On January 31, 2020, the Board of Directors decided to constitute two committees:
- Committee for Legal Affairs & Europe and
- Risk & Compliance Management Committee.
These are composed of representatives of the Ordinary Members appointed for a period of three years by resolution of the Board of Directors. In addition to promoting professional discourse, their other tasks are to form substantive positions and formulate recommendations to the Board of Directors to assist it in fulfilling its duties. To ensure the quality of the discussions, the chairs also invite associate members and external experts.
committee on legal & european affairs
The Legal Committee monitors and comments on legal developments at German and European level that are relevant to the digital lending industry. It supports the Board of Directors in solving specific issues and deals with the relevant political and legal topics in its ongoing work. In addition, the Legal Committee drafts and maintains standards and guidelines for the work of digital lenders with the aim of establishing them throughout the industry.
Committee on Risk & Compliance Management
The identification of all material risks and risk factors, their measurement and analysis, and a sustainable risk strategy are crucial for successful risk and compliance management. The Risk and Compliance Management Committee monitors and comments on developments relevant to the digital lending industry in the thematically relevant areas and develops best risk practice for the work of digital lenders with the aim of establishing this across the industry. It supports the Board of Directors in solving specific issues and addresses the topics arising from the day-to-day business of member companies in its ongoing work.