notes to the consolidated financial statements - Sacombank

ACtIVItIES oF tHE BoARD oF DIRECtoRS
Sacombank’s Board of Directors (BOD), with a term of five years, is responsible for managing the Bank, which comprises four
major tasks: planning, organisation, leadership and monitoring. The BOD comprises a Chairman, two Vice Chairpersons,
and four Members (one regular member, two semi-regular members, and one non-executive independent member).
Meetings are held once every quarter and may be held extraordinarily if required. At the beginning of the term, the
BOD elects a Chairman by secret ballot. The BOD Chairman approves the BOD with members working on a regular basis
(referred to as the Permanent Committee of the BOD) and assigns tasks to each member. Each assigned BOD member
takes charge of specific Councils or Committees/Boards based on their experience and availability, as follows:
n Councils, including: Credit Council, Asset Investment Council, Financial Investment Council, Reward/Disciplinary
Council, Loss Handling Council, and Training Council, among others. These Councils meet and decide all relevant
matters at the proposals of the Board of Management.
n Committees/Boards, including: Risk Management Committee, Development Strategies and Policies Committee,
Human Resources Committee, Remuneration and Incentives Committee, Steering Committee for Prevention and
Handling of Overdue Debts, Banking Technology Modernisation Board, and Restructuring Board, among others. These
Boards and Committees act as consulting bodies for the BOD on relevant matters, ranging from planning, organisation
and leadership to monitoring and assessing implementation.
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ANNUAL REPORT 2011