The Case Study - Seylan Bank

102Seylan Bank PLC Annual Report 2009Board Integrated Risk Management Committee ReportComposition of the CommitteeThe Board Integrated Risk Management Committeewas set up in 2007. During the year 2009, thecomposition was changed and new board memberswere appointed to the Committee. The Committeecomprised of the following during the year 2009:• Mr. Ajith Devasurendra - Non-ExecutiveDirector, Chairman of the Committee(appointed w.e.f. 3.12.2009• Mr. Naomal Goonawardena - IndependentNon-Executive Director(resigned on 03.12.2009) - Chairman of theCommittee, till 03.12.2009)• Mr. Lalith Withana - Independent Non-ExecutiveDirector• Mr. Pradeep Kariyawasam - Non-ExecutiveDirectorCommittee MeetingsThe Committee met thrice during the year 2009.Process of Functioning of theIntegrated Risk ManagementCommitteeThe Committee works closely with the board ofdirectors as well as the senior management infulfilment of the Bank’s regulatory and statutoryresponsibilities in Risk Management.Ajith DevasurendraChairman - Integrated Risk Management Committee16th February 2010The Executive Director, Mr. Nadarajah,the CEO, CFO and Key Management Personnelsupervising broad risk categories, i.e., credit,market, liquidity, operational and strategic risksattend the Committee meetings by invitation.Functions and Terms of Referenceof the CommitteeThe Committee was assigned revised Termsof Reference (TOR) during the year 2009. TheCommittee’s responsibilities broadly includeassessment of all risks, i.e., credit, market, liquidity,operational and strategic risks to the Bank throughappropriate risk indicators and managementinformation and reviewing the adequacy andeffectiveness of management level committees setup to address specific risks and the Asset-LiabilityCommittee to address and manage such risks.The responsibilities and the key functions ofthe Committee as detailed in the terms of referenceare given under the Risk Management Report ofthis Annual Report.