Management Committees

 

Executive Committee

 

The Executive Committee is composed of five members; the Chief Executive Officer, the Chief Risk Officer, the Chief Financial Officer, the Chief Commercial Officer, and the Chief Legal Officer.

Formulation of risk strategies and risk profiles, including policies conducive to the achievement of organisational goals, are the responsibility of the Executive Committee, however implementation is delegated to the Departmental Heads through a formally documented organisational structure with clear and transparent demarcation of functional responsibilities. The Executive Committee is also responsible for assessing credit facilities and taking credit decisions as prescribed in the Bank’s credit policy.

Various senior members of the Bank’s management attend the meetings of the Executive Committee by invitation.

The Executive Committee has established the following management committees within the Bank:

 

Assets and Liabilities Committee

 

The Assets and Liabilities Committee (ALCO) meets on a monthly basis to analyse financial information and to assess the impact that the various types of risks arising from changes in interest rates, exchange rates and the market, have on the profitability of the Bank and the various other components of the financial statements. This Committee also monitors the commercial activity of the Bank, reviews risks to liquidity and capital, and plays a vital role in the management and mitigation of the same risks.

The ALCO is made up of the Members of the Executive Committee, the Head of the Treasury Function, the Head of the Business Development Function, the Head of the Retail Function, Head of Corporate Function, the Head of Financial Management Function and the Head of Risk Control and Oversight Function. Other Bank officials may be invited to attend meetings depending on the agenda to be discussed or when determined by the Committee.

 

Investments Committee

 

The Investments Committee meets with the aim to discuss the investment strategy and specific investments for the Bank’s proprietary portfolio. The objective of the Committee is to achieve returns for the Bank in line with the Bank’s liquidity; capital adequacy; risk and profitability goals.

The Investments Committee meets at least once every two months. It includes Members of the Executive Committee and the Head of Treasury Function.

 

Credit Committees

 

These Committees are responsible for assessing credit facilities and taking credit decisions within certain monetary and risk bands. The Committees are coordinated at three different levels, each assigned a sanctioning limit under which they operate. If a divergence in the respective committee level exists, the lending decision would need to be taken one authorisation level upwards.

The Committees meet as frequently as necessary and comprise of officials from the Commercial Function and the Credit Analysis Function. Each Committee is chaired by the Credit Analysis Function member.

 

Products Oversight Committee

 

The Products Oversight Committee’s main purpose is that of discussing and implementing projects in relation to new products, new services, channels and/or changes to existing products.

The Committee is made up of senior members from a number of functions, mainly Product Strategy, Corporate Banking, Retail Banking, Regulatory Compliance, Risk Control and Oversight, Credit Operations, Credit Analysis, Financial Management, Treasury and Information Systems. The Product Strategy function is responsible for the chairing and steering of this Committee. With effect from January 2021, the Legal function also joined this committee.

 

Environmental, Social and Governance Committee

 

The Environmental, Social and Governance (ESG) committee’s main purpose is to define the Bank’s practices relating to ESG matters. The committee is made of the Chief Risk Officer (Chairperson), Chief Commercial Officer (Deputy Chairperson), Head of Risk Control and Oversight Unit, Head of Financial Management Department, Head of Business Development Department, Head of Corporate Services, and Senior Manager Regulatory Compliance.

 


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