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Corporate Governance

Board of Directors Charter

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Details on Board Composition

Board of Directors

Board Committees Composition (as at 30 December 2016)

Board Committee Composition
Board Audit Committee

Lee Kong Yip (Chairman)
YBhg. Datuk Kamaruddin Taib
Norman Ip
YBhg. Major General Dato’ Zulkiflee Mazlan (R)

Board Nominations and Remuneration Committee Norman Ip (Chairman)
YBhg. Datuk Kamaruddin Taib
YBhg. Major General Dato’ Zulkiflee Mazlan (R)
Board Risk Management Committee

Mr Norman Ip (Chairman)
YBhg. Datuk Kamaruddin Taib
YBhg. Datin Zaharah Ali
Lee Kong Yip

Governance Committee YBhg. Datuk Kamaruddin Taib (Chairman)
YBhg. Datin Zaharah Ali
YBhg. Professor Dato’ Dr. Wan Sabri WanYusof
Jasveen Kaur Marne
 
 
Appointments, Resignations and Removals of Directors during the Financial Year (as at 30 December 2016)
 
Khor Hock Seng (appointed on 1 March 2016)
Major General Dato’ Zulkiflee Mazlan (R) (appointed on 29 April 2016)
YBhg. Datin Zaharah Ali (appointed on 29 April 2016)
Lee Kong Yip (appointed on 1 July 2016)
Major General Dato’ Che Hasni Che Ahmad (R) (resigned on 29 April 2016)
Tuan Haji Jamaluddin Masrin (resigned on 29 April 2016)
YBhg. Dato Koh Yaw Hui (resigned on 4 November 2016)

 
Training and Education Provided to the Board (as at 30 December 2016)
 
The Company has in place an In-House Orientation Programme for newly appointed Directors to familiarize themselves with its operations. The Directors are provided with the opportunity for relevant training programmes on an ongoing basis in areas relating to financial industry for them to keep abreast with the latest developments in the industry including the Financial Institutions Directors’ Education (“FIDE”) Core Programme which promotes high-impact Boards by strengthening Board competencies in dealing with corporate governance, risk management and strategies issued faced by the financial services industry.

During the financial year, the Directors, collectively or on their own, attended seminars, courses and briefing organized by professional bodies and regulatory authorities as well as those conducted in-house, among others as follows:

  • FIDE FORUM Industry Briefing
  • Leaders Room Talk by David Nour
  • Dialogue with SMT of BNM – Focus Group 2 (For Insurance, Takaful, Reinsurance Businesses)
  • Cyber-Risk Oversight by Mr David Leach
  • Briefing Session on BNM Annual Report 2015 / Financial Stability and Payment System Report 2015
  • 3rd BNM – FIDE FORUM Annual Dialogue with the Governer of BNM
  • BNM – FIDE FORUM Dialogue with the Deputy Governer of BNM on the Corporate Governance Paper
  • Responsible Financial Summit 2016
  • Launch of Directors Register
  • Internal Capital Adequacy Assessment Process (ICAAP) Insurance
  • FIDE FORUM: 2nd Distinguished Board Leadership – “Avoiding Financial Myopia”
  • Future Finance Conference at BNM
  • Omniboard Training for Directors
  • Discussion on BNM Concept Paper on Corporate Governance
  • Board Educational Series: An Overview of Reserving
  • Board Educational Series: Project Asset Liability Management / Investment Management / Fund Transfer Pricing & Discussion on 2017 Strategic Asset Allocation
 
Number of Meetings convened by Board and Board Committees in Financial Year 2016 (as at 30 December 2016)
 
Board 9
Board Nominations and Remuneration Committee(1) 12(2)
Board Audit Committee 5(3)
Board Risk Management Committee 5
Governance Committee 4

Notes:

(1) The Board Nominations and Remuneration Committee (“BNRC”) was established on 1 December 2016, it was formerly the Nominating Committee (“NC”) and Remuneration Committee (“RC”).

(2) There were 7 NC Meetings and 5 RC Meetings held in 2016, prior to the establishment of the BNRC.

(3) The Board Audit Committee Meetings included 1 Joint Audit Committee - Board Risk Committee Meeting. 

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