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Corporate Governance

Finance Bank Zambia Limited is committed to ensuring good corporate governance. The bank believes that good corporate governance enhances shareholder value. Finance Bank aims at complying with best international practices on corporate governance. Adherence to corporate governance principles is articulated in a number of corporate documents. The Articles of Association of the bank define the respective roles of management, the board of directors and shareholders in the administration of the bank. The bank has standard written rules for the internal operation of the boards of directors, a corporate governance charter, and a code of conduct for directors and rules on business ethics for staff, all of which aim at ensuring transparency and accountability. The board of directors has adopted Bank of Zambia Corporate Governance guidelines to guide its corporate governance framework. The bank's governance practices are also guided by the Basel Committee standards on corporate governance. The composition of the board includes executive, non-executive and independent directors. Non-executive directors always constitute a majority of the board.


BOARD COMMITTEES


1. Risk & Audit Committee

Composition

The Committee is composed of three non-executive directors and the Chief Executive Officer. Members have good knowledge of business, finance, banking, general management and credit. The Senior Manager Audit, Risk & Compliance serves as Secretary to the Committee.

Responsibilities



2. Loans Review Committee

Composition

The committee is composed of three non-executive directors, the Chief Executive Officer, and Director Credit. Members have business knowledge and skills in accounting and credit management. Senior Manager Credit serves as Secretary to the Committee.

Responsibilities



3. Human Resource Committee

Composition

The committee is composed of three non-executive directors, the Chief Executive Officer, and Director Human Resource serves as Secretary.

Responsibilities



MANAGEMENT COMMITTEES


Executive Committee (EXCO)

EXCO acts as the operational management forum responsible for delivering Finance Banks operating plan and results.

Responsibilities

The duties and responsibilities of the Committee are to ensure:



Assets and Liabilities Committee (ALCO)

The responsibilities of the ALCO are to manage:

Responsibilities



Country Credit Committee (CCC)

Responsibilities



Risk and Control Committee (RCC)

Responsibilities



Remunerations and Promotions Committee (RPC)

Responsibilities



Operations Committee (OPSCO)

Responsibilities



Brand and Reputation Committee (Marketing)

Responsibilities