The committee focuses on the talent development of the bank. The committee ensures that there are policies whereby only the best of the candidates from the competitive market are chosen and those candidates stay with the bank, through such initiatives as talent engagement, development and retention. Due to the recent changes of economy landscape in the country, financial institutions in Myanmar has faced significant shortage of skilled & qualified staffs to fill the gap. In order to acquire suitable candidates with right skills sets, we have begun to look for candidates not only domestically but also internationally.
Remuneration Committee reviews and decides the compensation packages for directors and key executives and also assesses the remuneration strategies for the bank.
The Members are:
| 1. | U Kyaw Lynn | Leader |
| 2. | Daw Khin Hla Hla | Member |
| 3. | Daw May Moe Myint | Member |
| 4. | Daw Thawdar Zin | Member |
| 5. | Daw San San Myint | Member |
| 6. | U Thein Zaw Tun | Member |
| 7. | Daw Myint Myint Yi | Member |
| 8. | U Zayar Kyaw | Member |
| 9. | U Ye Htun Oo | Member |
| 10. | U Zaw Min Thant | Member |
The success and growth of banking business mainly depends on how well the bank can manage its risk portfolio. The committee oversees the risk management strategy, decides the risk appetites and assesses the effectiveness of risk management framework. The committee not only oversees the credit risk but also market risk, operation risk, as well as strategy risk. The committee regularly schedules board meetings to discuss sizable credit applications and set out guidelines to mitigate potential risks. Additionally, the committee closely monitors market developments, such as macro-economic, credit and industry risk factors in order to position the bank against any adverse circumstances and effectiveness of operation risk management.
The Members are:
| 1. | Daw Khin Hla Hla | Leader |
| 2. | Daw Thawdar Zin | Member |
| 3. | U Tin Maung Htwe | Member |
| 4. | U Kyaw Mya Khaing | Member |
| 5. | U Zayar Kyaw | Member |
| 6. | Daw Soe Soe Thin | Member |
| 7. | Daw Khin Nilar Aung | Member |
| 8. | Daw Theint Theint | Member |
| 9. | Daw San Yin Aung | Member |
| 10. | Daw Phyu Phyu Aung | Member |
This committee is another important supervisory group for Liquidity Risk Management. The committee oversees the policies to manage the bank’s balance sheet structure so that the bank earns sustainable and adequate returns at the reasonable risks.
The Members are:
| 1. | U Thein Zaw Tun |
| 2. | U Zayar Kyaw |
| 3. | U Kyaw Thu Ko |
| 4. | Daw Myint Myint Yi |
| 5. | Daw Soe Soe Thinn |
| 6. | Daw Khin Nilar Aung |
| 7. | U Ye Tun Oo |
| 8. | Daw Wai Hnin Moe |
Banking and Technology Development Committee guides the development of digital trends and consumer habits. As we consider the future of banking lies in technology, this committee plays an important role in crafting our strategies around digital financial services to keep the bank relevant in the age of technology.
The Members are:
| 1. | U Kyaw Lynn | Leader |
| 2. | U Yan Aung | Member |
| 3. | Daw May Moe Myint | Member |
| 4. | Daw San San Myint | Member |
| 5. | U Thein Zaw Tun | Member |
| 6. | U Zayar Kyaw | Member |
| 7. | U Kyaw Aung Soe | Member |
| 8. | U Wai Phyo Aung | Member |
| 9. | U Zaw Min Thant | Member |
| 10. | U Tin Maung Tun | Member |
The main responsibilities of this committee include; studying, reviewing and selecting the strategic locations and profitability for the establishment of new branches.
The Members are:
| 1. | Daw Khin Hla Hla | Leader | 10. | U Thein Zaw Tun | Member |
| 2. | U Yan Aung | Member | 11. | U Zayar Kyaw | Member |
| 3. | U Kyin Min | Member | 12. | U Wai Phyo Aung | Member |
| 4. | U Kyaw Thuya | Member | 13. | Daw Myint Myint Yi | Member |
| 5. | U Soe Lwin | Member | 14. | Daw Thidar Tun | Member |
| 6. | U Tin Maung Htwe | Member | 15. | U Tin Zaw Oo | Member |
| 7. | Daw May Moe Myint | Member | 16. | U Thein Aung | Member |
| 8. | Daw Thawdar Zin | Member | 17. | U Pyae Phyo Aung | Member |
| 9. | Daw San San Myint | Member |
The Audit Committee is established according to Section 85 of the Financial Institutions Law. The responsibilities of the committee include:
- ensure the quality of financial statements and review any significant change in, accounting policies and practices, as laid by the Central Bank of Myanmar and Myanmar Auditor General Office
- ensure integrity and accuracy of all financial reports before being submitted to the Board of Director and the shareholders
- ensure adequacy and effectiveness of internal accounting control systems and material internal controls
- review external and internal audit plans and reports
- assess adequacy, effectiveness and efficiency of the internal audit function
The committee convenes regular meetings, at least once every three months.
The Members are:
| 1. | U Kyaw Mya Khaing | Leader |
| 2. | Daw Khin Khin Win | Member |
| 3. | Daw Hla Hla Win | Member |
Mandatory Inspections and appointment of External Auditor
1. Audit Department
The Audit Department is formed by the Audit Committee according to Section 85 of the Financial Institutions Law. This function inspects and audits the matters related to pecuniary use of all departments at the bank head office and the bank branches to ensure compliance with all the rules and regulations issued by the Central Bank of Myanmar and other regulatory bodies. The Audit Department assists the external auditors and reports to the Audit Committee.
2. External Audit
According to Section 88 and 89 of the Financial Institutions Law, the external auditor conducts audit annually on the business operations and financial reports of the bank. The findings and audit reports are submitted to the Board of Directors and the Central Bank of Myanmar. U Hla Tun & Associates has been nominated and selected by the Audit Committee as the bank’s external auditors.
3. Audit Party of the Central Bank of Myanmar
Under the Section 90 and 91 of the Financial Institutions Law, the bank is subjected to the annual audit and inspection by the Central Bank of Myanmar. During 2016-2017, the activities pertaining to the financial matters at the head office of the bank and the branches were inspected and audited.
This committee establishes and implements strategic objectives of the bank. The primary purpose of Executive Management Committee is to set the strategies, oversee and guide the bank to accomplish the targets and objectives laid by Board of Directors. The committee monitors the functioning of the organization to ensure planned objectives are achieved within set budget and timeframe.
Members are:
| 1. | U Kyaw Lynn | Leader |
| 2. | U Thein Zaw Tun | Member |
| 3. | U Zayar Kyaw | Member |
| 4. | U Kyaw Thu Ko | Member |