Role of Board and Board Committees

December 2, 2016

Role of Board and Board Committees

Board of Directors

Primary purpose is set the corporate direction, culture and to provide effective governance over the bank’s affairs for the benefit of all its shareholders, and to balance the interests of its diverse stakeholders, including its customers, employees, suppliers and local communities.

Executive Chairman

As guided by the board’s strategic objectives, the role of the Executive Chairman is to articulate the corporate direction set by the Board. The Executive Chairman’s role is to provide guidance on the strategic action plans for business development while at the same time ensuring effective risk management is in place and properly managed. The Executive Chairman takes the leadership role and is responsible to ensure good corporate governance, transparency and proper delegation of duties acting as chairman of all board committees. He often fulfils the motivational role and leads the bank in developing and maintaining the bank corporate values.

Management Committee

Executes board’s and Executive Chairman’s decisions by designing and developing the strategic action plans. It is principal body upon which the managing director reports to and seeks approval for matters regarding the bank’s operations of management and supervision of the banks business. The committee is also active in providing recommendations to the board.

Managing Director

The Managing Director is responsible for implementing and monitoring the strategic action plans in a cost-effective and time-efficient manner. He has day-to-day responsibilities and is informed of everything that goes on in the bank and is directly responsible to raise the profitability and profile of the bank and to ensure effective risk management is in place.

Audit, Risk & Compliance Committee

Audit
To receive and consider reports and recommendations from management and to make recommendations to the board in respect of the financial reporting, accounting policies, systems for internal control and both internal and external audit processes.

Risk
To assist the board in fulfilling its oversight responsibilities on risk management policies approved by the board in respect of the risks inherent in the businesses of the bank and the control processes with respect to such risks; the risk profile of the Bank and the risk management, compliance and control activities of the Bank.

Compliance
To monitor the compliance systems in place by which management discharges its regulatory and legal obligations in respect of the bank’s business and to review compliance systems and procedures within the bank to monitor that there is appropriate disclosure to the board of areas of operating and non-financial risk.

In budget year of 2016-17, we have held the committees’ meeting as following.

Name of Meeting No of meeting
Board of Directors Meeting (BOD) 8 times
Human Resource Committee (HRC) 11 times
Audit, Risk and Compliance Committee (ARCC) 7 times
Credit Committee (CC) 48times

The following is the attendance of the directors in board meeting.

No Name of Directors 28.4.16 27.5.16 18.8.16 27.10.16 9.12.16 3.2.17 10.3.17 30.3.17
1 U Zaw Zaw
2 Daw Htay Htay Khine
3 U Khin Maung
4 Managing Director
5 U Than Zaw
6 Daw Khin Ma Ma
7 Prof. Dr Aung Tun Thet
8 U Min Sein
9 Dr. Tin Latt