International Monetary Conference

“Regular members of the imc annually elect the organization's officers and board of directors, which acts as the conference's governing body. The board of directors has sole discretion to select criteria used in determining eligibility for membership.”

“Organizations eligible for membership will be those that are engaged principally in financial services and have significant roles in the global economy.”

“In addition to the annual elections, the regular members vote on major corporate actions as required by the membership and amendments to the bylaws.”

“There are no committees with authority to act on behalf of the board.”

“The cfao of the american bankers association serves as appointed cfo of the imc. A separate audit of the imc is conducted under the governance of the american bankers association. Aba's management, which includes certified public accountants, conducted several internal reviews of the completed form 990 which was prepared by an outside accounting firm.”

“Imc monitors and enforces its conflicts of interest policy at least annually, having each officer, and member of the board of directors attest by signature that they have read, understand, and are in compliance with the policy. On an annual basis, the board is provided a copy of the policy, offered an opportunity to discuss its requirements, and have any questions answered. Aba staff attends the meetings of the board in order to monitor compliance with the requirements and that the minutes of the meetings fairly represent the discussions of the board.”

“The international monetary conference (imc) does not compensate its board of directors or officers. Compensation and benefits paid for the officers are paid by the related organization, the american bankers association. The compensation policy of the american bankers association are as follows: the officers shown on schedule j part ii are employees of the related organization, american bankers association (aba). Aba's compensation committee, comprised of board of director members, is responsible for reviewing the compensation of the association's key employees and makes the final compensation recommendation to the board of directors, which has final approval. The process used by the compensation committee is made in conjunction with an outside independent consulting firm that conducted a comprehensive compensation study for the association. The methodology used included the following: - utilizing salary surveys, including those from mercer, watson wyatt, prm consulting, quatt associates and asae, jobs were benchmarked to comparable positions. - the outside compensation consulting firm reviewed applicable market data and the benchmarked position information and developed a market-based pay structure. - additional factors considered were position requirements, organizational impact, and job complexity. - minutes are kept of the compensation committee's deliberations and decisions regarding compensation arrangements. The process described here was last completed in 2024.”

“Imc does not make its governing documents, conflict of interest policy, or its financial statements available to the public. The organization's form 990 is available for public inspection upon request.”