Meet our Board of Directors
Purpose of the board
The Board’s role is to provide strategic guidance to the Company within a framework of prudent and effective controls which enables risk to be assessed and managed.
The Board should set the Company’s strategic aims, ensure that the necessary financial and human resources are in place for the Company to meet its objectives and review management performance. The Board should set the Company’s values and standards and ensure that its obligations to its shareholders and others are understood and met.
Structure of the board
The Board should include a balance of executive and non-executive directors (and in particular independent non-executive directors) such that the balance of skills and experience is appropriate for the requirements of the Company.
The Board is to comprise a majority of non-executive Directors who are considered by the Board to be independent and will be of such size and competence necessary to understand properly, and deal with, the current and emerging issues of the business SPTC.
Committees
The Board shall from time to time establish standing and ad hoc committees to assist it in carrying out its responsibilities.
The Board will adopt a charter for each Committee established dealing with the scope of its responsibility and relevant administrative and procedural arrangements. The Committee established and subsisting at the date of this document is the Subsidiary Audit Committee.
Roles and Responsibilities
The Board will approve and oversee the implementation of the Company’s strategies and will review and approve the Company’s strategic plan. In its strategy document,the Board will identify the significant risks that the Company faces in achieving its business objectives through its strategies. A high-level overview of the strategies will be communicated throughout the Company and will be disclosed publicly.
The Board of Directors of the Company is expected to fulfill the following responsibilities:
- Review and approve strategies, business plans and significant policies and monitor management’s performance in implementing them;
- Set corporate values and clear lines of responsibility and accountability that are communicated throughout the organization;
- Ensure competent management;
- Ensure that the operations of the company are conducted prudently, and within the framework of relevant laws and policies;
- Ensure that the company establishes comprehensive risk management policies, processes and infrastructure, to manage the various types of risks;
- Institute comprehensive policies, processes and infrastructure to ensure compliance in all aspects of the company’s operations, products and activities;
- Establish procedure to avoid self-serving practices and conflicts of interest including dealings of any form with related entities;
- Ensure protection of the interests of the depositors, particularly investment account holders;
- Establish and ensure the effective functioning of various board Committees;
- Discuss, evaluate and provide input on strategies and policies to suit local environment; and
- Deliberate and approve major issues and decisions Corporate Governance Charter