Corporate Governance

 

Corporate Governance is the cornerstone of dunia's business and operations framework. Compliance with the principles of good governance starts with the Board of Directors. The Board is a balanced and diverse group of leaders and is independent and well equipped to carry out its functions as a governance body on behalf of the shareholders.

The governance framework for risk is at an Executive and Board Level. At dunia, we have chosen a framework that incorporates guidelines recommended by leading international and regional regulators as well as the prudent practices adopted by leading financial institutions. This comprises of a two tier system of Governance Committees comprising of members drawn from the Management Committee for the first tier and the Board of Directors as the second tier.

This framework ensures that while accountability for decision-making at an operational level remains with functional specialists, executive management engages in cross-functional sharing of knowledge and expertise via these committees in a structured manner. This helps ensure that synergies are identified and efficiencies are optimized when decisions impacting the organization are taken.The executive management committees are:

  • Asset and Liability Committee
  • Product Approval Committee
  • Business Risk and Compliance Committee
  • Credit Risk Committee
  • Executive Operating Committee
  • IT Steering Committee
  • Human Resources Committee
  • Vendor Management Committee

Board Committees provide strategic oversight and guiding principles for the Company with respect to key business matters. The deliberations and recommendations by the management team are carefully considered as the Directors draw on their collective experience and expertise to discuss and opine on key policies and critical corporate decisions.

Apart from the Board of Directors who meet regularly, the board committees are:

  • Audit Committee
  • Risk Management Committee
  • Employee Remuneration and Nomination Committee