Audit Committee
The Audit Committee was formed to assist the Board of Directors to perform their duties and supervisory role with respect to the following matters:
- The Internal control system
- The Performance of the internal audit activity and extent of its independence and effectiveness.
- Reliability of the financial statements and mechanism of preparation and presentation of financial statements.
- Bank's compliance with laws, regulations, legislation and behavioral rules.
Risk Management and Compliance Committee
The committee was established in order to assist the Board of Director in performing its supervisory role throughout the implementation of the Enterprise Risk Management "ERM" framework. The committee's main responsibilities are as follows:
- Reviewing the Enterprise Risk Management "ERM" framework and providing any suggestions and recommendations to the Board of Directors regarding the framework yearly or whenever needed.
- Reviewing the Risk Appetite Statement and any policies and methodologies emerged from the ERM framework. Besides providing any suggestions and recommendations to the Board of Directors yearly or whenever needed.
- Reviewing and monitoring CBJ’s Risk profile, and providing any advices in regard to the Board of Directors.
- Reviewing Compliance Policy, AML/ CTF Policy, Anti- Fraud Policy, and providing the committee’s recommendations and suggestions to the Board of Directors in this regard.
- Reviewing and Discussing Business Continuity Management’s periodic reports which submitted to the Board of Directors.
- Reviewing and monitoring key risk reports and risk treatment strategies, and providing any suggestions and recommendations to the Board of Directors in this regard.
- Cooperating with other committees, mainly the Audit Committee/ Board, with the aim of exchanging information relevant to the Risk Committee.