Page 114 - flipbook-ubp-IR

INTRODUCTION ABOUT US MANAGEMENT APPROACH
CORPORATE GOVERNANCE REPORT
3. THE BOARD (CONTINUED)
Board Committees (Continued)
RISK MONITORING COMMITTEE
MANDATE
The Committee assists the Board in the discharge of its duties relating to the setting up and monitoring of the risk governance process, against the risk appetite, as well as monitoring relevant risk portfolios and management’s performance against such risk appetite as well as the approval of risk management policies for recommendation to the Board.
The Committee confirms that it has assumed its responsibilities in accordance with its terms of reference for the year under review.
COMPOSITION
As per its Charter, the Committee shall consist of an equal number of Executive and Non-Executive Directors. The Committee is constituted as follows:
François Boullé Christophe Quevauvilliers Kalindee Ramdhonee Stéphane Ulcoq
Chairman Member Member Member
The Chairman is a Non-Executive Director. Mrs Ramdhonee is an Independent Non-Executive Director while the two Executive Directors are the Group CEO and the Group CFO, the latter also acting as the Chief Risk Officer.
DISCUSSIONS
The Committee met three times during FY2022, mainly to:
• review the Group’s insurance policies to ensure adequate coverage;
• receive and consider the Group’s consolidated risk register and risk status; and
• discuss the risk monitoring exercise within the Group;
112
UBP INTEGRATED REPORT 2022
ATTENDANCE
The attendance record of Committee meetings for the year under review is
as shown on page 113. A quorum of three members is currently required for a Committee meeting.
REMUNERATION
The remuneration of the Chairman and of each member of the Committee for the year ended June 30, 2022 amounted to Rs 90,000 (2021: Rs 90,000) and Rs 60,000 (2021: Rs 60,000) respectively.