Management Committee Charters
Purpose

The Management Committee has been created to provide a forum for the participate in senior level managers to actively key management decisions that need to be taken from time to time and to act as a sounding board for the major decisions or actions that need to be taken by the CEO in their role in providing overall management of the Bank

Authority
  • The Management Committee is primarily a decision making body along with being an information forum and a platform for discussion of issues.
  • All decisions are to be taken by a simple majority vote. The casting vote in the event of a tie will be that of the Chairman.
Composition
  • The Composition of the Management Committee will be determined by the CEO and will include representatives of the relevant divisions
  • Other members of the management can be invited on a case by case basis; however, they will not constitute a part of the Management Committee
Meetings
  • The meetings will be chaired by the CEO or his Deputy
  • The Committee shall meet monthly or as required.
  • The Committee shall meet, in person or telephonically, or by circulation of documents.
  • Majority of the members must be present in order for a quorum to be achieved at the meeting.
  • Meeting will be held after the monthly results are available for review
Responsibilities

The Committee shall be responsible for:
  • Annual strategy objectives and report
  • Determine initial strategy, policies for the Bank
  • Make recommendations on changes in existing strategies or policies
  • Review monthly performance against the business plan and budget and make recommendations for any changes / corrective actions to be taken
  • Review, discuss, and provide guidance on monthly operations reports that are presented to the group that are covered in the financial reporting or business plan reports
  • Provide guidance and advice to the CEO on any items that could materially affect the results or operations of the Bank overall
  • Discuss any significant or unusual business opportunities that may be present in the market place
  • Provide advice and guidance for any changes to the organization structure, changes in branch expansions or relocations, any legal matters that may arise, and Senior appointments that may be imminent.
  • Review and provide guidance on any major salary or benefit program changes as well as advice on setting the parameters for annual reviews and bonus policies.
  • Oversee and provide guidance and advice to the CEO on any major change program taking place in the bank
  • To review and discuss issues arising from other committees minutes and reports
  • Credit and Investment Committee
  • Human Resources Committee
  • IT Committee
  • ALCO
  • Work on special projects that may be assigned from time to time by the CEO
  • Provide guidance to the CEO on Corporate and Social Responsibility (CSR) aspects that integrates social and environmental concerns into Ajman Bank's business operations and the interaction with their stakeholders.