Allied Bank

Audit Committee of Board

Terms of Reference:
Primary responsibilities of the Audit Committee of Board (ACOB) are to determine appropriateness of measures taken by the Management to safeguard Bank’s assets, ensure consistency of accounting policies, review financial statements and recommend appointment of the external auditors and close coordination with them to fulfill statutory and Code of Corporate Governance requirements. ACOB is inter-alia responsible to ascertain the effectiveness of the Internal Control System including financial and operational controls, ensuring adequate and effective accounting and reporting structure and monitoring compliance with the best practices of the corporate governance. The other function of ACOB includes assurance that an independent and effective internal audit function is in place.

Board Risk Management Committee

Terms of Reference:
The primary functions of Board Risk Management Committee (BRMC) are the monitoring of Management’s adherence to prudent and sound risk policies, assessing the ever changing risk profile and providing risk appetite to the business units. It also ensures development of risk management principles to build stakeholders confidence, safeguard and enhance reputation. BRMC also monitors quality of asset portfolio and suggest measures to keep the infected portfolio at the minimum level. BRMC approves risk limits for credit, market and operational risks, credit approval grid and proposals regarding write-offs above certain limits. Overseeing of certain management committees and groups is also undertaken by the BRMC. It also monitors the initiatives pertaining to Basel requirements and up gradation of Risk Management Systems.

e-Vision Committee

Terms of Reference:
One of the key missions of the e-Vision Committee is to provide strategic direction for e-banking and adoption of evolving technologies. Review of strategic plans to improve IT infrastructure and automation of processes and systems including alternate delivery channels are also with in the scope of the responsibilities of the e-Vision Committee. The Committee provides assistance to the Board with insights regarding adoption of international developments in the field of e-banking keeping in view of the domestic requirements. It also oversees performance of Information Technology Group and Business Systems & Implementation Group.

Strategic Planning & Monitoring Committee

Terms of Reference:
The Strategic Planning and Monitoring Committee is responsible to review long term strategic plan, operational plan and budget of the Bank before their consideration by the Board. The Committee also monitors progress against above referred plans and budget and is also responsible to approve capital expenditure over Rs. 10 Million and donations of over Rs. 1 Million to Rs. 10 Million. The Committee also assists the Board on corporate development activities and new initiatives including acquisitions, mergers, alliances, joint ventures and divestitures etc.

Besides overseeing certain management committees and groups, the Committee also approves filing of legal suits and criminal complaints involving significant amounts.

Human Capital Committee

Terms of Reference:
The Committee defines the organizational structure and functional responsibilities of each group. It approves staff strength, special allowances / facilities not admissible under normal rules. It recommends to the Board, the selection, evaluation, compensation of the key management positions. It nominates the management personnel on the boards of other companies / subsidiaries. It also recommend amendments in Human Resource Management Policies to the Board, besides monitoring performance of Human Resources Group.