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Philip Sigwart (Final Section)

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Philip Sigwart (Final Section)
AUDIT & COMPLIANCE COMMITTEE SELF-ASSESSMENT


Please read each statement and rank your response based on a 5-point scale. A rating of “5” indicates that you strongly agree with the statement and “I” indicates that you strongly disagree with the statement.

 

Rating

Description

5

Strongly Agree

4

Agree

3

Somewhat Agree

2

Disagree

1

Strongly Disagree

 

 

A Remarks column is also provided for further comments, if applicable.

1 out of 7
III. Performance of Individual Members of the Committee (20%)

1.) I understand the vision, mission of Baobab MFB and I am aware of my duties and responsibilities as member of the Audit and Compliance Committee.

2.) I am fully aware of the Baobab MFB Revised Charter, By-Laws and governing principles and policies and I keep myself updated on the latest best practices in corporate governance.

3.) I faithfully attend Audit and Compliance Committee meetings.

4.) I come to meeting on time and prepared about the issues to be discussed based on the agenda.

5.) I actively participate in the discussion during the Audit and Compliance Committee meeting with independence, open mind and objectivity.

2 out of 7
STRATEGY & FINTECH COMMITTEE SELF-ASSESSMENT


Please read each statement and rank your response based on a 5-point scale. A rating of “5” indicates that you strongly agree with the statement and “I” indicates that you strongly disagree with the statement.

 

Rating

Description

5

Strongly Agree

4

Agree

3

Somewhat Agree

2

Disagree

1

Strongly Disagree

 

A REMARKS column is also provided for further comments, if applicable.

3 out of 7
I. Committee structure and composition (20%)

1.) The Strategy & Fintech Committee has at least five (5) regular members.

2.) The Strategy & Fintech Committee is chaired by a non-executive director with requisite broad experience, competence, skills and qualifications.

3.) The frequency, duration and scheduling of Strategy & Fintech Committee meetings are adequate to discuss matters related to the performance of its duties and responsibilities.

4.) Membership in the Strategy & Fintech Committee is being rotated for purposes of enrichment and best practices.

4 out of 7
II. Committee Duties and Responsibilities (60%)

1.) The Strategy & Fintech Committee reviews Baobab MFB’s strategic plans and overall strategy and makes recommendations periodically to the Board in relation to market share enhancement, profitability growth, performance improvement, branch expansion, mergers, acquisitions, investments, divestments and business combinations.

2.) The Strategy & Fintech Committee ensures development of the institutions strategy and discusses with management in order to determine the strategic direction and ascertain risks and mitigants associated with such strategic choice.

3.) The Strategy & Fintech Committee reviews the process for development, approval and modification of the institution’s strategy before submitting for board approval.

4.) The Strategy & Fintech Committee assists the management of Baobab MFB with identification of key issues, options and external developments impacting the institution’s strategy and they meet with management periodically to monitor progress of strategic goals.

5.) The Strategy & Fintech Committee regularly acquaints and seeks the approval of the Board of Baobab MFB on status and/or progress with respect to implementation of any strategy.

6.) The Strategy & Fintech Committee reviews and assesses annually the adequacy of the Committee’s Charter and recommends any proposed changes to the Board for approval.

5 out of 7
7.) The Strategy & Fintech Committee exercises general oversight with respect to evaluation and development of technology-driven products and services of Baobab MFB. This includes providing a strategic vision for the institution in relation to technology-driven solutions and infrastructure.

8.) The Strategy & Fintech Committee evaluates business plans developed by management for underlying marketing analysis supporting the business plan, level of profitability, safety and soundness, capital and liquidity needed to execute such strategies, contingency plans to remain viable under significant financial stress in relation to financial technology and associated businesses.

9.) The Strategy & Fintech Committee assesses potential partnerships with outside Fintech firms. The committee also evaluates and understands the technologies that are proposed to be used to offer such digital products and services.

10.) The Strategy and Fintech Committee oversees/ensures that the Baobab MFB’s IT processes, procedures, systems, practices and programmes are continuously and properly evaluated in conjunction with the Bank’s thrust on digital, internet banking facilities and technology infrastructure.

11.) The Strategy and Fintech Committee also ensures that other IT-related developments are observed/evaluated accordingly.

12.) The Strategy & Fintech Committee focuses in unifying and spearheading the bank’s drive towards accomplishing its developmental mandate and technological innovations that will ensure Baobab MFB is in tune with the dynamic local and global socio-economic environment.

13.) The Strategy & Fintech Committee takes the lead in generating ideas and promoting awareness of development issues.

14.) The Strategy & Fintech Committee ensures that the bank is advocating appropriate strategy, technology, development programmes and projects.

15.) The Strategy & Fintech Committee ensures the expansion and strengthening of linkages within and outside the Baobab MFB towards a unified and distinct approach to accomplishing its growth and development mandate in line with the bank’s vision, mission, corporate goals and strategic objectives.

16.) Overall, Baobab MFB has effective Strategy & Fintech Committee.

6 out of 7
III. Performance of Individual Members of the Committee (20%)

1.) I understand the vision, mission of Baobab MFB and I am aware of my duties and responsibilities as member of the Strategy & Fintech Committee.

2.) I am fully aware of the Baobab MFB Revised Charter, By-Laws and governing principles and policies and I keep myself updated on the latest best practices in corporate governance.

3.) I faithfully attend Strategy & Fintech Committee meetings

4.) I come to meeting on time and prepared about the issues to be discussed based on the agenda.

5.) I actively participate in the discussion during the Strategy & Fintech Committee meeting with independence, open mind and objectivity.

7 out of 7
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Time's up

Ronalds Esealuka2021-07-06T10:19:48+01:00

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