SBM Bank (Mauritius) Ltd - Governance framework
The Board
SBM Bank (Mauritius) Ltd (the “Bank”) operates under the aegis of a unitary Board, collectively geared towards the long-term success of the Bank and ultimately responsible for providing effective leadership and for overall conduct and control of the affairs of the Bank.
The Board operates within a governance framework, which enables delegation of authority to the Board's Sub-Committees and Leadership Team. Through this framework, it sets out the strategic direction and has entrusted the day-to-day running of the organisation to the Bank's Chief Executive, and through him to the Executive Management team. The Board oversees the governance environment, including through oversight delegated to its Sub-Committees, to ascertain that the management and control of the Bank's administration and operations are satisfactory.
The role of the Chairperson is distinct and separate from that of the Chief Executive and there is a clear division of responsibilities with the Chairperson leading the Board and the Chief Executive managing the Bank's business on a day-to-day basis.
The Board has put in place a transparent procedure for the appointment and reappointment of directors
The Board of SBM Bank (Mauritius) Ltd is composed of the following Directors:
- Mr SOONDRAM Visvanaden - Chairperson
- Mr AROUFF Jean Paul Emmanuel - Non-Executive Director
- Mr CHENGAN Coomarah - Independent Director
- Mr GUFFLET Raoul - Non-Executive Director
- Mrs KICHENIN Imalambaal - Independent Director
- Mr RAMPERTAB Rajcoomar - Independent Director
- Mr SALEHMOHAMED Muhammad Azeem- Non-Executive Director
- Ms SIBARTIE Oumila - Independent Director
- Mr TACOURI Ranapartab - Independent Director
- Mr RAWOTEEA Sanjaiye - Executive Director
Biographical details of the Directors are available by clicking here
Board Sub-Committees
As part of the process of establishing a governance structure that contributes to the effective oversight of the affairs of the Bank, the Board has established the following committees to assist it in the discharge of its responsibilities. Each Board Sub-committee has its own terms of reference approved by the Board which, along with the Board Charter, are reviewed on a regular basis:
- Audit Committee
- Board Supervisory Committee
- Corporate Governance Committee
- Remuneration & Nomination Committee
- Risk Management Committee
- Strategy Committee
Leadership Team
The Leadership Team ensures that the affairs of the Bank are consistent with the business strategy, risk appetite and policies set by the Board while adhering to regulatory requirements. The operational management and day-to-day running of the Bank are entrusted to the Bank’s Chief Executive and, through him, the Executive Forum. The Executive Forum ensures that all relevant matters under its purview are addressed in a timely manner and in accordance with the Board-approved terms of reference.
Biographical details of the Chief Executive and Members of the Executive Forum are available by clicking here
Company Secretary
The Company Secretary plays an important role in the good governance of the Company by supporting the Chairperson and helping the Board and its Committees to function efficiently. All Directors have access to the services of the Company Secretary. Ms Preshnee Ramchurn has been appointed by the Board as Company Secretary for SBM Bank (Mauritius) Ltd.
Below is the profile of the Company Secretary:
-
Ms Preshnee Ramchurn
Ms Preshnee Ramchurn is the Governance Lead & Company Secretary at SBM Bank (Mauritius) Ltd. She is a Governance Professional with extensive experience in corporate governance matters and company secretarial practice and has prior experience in risk management and compliance from her time in one of the Big 4 accounting firms.
Besides her role as Secretary to the Board, Ms Ramchurn oversees the Corporate Affairs division of the Bank and acts as Secretary to the following Sub-Committees of the Board:- Audit Committee
- Board Supervisory Committee
- Corporate Governance Committee
- Remuneration & Nomination Committee
- Strategy Committee
- Risk Management Committee
Ms Ramchurn is a Senior Officer of the Bank, and a Member of the Chartered Governance Institute UK & Ireland (ICSA) and a Member of the Mauritius Institute of Directors (MloD).
The Board’s Assurance Framework
The Board ensures that assurance functions and services enable an effective control environment that supports the integrity of information through the combined assurance framework. Assurance providers have been categorised into different lines of defence in the organisation:
- Management – line functions that own and manage their risks
- Internal assurance providers from specialist functions including Compliance and Risk Management divisions
- Internal audit
- External auditors
- External assurance providers
Key Governance Documents
The Key Governance Documents assist the Board, Committees and Leadership Team in their respective duties. The Board has approved various key guiding documents, some of which are:
Annual reports
The latest annual report can be viewed to have an overview of the Bank's vision and governance philosophy as well as the key strategies and initiatives that the Bank adopts in order to create value for its various stakeholders