Board of Directors

The BNDES’ Board of Directors comprises eight members: the president, the vice-president and six managing directors, all appointed by the president of the Republic.

The activities performed by BNDES are organized in subdivided operational divisions, responsible for granting credit, follow-up and support aimed at corporate support activities.

Within the operational divisions, work is performed by multidisciplinary teams. This procedure intends to ensure broad and efficient project analysis, using each professional’s technical training. This multidisciplinary nature enables employees to be knowledgeable about the entire process in which he/she is included and not only his/her part.

The BNDES’ main decisions are made by the Board of Directors in keeping with the purposes and objectives established in its Bylaws, and with higher-level guidance from the BNDES’ Advisory Board via proposals from divisions and their respective Managing Directors during ordinary or extraordinary weekly meetings (summoned by the president) in the form of decisions (of a specific nature) or resolutions (generic nature). However, there are other committee members with deliberative duties that involve the Deputy Managing Directors, besides the Managing Directors, as can be seen in the following table.

The BNDES’ main executive committees
Committee	Composition	Duties
Planning Committee	President; Vice-President; Managing Directors; Head of the President’s Office; Deputy Managing Directors	Coordinate the set-up and follow-up of corporate strategy, besides promoting its annual update; and Assess the results achieved and discuss the incorporation of adjustments as well as improvements to corporate strategy
Managerial Committee	Deputy Managing Directors; Head of the President’s General Office; Head of the Planning Division’s Corporate Strategy Department	Oversee the efficient implementation of credit, financial and corporate operational policies; Promote the strengthening of the relations between fundamental units; and Oversee the fulfillment of decisions and resolutions of a managerial nature, originating from the Board of Directors.
Credit and Eligibility Committee (CEC)	Deputy Managing Directors for Planning, Credit, Industrial, Infrastructure, Basic Inputs, Social Infrastructure, Foreign Trade, Indirect Operations, Capitals Market, Entrepreneur Capital, the Environment, International Financing, Legal	Analyze applications for financial support in the consultation letters; and Decide on eligibility in operational policies, communicating with the Board of Directors.
Budget Committee	President; Vice-President; Managing Directors; Head of the President’s Office; Head of Auditing; Deputy Managing Directors*	Establish the guidelines to draft the budget proposal; Follow up on the budget performance; and Approve measures aimed at maximizing the cash-flow situation.
Risk Management Committee (CGR)	President; Vice-President; Managing Directors; Head of the President’s Office; Head of Auditing; Deputy Managing Directors*	Propose risk management policies for the market, liquidity, credit and operations; and Assess environmental risks.
Committee for Financial Affairs (CAF)	Deputy Managing Financial Directors, for Credit, Planning, Risk Management,* Capitals Market* and International*	Review the model that determines the basic spread; Suggest target scenarios for PL growth; and Suggest possible changes of the financial and credit policy to the Board of Directors.
Committee for Production Systems, Innovation, Local, Regional and Socio-Environmental Development (CAR-IMA)	President; Head of the President’s Office; Deputy Managing Industrial Directors for Basic Inputs, Infrastructure, Indirect Operations, Planning, Social Infrastructure, Entrepreneur Capital, Credit, Financial, the Environment, Agriculture and Cattle-raising and Social Inclusion, Human Resources, Economic Research; Advisor appointed by the President	Assess the instruments adopted by the BNDES, with a potential impact on production and innovation systems, as well as local, regional and socio-environmental innovation.
Funtec Advisory Council (CCTEC)	Deputy Managing Planning Director; career employees; Federal Government representative; external specialists	Assess requests for financial support in the Previous Consultations submitted to the BNDES within the Funtec scope.
Managing Committee for the Guarantee System (CGSG)	Credit, Industrial, Basic Inputs, Infrastructure, Social Infrastructure, Capitals Market, Environmental, Foreign Trade, Financial, Legal, Risk Management, Information Technology Division representatives	Oversee the standardization of procedures and the quality of information recorded in the Guarantee System (GRT); Define rules for access control to information handled by the GRT; Identify and follow up on possible GRT improvement opportunities; and Help guide and train the users.

* No voting right.