Sec. 249. Senior management

639 words·~3 min read·/bill/113/hr/2821/ih/section-249

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

Senior management shall support the chief executive officer in the discharge of the responsibilities of the chief executive officer. The chief executive officer shall appoint such senior managers as are necessary to carry out the purpose of AIFA, as approved by a majority vote of the voting members of the Board of Directors. Each member of senior management shall serve at the pleasure of the chief executive officer and the Board of Directors. Any member of senior management may be removed, either by a majority of the voting members of the Board of Directors upon request by the chief executive officer, or otherwise by vote of not fewer than 5 voting members of the Board of Directors.

Each member of senior management shall report directly to the chief executive officer, other than the Chief Risk Officer, who shall report directly to the Board of Directors. The Chief Financial Officer shall be responsible for all financial functions of AIFA. At the discretion of the Board of Directors, specific functions of the Chief Financial Officer may be delegated externally. The Chief Risk Officer shall be responsible for all functions of AIFA relating to— the creation of financial, credit, and operational risk management guidelines and policies; credit analysis for infrastructure projects; the creation of conforming standards for infrastructure finance agreements; the monitoring of the financial, credit, and operational exposure of AIFA; and risk management and mitigation actions, including by reporting such actions, or recommendations of such actions to be taken, directly to the Board of Directors.

The Chief Compliance Officer shall be responsible for all functions of AIFA relating to internal audits, accounting safeguards, and the enforcement of such safeguards and other applicable requirements. The General Counsel shall be responsible for all functions of AIFA relating to legal matters and, in consultation with the chief executive officer, shall be responsible for ensuring that AIFA complies with all applicable law. The Chief Operations Officer shall be responsible for all operational functions of AIFA, including those relating to the continuing operations and performance of all infrastructure projects in which AIFA retains an interest and for all AIFA functions related to human resources.

The Chief Lending Officer shall be responsible for— all functions of AIFA relating to the development of project pipeline, financial structuring of projects, selection of infrastructure projects to be reviewed by the Board of Directors, preparation of infrastructure projects to be presented to the Board of Directors, and set aside for rural infrastructure projects; the creation and management of— a Center for Excellence to provide technical assistance to public sector borrowers in the development and financing of infrastructure projects; and an Office of Rural Assistance to provide technical assistance in the development and financing of rural infrastructure projects; and the establishment of guidelines to ensure diversification of lending activities by region, infrastructure project type, and project size.

The Board of Directors, in consultation with the chief executive officer, may alter the structure of the senior management of AIFA at any time to better accomplish the goals, objectives, and purposes of AIFA, except that the functions of the Chief Financial Officer set forth in subsection

(e)shall remain separate from the functions of the Chief Risk Officer set forth in subsection (e). No individual appointed to senior management may— hold any other public office; have any financial interest in an infrastructure project then being considered by the Board of Directors, unless that interest is placed in a blind trust; or have any financial interest in an investment institution or its affiliates, AIFA or its affiliates, or other entity then seeking or likely to seek financial assistance for any infrastructure project from AIFA, unless any such interest is placed in a blind trust during the term of service of that individual in a senior management position, and for a period of 2 years thereafter.