A closer look at RAKBANK’s Board Committees
Our Board Committees play an integral role in ensuring sound governance and effective risk management. Each committee has a specific responsibility, ranging from financial oversight to nomination and remuneration of Board Members and Senior Management.
By working together, these committees help to establish and manage policies and procedures that enable us to achieve our strategic goals and deliver value to our stakeholders.
Board Audit Committee
The Board has established a Board Audit Committee to assist in the oversight, monitoring, and review of the following areas:
- The quality and integrity of financial statements and financial reporting
- The effectiveness of governance, risk management and internal control systems
- Compliance with laws and regulations
- Compliance with the Group Code of Conduct
- The Group Internal Audit (GIA) function
- The statutory audit process and external auditors
Board Risk Committee
Board Nomination and Remuneration Committee
The Board has established a Board Nomination and Remuneration Committee to assist in the following areas:
- Board composition
- Nomination and remuneration of Board Members and Senior Management
- Establishing and managing the induction and ongoing director development programs
- Assessment of the Board, its committees, and directors
- Succession planning for Board Members and Senior Management, and HR policies.
Board Strategy Committee
The Board Strategy Committee has been established to assist the Board in providing guidance to the CEO and Senior Management in managing the affairs of the Bank, particularly in areas of the Bank's overall strategy, operational and financial performance monitoring, and budgeting.
Board Credit Committee
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