To deal with the COVID-19 pandemic, Banco Comercial Português activated the Contingency Plan, provided for in the Business Continuity Plan. The application of the Contingency Plan covers several dimensions of the Bank's Governance level, among which we highlight:
- Interaction with Supervisors:
Twice a week, the Executive President and the Executive Directors responsible for Risk and Operations meet remotely with supervisors. On a more recurrent basis, which can be daily, supervisors interact with the Bank's Directors responsible for the areas most critical to the smooth operation of the Bank.
- Efficient response to risks posed by the pandemic, based on three axes:
a) Control at Group level - where resources and best practices applied in each geography in which the Bank is present are shared, benefiting from the fact that the Chief Risk Officer is transversal to all operations;
b) Executive Control - which is carried out from 3 different buildings, since the members of the Executive Committee were separated to avoid possible cross-contamination. The Bank's Executive Committee is responsible for making strategic decisions and analyzing the main impacts at the level of each operation;
c) Operational Continuity - activation of the Crisis Management Group (CMG), which includes all members of the Executive Committee and the Directors responsible for the Bank’s most critical business and support areas. The CMG meets twice a week, making decisions that are tailored to the situation at every moment.
- Employee and Customer Safety:
In order to protect employees and customers who visit the branches, a set of measures was taken, which include: increased cleaning and disinfection of workplaces and branches; distribution of personal protective equipment, including acrylic screens to enhance separation in customer service; work-from- home for employees with the greatest health risks; online medical assistance for all employees; application of a preventive measure that only allows branches to have a number of customers equal to or less than the number of employees available for personalized service; and increased communication with employees and customers, among other actions.
- Ensuring the continuity of commercial activity:
At the moment, the bank has almost half of its employees working from home, significantly mitigating the spread of the virus. With regard to the critical areas for the business, the percentage of teleworkers is over 75%, with the separation of the teams that remain at the bank across several physical facilities also being promoted in these cases. Examples of this physical segregation include the Call Center (which is now operating in four locations), Treasury, the Executive Committee (as mentioned above) and Operations, among others.
Critical service providers for the Bank were also identified and required to present their respective Contingency Plans for the current situation, with the objective that the critical activities in which they participate continue to be provided without restriction.
The actions outlined above allow Millennium bcp to continue to operate and serve its customers normally and without major disruption. The bank has promoted and will continue to promote the migration of customers and operations to digital channels, in order to intensify the dematerialization of transactions and commercial interactions.