaknesses with an appropriate degree of professional skepticism, seeking to fully understand risks;
Recommends revisions and/or additions to policies and procedures in order to improve operations as well as internal controls;
Responds to ad hoc requests to address control issues on new business processes, policies and procedures, and provide consultative services to management;
Reviews operational and finance department business processes and suggests ways to improve such processes;
Applies comprehensive knowledge of auditing practices, procedures and principles, sufficient to interpret and analyze complex concepts and apply them in innovative ways;

TRANSFORMATION DEPARTMENT

Leads the digital strategy for the Group’s future and ensure that all relevant digital initiatives are fully integrated into the strategic-planning process for leadership commitment, resource allocation and execution.
Leads the development of a structured digital transformation roadmap to implement the identified improvement areas.
Oversees the implementation of information technology strategic plans, policies, programs and schedules for business and finance data processing, computer services, network communications, and management information services to accomplish corporate goals and objectives.

Code of Ethics and Professional Conduct

One of the main indicators of our success is the ethical behavior of its people. Our reputation, both as individuals and as corporate, depends on it. Everyone in Balfin Group has a responsibility to make sure on a daily basis that the name “Balfin” remains synonymous with excellence and professionalism. Our customers place their trust and money in us and in the work that we do. Each employee adheres to the highest ethical standards, not only providing services of the highest quality, but creating a business environment that reflects the fundamental beliefs of the Group including integrity, confidentiality and responsibility.
We as all responsible and law-abiding business organizations act according to the laws, rules and regulations of the State. Our leadership has taken reasonable steps towards the development, implementation and maintaining an effective legal compliance program and the board is periodically reviewing such efforts to gain reasonable assurance that they are effective.

Download code of ethics and professional conduct: