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Committees of the Board of Directors
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The Board of Directors has established the following specialised committees to oversee specific issues:

Audit Committee:

The Audit Committee comprises four non-executive members, of whom three are independent. The Committee is chaired by the Senior independent member of the Board of Directors:

George Kourris Chairman - Independent
George Liakopoulos Member – Non-Executive
Socrates Solomides Member - Independent
Maria Dionyssiades Member - Independent

The main responsibilities of the Audit Committee are:
• To monitor and assess the adequacy and effectiveness of the Internal Control System
• To submit proposals for the resolution of any weaknesses in the Internal Control System
• To monitor the implementation of measures that have been decided by the Board of Directors
• To evaluate the work of the Internal Audit unit
• To submit proposals to the Board of Directors for the selection or replacement  of the external auditors

Risk Management Committee

The Risk Management Committee consists of three members with sufficient knowledge and expertise in risk management. Two of the members are non-executive and independent and the chairman is a non-executive member:

Shadi A. Karam Chairman - Independent
Constantinos St. Loizides Member – Non-Executive
Andreas Vassiliou Member - Independent

The main responsibilities of the Risk Management Committee are:
• To develop the Bank’s strategy with regard to risk taking and capital management
• To assess the adequacy of the Bank’s risk management policy
• To evaluate the effectiveness of the Bank’s Risk Management unit
• To submit proposals to the Board of Directors on relevant matters

Nomination and Remuneration Committee

The Nomination and Remuneration Committee consists of four non-executive members three of which are independent. The chairman is a non-executive independent member of the Board of Directors:

Maurice Sehnaoui Chairman – Non-Executive
Socrates Solomides Member - Independent
Andreas Vassiliou Member - Independent

The main responsibilities of the Nomination and Remuneration Committee are:
• To develop, periodically review and monitor the implementation of the Bank’s remuneration policy
• To assess the composition and performance of the Board of Directors
• To submit proposals to the Board of Directors for the selection, renewal or replacement of members of the Board of Directors