Annual Report 2012 - National Savings Bank

145BRANCHING OUT INTO NEW VENTURESSUSTAINABILITY REVIEWstrictly adheres to all relevant rules andregulation issued by the Government,Treasury and CBSL.Governance StructureThe Board of Directors is the highestgoverning body of the Bank. Otherthan two ex ofcio members allBoard members are appointed by theMinister of Finance and Planning.Responsibility for achieving the Bank’smandate through policy, strategy, actionand review, is vested in the Boardof Directors. Directors are chosenfor their probity, varied but relevantdisciplinary backgrounds and broadComposition of Main Boardexperience. The Board comprises anumber of professionals with differentcompetencies.For the most part, the Board exercisesoversight through a number ofcommittees. There are four BoardSub Committees. They are theBoard Audit Committee (BAC), theHuman Resources and RemunerationCommittee (HRRC), the NominationCommittee (NC) and the IntegratedRisk Management Committee (IRMC).They are constituted and mandated inaccordance with guidelines issued bythe CBSL and members are appointedby the Board of Directors. Eachcommittee is governed by a foundingcharter. Board Committees meetquarterly, or at intervals specied bytheir specic charters.The CEO/GM is the highest executiveofcer and he reports directly tothe Chairman and the Board. Thenext level of authority is the Bank’sCorporate Management and ExecutiveManagement.Please refer the Corporate Governanceand Risk Management sections in pages54 to 135 of this Annual Report formore information on NSB’s governancestructure.Non-ExecutiveMembersWorkingDirectorIndependentDirectorsNonIndependentDirectorsGenderAgeMale Female Below 60 Above 60 yrsyrsMain Board1 Mr Sunil S Sirisena M 2 Mr S T Abeygunawardana M 3 Mr P A Abeysekera (Upto 28.02.2013) M 4 Mr R M P Ratnayaka M 5 Mr D L P R Abeyaratne M 6 Mr Lionel P Fernando M 7 Mr Priyantha Jayawardena M 8 Mr Sumith Wijesinghe M NATIONAL SAVINGS BANK . ANNUAL REPORT 2012