Board Committees

Board Audit Committee

The Audit Committee is the board committee that assist the Board of Directors in fulfilling its oversight responsibility relating to internal control, performance review, compliance with legal and regulatory requirements.

‌The primary responsibilities of this committee are including: 
‌• Ensuring accuracy of financial statements;
• Ensuring effectiveness of internal control system;
‌• Reviewing internal auditors’ and head of internal audit department’s performance;
• Reviewing the external auditor scope and performance;
• Reviewing the effectiveness of the system for monitoring compliance with laws and regulations;
‌• Reporting to Board of Directors;
• Meeting at least quarterly.

The committee is chaired by an independent board member with expertise in finance, accounting, legal issues and/or banking. Currently, the Audit Committee is composed of:

No

Name

Position

Role in Committee

1

Hans Michael Theodor Moormann

Independent Director

Chair

2

Brindley Chrishantha Gajanayake de Zylva

Chairman

Member

3

Indrajith Wijesiriwardana

Independent Director

Member


‌Board Enterprise Risk Management and Compliance Committee

The Enterprise Risk Management and Compliance Committee is the board committee that monitor the implementation of risk management policies and compliance work as defined by the Board. ‌The primary responsibilities of this committee are including:
‌• Ensuring that there is an effective risk management system for the operation of the business;
‌• Ensuring that there are proper policies in place;
‌• Meeting at least quarterly;
‌• Reporting to the Board of Directors.

‌The Committee is chaired by an independent board member with expertise in finance and risk management. The Enterprise Risk Management and Compliance Committee is composed of:

No

Name

Position

Role in Committee

1

Hans Michael Theodor Moormann

Independent Director

Chair

2

Brindley Chrishantha Gajanayake de Zylva

Chairman

Member

3

Francisco Kankanamalage Conrad Prasad Nirosh Dias

Independent Director

Member


Board Appointment and Remunerations Committee

The Appointments and Remunerations Committee is the board committee that overview effective organizational structure in operations and competitive human resources and compensation policies and practices.
‌The primary responsibilities of this committee are including:
‌• Reviewing all aspects of human resource management (HRM) policy including remuneration issues;
‌• Ensuring the effectiveness and efficiency of the practice of the HRM policy;
‌• Proposing to the Shareholders for compensation of directors and ensuring fair treatment to all employees;
‌• Ensuring the full compliance of HRM policy with Cambodian laws and regulations;
‌• Meeting at least quarterly;
‌• Reporting to the Board of Directors.

The Appointments and Remunerations Committee shall be chaired by an independent board member with expertise in human resource management, legal issues, and banking. Currently, the committee is composed of: 

No

Name

Position

Role in Committee

1

Indrajith Wijesiriwardana

Independent Director

Chair

2

Francisco Kankanamalage Conrad Prasad Nirosh Dias

Director

Member

3

Dulip Rasika Samaraweera

Director

Member


‌Board IT Steering committee

The IT Steering Committee is the board committee that overview the major IT-related development and issues. ‌The primary responsibilities of this committee are including
‌• Ensure IT investments represent a balance of risks and benefits, and those budgets are adequate;
‌• Recommend priorities for new technology initiatives that benefit LOLC’s business operations;
‌• Ensure that the IT Strategic Plan is aligned with the Business Plan;
‌• Oversee and monitor the execution of the IT strategy.

‌The Committee is chaired by an director who has a firm background related to IT. The IT Steering Committee is composed of.

No

Name

Position

Role in Committee

1

Francisco Kankanamalage Conrad Prasad Nirosh Dias

Director

Chair

2

Brindley Chrishantha Gajanayake de Zylva

Chairman

Member

3

Indrajith Wijesiriwardana

Independent Director

Member