Governance

Beyond Ratings has established several committees to ensure smooth
and efficient corporate governance in its daily operations as well as in
its most strategic decisions

Supervisory board

Mission
Board members

The Supervisory Board is composed of 9 members, among which 4 are independent members not involved in rating activities.

The Beyond Ratings Supervisory board has ultimate responsibility for ensuring that Beyond Ratings establishes, maintains, documents, and enforces a code of conduct that gives full effect to the IOSCO Code of Conduct Fundamentals for Credit Rating Agencies.

Among other tasks, the Supervisory Board is responsible for :

  • Overseeing the reflections on strategic guidelines in the mid- to long-term, including the definition of products, services offered, and capital operations
  • Ensuring the effectiveness of monitoring and control of rating activities, in accordance with the policies and procedures defined by Beyond Ratings
  • Making recommendations to the Executive Committee to improve Beyond Ratings’ internal control framework or to address any possible inefficiencies that could have been highlighted
  • Providing annually a report at the General Assembly of shareholders on the company’s accounts and business activity for the last year and on the achievement of its missions
  • Appointing the members of the Executive Committee: President and Managing Director(s) of BR.
  • Elizabeth Bertin

    Supervisory Board Member

  • Elizabeth Bertin

    Supervisory Board Member

    Elisabeth brings a career’s worth of experience within the EDF Group, covering fields as diverse as nuclear fuel, market finance, stock exchanges, financial ratings, corporate governance, and multi-media. Today, she coordinates at corporate level the follow-up of the European Commission’s work driven by the G20, in terms of financial regulation applicable to the environmental and energy markets. She represents France on this issue in the Association of European Energy Companies EURELECTRIC. Elisabeth holds several degrees in Mathematics and Civil Engineering, from Ecole des Mines de Nancy and Jussieu Paris VI.

  • Rodolphe Bocquet

    Co-founder & CEO

  • Rodolphe Bocquet

    Co-founder & CEO

    Rodolphe is a HEC-NYU graduate and holds a master of Ecole des Mines de Paris. He worked as a proprietary trader and risk manager on equity derivatives for Société Générale between 1994 and 2001. He then developed his skills in environmental finance and sustainable development while holding managing positions for several public entities (ADEME, Conseil régional d’Aquitaine, Agence Française de Développement)

  • Sylvain Château

    Co-founder & COO

  • Sylvain Château

    Co-founder & COO

    Sylvain started his career in strategy consulting at Booz Allen Hamilton and Roland Berger, and rapidly moved to the world of entrepreneurship. He developed Enerdata, a leading international provider of energy data and modeling for over 180 countries, for 10 years, as the CEO and major shareholder. He accompanied the management transition when the company was acquired. Sylvain is an ESSEC graduate (MBA).

  • Myriam Fernandez de Heriedia Martinez

    Supervisory Board Member

  • Myriam Fernandez de Heriedia Martinez

    Supervisory Board Member

    With 25 years of experience in the regulated financial services industry, Myriam brings her manifold expertise in ratings, risk analysis, public finance and corporate strategy. Her leadership of a team of 60+ rating analysts working out of 8 offices across the EMEA region was instrumental in driving S&P to the top of the CRA market in sovereign & international public finance. She also successfully led the implementation of CRA3 (Credit Rating Agency Regulation in Europe) for sovereigns and LRGs in the region. She holds an MBA from the University of Houston.

  • Geneviève Férone

    Supervisory Board Member

  • Geneviève Férone

    Supervisory Board Member

    Geneviève has made a career out of pioneering ESG ratings. She founded Arese (now Vigeo-Eiris), the first French extra-financial rating agency, and then directed Core Ratings, a subsidiary of Fimalac. Besides overseeing the sustainability departments at Eiffage and Veolia Environnement, she has co-founded several CSR consulting firms- Prophil and Casabee. She is a postgraduate of ESCAE Business School and Panthéon-Sorbonne University and a teacher and co-scientific director of the Master’s in Industrial Ecology at CentraleSupélec.

