Corporate Governance Committee

• Duties and Functions 

 
The Corporate Governance Committee (CG Com) shall have the following duties and functions: 

1. To review and recommend the organizational structure of the Bank and its units; 
2. To review and evaluate the qualification standards for all positions in the Bank; 
3. To review and recommend the selection/promotion of the officers as endorsed by the Selection Board II; 
4. To ensure the Board’s effectiveness and due observance of corporate governance principles and guidelines; 
5. To oversee the periodic performance evaluation of the Board and its committees and executive management; 
6. To conduct an annual self-evaluation of its performance; 
7. To decide whether or not a director is able to and has been adequately carrying out his/her duties as director bearing in mind the director’s contribution and performance (e.g. competence, candor, attendance, preparedness and participation); 
8. To adopt, propose and recommend to the Board such internal guidelines to address the competing time commitments that are faced when directors and other Bank officers serve on multiple boards; 
9. To study and recommend to the Board such policies regarding the continuing education of the Directors, assignment to Board Committees, succession plan for the senior officers and their remuneration commensurate with corporate and individual performance; 
10. To decide the manner by which the Board’s performance may be evaluated and propose an objective performance criteria to be approved by the Board; 
11. To study and recommend policies to ensure appropriate and effective management through organizational and procedural controls and independent audit mechanisms; 
12. To promote transparency and operational responsibility and accountability in a manner consistent with the Bank’s vision, mission, strategic intent and operating values.

The Committee is composed of:

The Committee meets at least quarterly or as often as it is considered necessary and appropriate. In 2021, it held a total of nine (9) meetings and adopted sixty eight (68) resolutions.