IT Oversight Committee (ITOC) The primary responsibilities of ITOC are oversight IT Strategy, IT Management and IT Operations, IT Investment and expenditures budget to ensure the alignment with Bank’s strategy, and oversight IT Risk Management of both normal and crisis situation, as well as oversight development programs for staffs to have sufficient knowledge on information technology and IT risk awareness. For an appointment of the board committees, the NRCC shall consider, give endorsement and then submit to The board for consideration and appointment thereof. To appoint the board committees, the board shall consider the requirements of profound expertise in respect of roles and responsibilities of each board committee. Qualified persons shall have competence, professional experience and specialized qualifications without conflict of interest to hold the position. Each board committee shall also have all compositions and qualifications in accordance with the regulatory requirements. 7.3 Sub-Committee Structure Board Committees To achieve effective and efficient performance, the Board has appointed board committees to relieve its burden in monitoring or consideration of important businesses of the Bank. The board committees have the authority to make decision on behalf of the Board subject to the Board’s delegation of authority. The Board has determined the scope of duties and responsibilities of the board committees in accordance with their missions. The segregation of duty is clearly defined without duplication of work, as well as in compliance with the regulatory requirements. In addition, the board committees’ meetings must be held on a regular basis to report their performance for the Board’ acknowledgement. The board committees comprise of: 1. Board of Executive Directors 2. Audit Committee 3. Nomination, Remuneration and Corporate Governance Committee 4. Risk Oversight Committee 5. Credit Committee 6. IT Oversight Committee 187 Form 56-1 One Report 2021
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