  • Élie Hériard Dubreuil

    Managing Director

  • Élie Hériard Dubreuil

    Managing Director

    Élie started in structured finance and credit risk modelling at Fitch Ratings, before furthering his quantitative skills in investment banking at CDC IXIS and the Group Caisses d’Épargne. Élie then had over 12 years different worldwide responsibilities at S&P Global, in rating and methodology for sovereigns, sub-sovereigns and financial institutions, notably head of supranationals. He also taught risk management at Sciences-Po.

  • Ubiratan Jose Clair

    Supervisory Board Member

  • Ubiratan Jose Clair

    Supervisory Board Member

    Since 1978, Ubiratan has held diverse roles within the Petrobas system, including CEO of TBG (Transportadora Brasileira Bolivia - Brasil). Throughout his career, he has worked on the negotiation and conclusion of M&A transactions, as well as business development in the Oil & Gas Industry. Ubiratan holds an MBA from the Federal University of Paraná, a Chemical Engineering degree from the Federal University of Rio de Janeiro- UFRJ, a Civil Engineering degree from the Veiga de Almeida University-RJ. and has attended several Executive training program at London Business School, Cambridge University, Oxford University, Insead and IMD Lausanne.

  • Jacques Ripoll

    Supervisory Board Member

  • Jacques Ripoll

    Supervisory Board Member

    Jacques bring more than 25 years of experience in various fields of the Finance industry. Starting at Société Générale within the Inspection Department, he then joined the Equity Derivatives department in 1998 and became Head of Equity Sales and Trading in 2013. He entered the Management Committee of the bank in 2006 as Head of Corporate Strategy, and the Executive Committee in 2009 as Head of Waelth Management (Asset Management, Private Banking, Investor Services and Newedge). Between 2013 and 2017 he was Senior Executive Vice President of Banco Santander, heading their division of Global Banking & Markets. He was appointed CEO of Crédit Agricole CIB in 2018. Jacques is a graduate of Ecole Polytechnique.

  • François Véron

    Supervisory Board Member

  • François Véron

    Supervisory Board Member

    François is the Managing Director of Newfund Capital, a $260M AUM entrepreneurial VC firm focused on early-stage investments in France and the U.S. He has 20 years of experience in the financing of start ups. François's early career included auditing at the French Ministry of Finance and corporate functions at Casino, a French Food retailer. He holds a BS in Finance from HEC and graduated from l’Institut d’Etudes Politiques de Paris in public administration. He is an alumni from ENA (Ecole Nationale d’Administration).

Executive committee

Mission
Committee

The Executive Committee is composed of four members.

The Executive Committee is responsible for the efficient management of the company. It defines the strategy ensures that the company’s development is achieved in line with our objectives, for the different activities. Its members are appointed by the Supervisory Board, and are granted powers to legally represent the company.

Among other tasks, the Executive Committee is responsible for :

  • Ensuring the day-to-day management of Beyond Ratings’ teams & activities
  • Providing to the Supervisory Board information on business performance and the main management indicators on a quarterly basis
  • Planning, organizing and budgeting the business activities to achieve optimal performance in line with the goals in the business plan
  • Monitoring evolutions in the business environment (opportunities, competition, regulation etc.) in order to prepare next action plans
  • Rodolphe Bocquet

    Co-founder & CEO

  • Rodolphe Bocquet

    Co-founder & CEO

    Rodolphe is a HEC-NYU graduate and holds a master of Ecole des Mines de Paris. He worked as a proprietary trader and risk manager on equity derivatives for Société Générale between 1994 and 2001. He then developed his skills in environmental finance and sustainable development while holding managing positions for several public entities (ADEME, Conseil régional d’Aquitaine, Agence Française de Développement)

  • Sylvain Château

    Co-founder & COO

  • Sylvain Château

    Co-founder & COO

    Sylvain started his career in strategy consulting at Booz Allen Hamilton and Roland Berger, and rapidly moved to the world of entrepreneurship. He developed Enerdata, a leading international provider of energy data and modeling for over 180 countries, for 10 years, as the CEO and major shareholder. He accompanied the management transition when the company was acquired. Sylvain is an ESSEC graduate (MBA).

