Annual Report 2012 - National Savings Bank

56ROOTED IN OUR HERITAGEGOVERNANCE REPORT• Having an active role in discussingwith relevant regulatory bodies onthe implementation and complyingwith governance regulations.• Overseeing of internal controlsystems including internal audit,compliance and risk managementfunctions independent of thebusiness lines.• Adhering of all requirements of theNSB ACT, laws and directions ofRegulators.• Keeping social responsibility inmind when carrying out its coreactivities.The Board has also delegated some ofits functions to Board Subcommitteeskeeping in line with the Directionson Corporate Governance. TheseSub-Committees are given theauthority to make decisions and/orrecommendations to the Board onmatters under their purview. The BoardAudit Committee (BAC) and IntegratedRisk Management Committee (IRMC)assist the Board to review and makedecisions on the adequacy and integrityof internal controls, review of nancialinformation and their integrity,principal risk elements of the industryand precise risk factors and CorporateGovernance of the Bank. The Boardhas also retained the critical areas ofoperations under its purview withoutdelegating it to operational levels as perCorporate Governance practices.The Corporate GovernanceOrganisational ChartThe Board of Directors at NSBwho oversees and assumes overallresponsibility and accountabilityof the Bank by setting high levelstrategic directions, overseeing the riskmanagement function etc has delegatedthe implementation of strategies to theCEO who exercises executive authoritythrough the corporate managementteam which he heads and to which heprovides leadership and direction.The BoardBoard Sub - CommitteesCEOBACIRMC NC HRRCCorporateManagementBM Div.HR Div.Crd Div.F&P. Div.AM Div.Admin Div.IT Div.IB DivMkt. DivLegal Div.AuditInvestigationsComplianceRiskNATIONAL SAVINGS BANK . ANNUAL REPORT 2012