An Independent Director serves as the Chairman of the Board Audit Committee (BAC), which also comprises two Non-Executive Directors. The Head of Internal Audit serves as the Secretary of the Committee. The Chairman holds a B.Econ (Statistics) and a Diploma in Economic Planning (D.E.P), and has extensive experience in auditing. The BAC provides a structured, systematic oversight of the organization’s governance, risk management, and internal control practices. The Committee assists the Board and Management by providing findings, observation reports, advice, and guidance on the adequacy and effectiveness of control measures within the organization. BAC also oversees financial reporting and external audit matters, supporting the maintenance of the highest standards of integrity in the financial reports.
The Board Integrated Risk and Compliance Committee (BIRCC) is chaired by an Independent Director and is composed of two Non-Executive Directors. The Chief Risk and Compliance Officer (CRCO) serves as the Secretary. BIRCC oversees and reviews the establishment, effectiveness, and implementation of the risk management framework. It ensures that transactions are undertaken with due consideration of associated risks and appropriate risk mitigation tools. BIRCC also reviews the outcomes of business operations from a risk perspective and takes corrective actions when necessary. In addition, it is responsible for supervising the Bank’s compliance with the policies and regulations issued by the Central Bank of Myanmar (CBM).
The Board Credit Committee (BCC) is established with three Non-Executive Directors, and the Chief Credit Officer (CCO) serves as the Secretary. BCC oversees the credit and lending policies, strategies, and objectives of the Bank, including: (i) overseeing credit risk management, (ii) reviewing and approving credit-related products, (iii) reviewing the quality and performance of the Bank’s credit portfolio, and (iv) making decisions on credit proposals.
The Information Technology Steering Committee (ITSC) comprises three Non-Executive Directors, and the Head of IT serves as the Secretary. The Committee is responsible for formulating strategies and policies related to technology that are critical for the long-term development of the Bank’s services. ITSC’s key duties include assessing the Bank’s technical capabilities, setting technology and information priorities, and overseeing its Core Banking System. The ITSC also monitors and receives updates on major IT performance indicators, IT priorities, IT budgets, and the performance of the Core Banking System.
The Remuneration and Nomination Committee (RNC) is established with three Non-Executive Directors, and the Head of HR serves as the Secretary. The RNC is responsible for reviewing and approving employee-related policies, remuneration packages, and employee benefits, and also oversees the workforce structure, including the number of employees at various levels, expatriates, and senior management personnel. The Committee deliberates, reviews, and makes prudent decisions on human resource matters in alignment with market standards and practices. It also supports the Bank’s long-term strategy and vision by encouraging employees to embrace a professional culture.
