Senior Management Committees
The Board has appointed a number of committees consisting of CEO & senior management:
Audit & Compliance Committee
The Audit Committee of the Board is an important element in the overall Corporate Governance framework and has appointed The Audit and Compliance Committee (ACC - which consists of Executive Management) to assist in carrying out its responsibilities. The ACC has full working knowledge of the Bank's goals and strategies as well as the issues faced in achieving its objectives. The ACC considers issues such as:
- Internal controls and bank growth
- Risk identification and response
- Pressure to manage earnings
The Bank's Audit and Compliance Committee is represented by the following permanent members:
- Abdul Aziz Al Ghurair
- Ali Raza Khan
- Kantic DasGupta
- Nigel Morgan
- Somnath Menon
In March 2008 the ACC approved the Audit Review & Compliance Group (ARCG) Charter. The purpose of this charter is to define the role and responsibilities of ARCG within the organization, authorize their unrestricted access to all the entity's records, information, personnel, and locations needed in the performance of audits, reviews, compliance and fraud investigations.
Click here to view the ARCG Charter.
Asset-Liability Committee (ALCO)
ALCO is responsible for monitoring and managing the Bank's assets and liabilities with the primary objective of managing liquidity to ensure obligations and applicable regulatory requirements are met on an ongoing basis while also mitigating interest rate risks.
The strategy of ALCO is to structure assets and liabilities in line with the Bank's Strategic Goals and to guide/direct the efforts of business groups in the overall interest of the Bank.
ALCO controls the deployment of assets across the Bank, monitors the liability mix and associated costs, acts as the focal point for continuous adjustment of pricing and maturity profiles of the Bank's deposits, advances and investments, while also reviewing the Bank's foreign currency exposure and setting dealing/exposure limits for Treasury.
The Bank's ALCO is represented by the following:
- Abdul Aziz Al Ghurair
- Ali Raza Khan
- Farhad Irani
- Kantic DasGupta
- John Iossifidis
- Nabeel Waheed
Information Security Committee
The Bank's Information Security Committee is represented by the following:
- Ali Raza Khan
- Nigel Morgan
- Somnath Menon
Risk Committee
The Bank's Risk Committee is represented by the following:
Voting Members:
- Abdul Aziz Al Ghurair (Chairman)
- Kantic DasGupta (Co-Chairman)
- John Iossifidis
- Ali Raza Khan
- Farhad Irani
- Nabeel Waheed
- Nigel Morgan
Non-Voting Members:
- Head of Wholesale Credit
- Head of Retail Credit