Amundi - Corporate Social Responsibility Report 2015

Act as a responsible financial institution Honouring the promise made to clients

2.2.3.2 Risk management Limiting risks and honouring its obligations are basic to the relationship of trust that Amundi has with its clients. Investments are audited by staff who are independent of fund management personnel. Auditing is part of Amundi’s Steering and Control Department, whose main mission is to protect the client’s interest. Its role is to ensure, through a dedicated information system, that the investment constraints requested by clients or required by regulations are observed. To keep the value creation chain secure, Amundi has established a risk function that is independent and globally integrated. This organisation, deployed in all Group entities, guarantees investors that we will meet our obligations, be they contractual or regulatory. Risk control personnel install and monitor an internal system to regulate management processes, in three phases: p devising, in systematic fashion, internal control rules and regulations specific to each investment strategy, based on a preliminary identification of the risk factors that underlie performance; p overseeing on a daily basis the management actions taken, to check that the investment decisions and the positions in the portfolios are in keeping with the management rules and the objectives sought; p evaluating ex post the quality of the management processes, based on independent measurements made using proven methodologies.

To ensure the principle of fiduciary duty, Amundi prepares and sends two documents to its clients, the prospectus and the KID (Key Information Document), describing the conditions on which the fund is managed, as well as the relationship between yield and the level of risk associated with such management. Several indicators reflecting the risk level of funds are included in these documents. The are calculated independently by the Risk Department. In 2015 continued improvement was made to the system for regulating funds in order to make investing activities on our clients’ behalf more secure. This work focused on the following points: p using more effective indicators to measure funds’ liquidity; p validation by an outside audit of the calculation of market risks, this being the subject of a multi-year project that concluded in mid-2015.

Headcount at 31/12/2015 (in FTE)

Compliance Business line

57

Risk Management Business line

168.1

Audit Business line

21.5

As % of total headcount

8%

AMUNDI — 2015 CORPORATE SOCIAL RESPONSIBILITY REPORT

19