  • Élie Hériard Dubreuil

    Managing Director

  • Élie Hériard Dubreuil

    Managing Director

    Élie started in structured finance and credit risk modelling at Fitch Ratings, before furthering his quantitative skills in investment banking at CDC IXIS and the Group Caisses d’Épargne. Élie then had over 12 years different worldwide responsibilities at S&P Global, in rating and methodology for sovereigns, sub-sovereigns and financial institutions, notably head of supranationals. He also taught risk management at Sciences-Po.

  • Valéry Lucas-Leclin

    Managing Director

  • Valéry Lucas-Leclin

    Managing Director

    With almost 30 years of experience in SRI research, Valéry began his career at AReSE (now known as Vigeo Paris) as their Senior SRI Analyst and Head of Research. He then went on to hold directorial positions in SRI at another rating agency (INNOVEST) and 3 brokers (CM-CIC Securities, Société Générale, BofA Merrill Lynch). In 2014, he founded Grizzly RI, an innovative research firm which develops ESG and climate/CO2 quantitative models (recently acquired by Beyond Ratings). Valéry is a graduate of Sciences Po Paris and has published many academic and professional pieces on SRI.

Compliance

Role and duty
Independence

The Compliance Function's responsibility is to oversee the adherence of Beyond Ratings and its Employees to applicable regulatory requirements as well as to the Beyond Ratings Code of Conduct and policies and procedures.

The Compliance Function is performed by the Compliance Officer, who is notably in charge of :

  • monitoring and assessing the adequacy and effectiveness of the measures put in place to ensure the compliance with applicable regulatory requirements, among which EC Regulation No 1060/2009, as well as with the Beyond Ratings Code of Conduct and policies and procedures.
  • monitoring and assessing the actions taken to address any deficiencies that could have been identified
  • advising and providing guidance to Management and Covered Employees to comply with those rules
  • participating in the development and update of the Beyond Ratings Code of Conduct, policies and procedures in order to ensure they remain fully in line with regulatory requirements at any time
  • informing concerned staff of any new policy or procedure or any change in existing ones
  • monitoring and assessing the adequacy and effectiveness of the measures put in place to ensure the identification and elimination of any actual, potential or perceived conflicts of interest according to the Policy to address and manage conflicts of interest
  • designing measures to ensure identification and elimination of conflict of interest
  • ensuring the effectiveness and quality of record keeping policy in accordance with the Information Recording Process through regular control
  • performing the monthly audit of the rights and permission granted to Covered Employees to access to specific folders as set out in the Information Processing System Description
  • ensuring that the methodologies validated by the Methodology Committee are effectively used within the rating process, through random analysis of issued Credit Ratings in coordination with the Review Officer
  • maintaining the relationship with regulatory authorities and providing any required information (regular and on-demand reporting)
  • ensuring the effectiveness of regulatory disclosure
  • reporting on the carrying out of Compliance Function’s duties to the Supervisory Board on a quarterly basis. The Management does not receive or approve compliance reports prior to their submission to the Supervisory Board.
  • performing at least quarterly and, when deemed necessary, monthly calls or meetings with the Independent Members of the Supervisory Board
  • ensuring that any new employee, at the signature of their employment contract, and all Covered Employees once a year, have agreed to comply with the Beyond Ratings Code of Conduct, policies and procedures, and - defining and carrying out the compliance work plan on an annual basis
  • defining and carrying out a compliance training plan intended for Covered Employees on an annual basis
  • ensuring that Covered Employees fill in and sign the Déclaration de conflits d'intérêt (Statement of Conflicts of Interest) and that the Review Officer fills in and signs the Déclaration de conflits d'intérêt - Review Officer (Review Officer Statement of Conflicts of Interest) on an annual basis

The Compliance Officer reports administratively to Beyond Ratings' CEO and functionally to the independent members of the Supervisory Board. In order to reinforce the independence of the Compliance Function, only those independent members can terminate the Compliance Officer’s employment contract.

The Compliance Officer operates independently from the analytical activity and the business development teams, and at arms’ length with other functions as necessary. He/she is not involved in the determination of credit ratings or in commercial discussions regarding fees payed by Issuers.

The compensation of the Compliance Officer is not linked to the performance of Beyond Ratings' credit rating activities.