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RISK COMMITTEE

PURPOSE OF THE COMMITTEE
The purpose of the Risk Committee is to oversee on behalf of the board, the integration of risk management in the Company and the Bank through the Enterprise Risk Management process. The committee shall monitor the risk framework of the Company, and the Bank including the review and approval of major products, services and strategic initiatives.

COMPOSITION OF THE COMMITTEE
The Risk Committee is composed of a minimum of five (5) independent directors.

MEETINGS
The Risk Committee will meet at least four (4) times a year.

RESPONSIBILITIES
The committee will assist the Board of Directors in fulfilling its oversight responsibilities with respect to the risk appetite of the Company and the Bank, ensuring that the strategy embeds risk management in its key business initiatives. The committee will provide a forum for the analysis of future risks in existing as well as proposed operations. The committee will be entitled to rely on the integrity and expertise of those persons providing information to the committee, absent actual knowledge of inaccuracy.

The committee will ensure that the company and the Bank is taking appropriate measures to identify, assess, monitor and mitigate key systemic risks, including market risk, interest rate risk, liquidity risk, operational risk, regulatory risk and reputational risk, throughout the organization.
 


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