Alpha Bank is proceeding, as of October 2009, to a restructuring of its organisational model, in order to adapt to changes in the economic environment and be better positioned to pursue opportunities. In addition, this new structure ensures prompt decision-making and clear allocation of the respective responsibilities.
The key changes brought about through the new organisational model of the Bank are centred on three main pillars.
In particular:
Enhancement of the structure by the establishment of the position of Chief Operating Officer aiming to the further strengthening and prospective development of the Bank. Furthermore, the General Managers oversee the new managerial level of Supervising Divisions, as well as the Divisions and the Supporting Divisions.
Establishment of a new operational model for international activities
In line with the prevailing organisational model adopted internationally by banks with comparable profiles to Alpha Bank and bearing in mind the need for a safer exposure to risk, the central business and support Units of the Bank assume a more active role and will be accountable for the results of international activities jointly with the management of each country.
Streamlining and simplified allocation of hierarchical levels
About one quarter of the current Divisions and Departments of the Bank are eliminated or merged and hierarchical levels are simplified with homogenous titles at each level.
With this new organisational model Alpha Bank expects to achieve:
Top-line growth
On an international level, the new organisational model will allow the optimal leverage of expertise and best practices employed by the Retail and Wholesale Banking Units. In Greece, top-line growth should be the result of new product development and more effective coverage of both existing and new customer segments.
Cost control
The establishment of a strong Chief Operating Officer function, the reinforcement of back offices, the upgrading of procurement, the creation of a strong corporate-wide planning and control unit and the net reduction of managerial posts will bring about more effective control and operational cost reduction.
Transparency and effective risk management
The strengthening of the role of the Chief Financial Officer as regards risk management and financial management, the separation of responsibility for credit underwriting, the collaboration of the central support Units with the Group Companies abroad and the close monitoring of international collections and NPLs are the main interventions that aim to enhance risk management and the prompt notification of Shareholders.
Human Resources development
The upgrading of Human Resources functions and the establishment of new positions of responsibility set the ground for the development of a broader management bench which will constitute the driving force for the future development of the Bank.