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AfrAsia Bank Limited and its Group Entities
Annual Report 2015
page 59
Also attending this committee:
James Benoit, Chief Executive Officer
(resigned 23 September 2015)
Joelle Ng Foong Lee, Head of Credit and Risk Management
Jean Paul de Chazal, Advisor*
*
Jean Paul de Chazal sits on the Conduct Review Committee,
as advisor and has signed an oath of confidentiality as per the
Banking Act 2004.
CORPORATE GOVERNANCE COMMITTEE
This committee:
deals with all Corporate Governance issues and makes
recommendation to the Board accordingly;
ensures that the Bank complies with the Code of Corporate
Governance and Corporate Governance Guidelines issued by
the Bank of Mauritius;
ensures that disclosures made in the annual financial statements
are in compliance with the disclosure provisions in accordance
with the best international practice;
ensures effective communication between stakeholders;
reviews the annual Corporate Social Responsibility policies and
related budgets;
acts as the Nomination and Remuneration Committees and
approves the nomination and remuneration of the Directors and
Senior Management of the Bank;
reviews and advises on the general remuneration policy of the
Bank;
oversees Compensation, Human Resources and Corporate
Social Responsibility issues;
approves all Senior Officers contracts when base salary will
exceed MUR 1,2m per annum; and
requests an annual headcount and budget plan but leaves
management to execute and report thereon at regular intervals.
The Corporate Governance Committee met four times during
the year under review. The four members are:
Lim Sit Chen Lam Pak Ng (Chairperson)
Yves Jacquot
Nicolas Weiss
Arnaud Lagesse (resigned 31 December 2014)
Also attending this committee:
James Benoit, Chief Executive Officer
(resigned 23 September 2015)
RISK COMMITTEE
This committee:
reviews and approves the strategy, policies and practices
relating to the management of the Bank’s liquidity;
monitors the implementation thereof by putting in place
appropriate reporting structures;
approves the Credit and Risk Policy manual and updates which
set out the credit granting process and limits for each of the
Bank’s core business lines;
reviews recommendations from the Management Credit and
Risk Committee for credit facilities above its delegated limits;
approves all operational risk issues and policies of the Bank; and
monitors large and impaired credits as well as the overall level of
provisioning, that is overseeing Credit and Risk exposures and
approving amounts in excess of the Bank’s management team
delegated limits.
The Risk Committee met four times during the year under review.
The members of the committee comprise of James Benoit, Chief
Executive Officer who resigned on 23 September 2015 and the
five Independent Directors:
Henri Calvet (Chairperson)
Lim Sit Chen Lam Pak Ng
Catherine McIlraith
Yves Jacquot
Michael John Pike (resigned 28 February 2015)
Also attending this committee:
Kamben Padayachy, Deputy CEO, Head of Global Banking,
Treasury and Markets (resigned 23 September 2015)
Joelle Ng Foong Lee, Head of Credit and Risk Management