Institutional Risk Management

The National Savings Fund (FNA) has a system in place to manage and control operational risks, in accordance with the regulations issued by the Financial Superintendence of Colombia, particularly the provisions set forth in the Basic Financial Circular (External Circular 004 of 2026).

Through the SIAR Manual, the National Savings Fund (FNA) establishes the policies for identifying, assessing, and managing operational risks within its processes. The organization has a technological tool that enables the consolidation and management of corporate risks, contributing to safer and more efficient operations for its members and financial consumers.

It is the possibility that the entity incurs losses and decreases the value of its assets because a debtor or counterparty fails to meet its obligations.

From a regulatory standpoint, the entity complies with Chapter XXXI of Circular 018 (September 2021), Part II, numeral 2. This is implemented through the SIAR Comprehensive Risk Management Manual and the SIAR Credit Risk Management Manual, which define guidelines for origination, monitoring, control, and recovery stages of credit operations.

It is the possibility that an entity incurs losses associated with a decline in the value of its own or third-party portfolios under management due to price variations in investments held on- or off-balance sheet.

From a regulatory standpoint, the entity complies with Chapter XXXI of Circular 018 (September 2021), Part II, numeral 3. Compliance is carried out through the SIAR Manual and the SIAR Market Risk Management Manual, which establish policies, limits, and strategies for proper risk management.

It is the possibility that an entity incurs losses associated with the contingency of not being able to fully, timely, and efficiently meet expected and unexpected current and future cash flows, without affecting daily operations or financial condition.

Funding liquidity risk is reflected in insufficient liquid assets to meet cash flows or in the need to assume unusual funding costs.

Market liquidity risk occurs when the entity's ability to create or unwind financial positions at market prices is limited due to insufficient market depth or abrupt changes in rates and prices.

Regulatory compliance is based on Chapter XXXI of Circular 018 (September 2021), Part II, numeral 5, through the SIAR Manual and the SIAR Market Risk Management Manual.

This is the current or prospective risk to capital and earnings arising from adverse movements in interest rates that affect positions in the banking book.

When interest rates change, present value and timing of future cash flows may be affected. This impacts the underlying value of assets, liabilities, and off-balance-sheet items, and therefore the Economic Value of Equity (EVE). It also affects Net Interest Margin (NIM).

Regulatory compliance is based on Circular 025 (September 2022), Chapter XXXI, Part II, numeral 10, through the SIAR Manual and the SIAR Interest Rate Risk in the Banking Book Manual.

The Information Security Policy states management's position regarding the protection of information assets, implementation of the Information Security Management System, and publication of policies, procedures, and guidelines. The National Savings Fund recognizes information as one of its most valuable assets and aligns its controls with legal and regulatory requirements.

The National Savings Fund has a prevention and control system for money laundering and terrorist financing. The SARLAFT Manual and the Ethics Code Manual include policies related to customer knowledge, transaction profiling, market knowledge, unusual transaction analysis, and suspicious transaction reporting to the UIAF.

To verify compliance, the entity has appointed a Principal and an Alternate Compliance Officer, duly registered before the Financial Superintendence of Colombia, supported by qualified personnel and technological infrastructure.

The National Savings Fund has an Anti-Corruption and Citizen Service Plan to prevent risks that may arise in institutional processes, aligned with the Entity's Strategic Plan and administrative development policies under the Integrated Planning and Management Model, in accordance with Decree 2482 of 2012.