Woori Bank reduced the number of vice presidents from 23 to 18 and also downsized its headquarters organization from 20 groups to 17.
Woori Bank noted on the 12th that it carried out a reorganization and executive appointment focused on human renewal and organizational slimming.
Among the existing vice presidents, 11 have retired, and 6 have been promoted to vice president. Included among the new vice presidents is someone born in 1971.
The age of overseas corporation heads has also been significantly lowered. Breaking away from the practice of placing executives who had completed their terms as vice presidents in key overseas head positions, the bank selected a Deputy Minister born in the 1970s.
The reorganization abolished the previous method where two sector heads were in charge of groups under the domestic banking sector and corporate investment banking sector. The bank explained that this is intended to enhance the independence and responsible management of each group head.
Additionally, the personal group, wealth management group, and corporations group have been reorganized from a business-centered approach to a customer-centered approach, and similar departments have been merged.
The investment banking group has been separated from the existing corporate and investment banking group to focus on synergy creation with Woori Investment & Securities and Woori Asset Management.
To strengthen internal controls, the money laundering prevention center and the credit management department have been elevated to headquarters level, and a task support team has been newly established within the compliance monitoring office.
In particular, the information security headquarters and the money laundering prevention headquarters were repositioned under the compliance monitoring officer to eliminate some overlapping internal control functions.
The bank explained that while the overlapping workload of branch employees has been significantly reduced, time has been secured to focus more on the core tasks of internal control.
Furthermore, to implement internal controls without blind spots among organizations such as compliance monitoring, financial consumer protection, information security, and money laundering prevention, a consultative body made up of responsible executives will be newly established.
The risk management group, which was operated as an integrated organization of the holding company and the bank, will be separated to operate according to the characteristics of each organization.
Jung Jin-wan, the candidate for the next bank president, will strengthen the supply chain finance platform 'OneBiz Plaza,' which he had emphasized during his term as vice president of the small and medium enterprises group.
In the sales organization, the 'branch VG (Value Group)' system, which combined 5 to 6 nearby branches for joint sales and cumulative evaluation, will be abolished starting next year. This change emphasizes detailed customer management and swift sales promotion at the individual branch level.
In addition, a task force team for innovative management will be launched for comprehensive organizational renewal.
On the same day, Woori Financial Group carried out a regular personnel change, replacing 3 out of 9 executives. A department head born in the 1970s was promoted to a senior executive in the management support and brand divisions, and a Deputy Minister was appointed as vice president in the growth support division.