a) Ensuring a formal and transparent Board nomination process;

b) Appointing senior managers, and ensuring that they have the necessary integrity, technical and managerial competence, and experience;

c) Overseeing succession planning and replacing key executives when necessary, and ensuring appropriate resources are available, and minimising reliance on key individuals;

d) Reviewing the remuneration and incentive packages of the executive management and members of the Board of Directors and ensuring that such packages are consistent with the corporate values and strategy of the bank;

e) Effectively monitoring and making formal (annual) evaluations of senior management's performance in implementing agreed strategy and business plans;

f) Approving budgets and reviewing performance against those budgets and key performance indicators; and

g) The management of the bank's compliance risk.