Page 44 - Stanbic Bank IR 2024

42 EXECUTING OUR STRATEGY | Our Corporate Governance Principles

PRINCIPLE 7 (continued)

Key Collective Skills and Contributions:
Members
Skill Description Value Provided
with Skill
Experience in banking including
investment banking, retail
Banking and banking, global financial markets, The Board’s deep experience in banking enables them to
other Financial or consumer products; and/ 11/13 critically evaluate the Bank’s business model, strategies, and
Services competitive positioning. This expertise ensures that the Bank
or experience in other financial
services, including insurance and remains agile and responsive to industry trends and challenges.
asset management.
Experience in diverse geographic, With significant experience in diverse geographic, political,
Doing business
in sub-Saharan political, and regulatory and regulatory environments across Sub-Saharan Africa and
Africa, environments in Sub-Saharan 10/13 international financial markets, the Board is well-equipped to
International African markets and international oversee the Bank’s operations and client service delivery. This
Markets financial markets, meeting client skill ensures the Bank can effectively navigate complex markets
needs in these jurisdictions. and meet the needs of its customers in varied jurisdictions.
The Board’s universal expertise in monitoring and improving
client and stakeholder relationships ensures that the
Client / Experience in monitoring and
Stakeholder improving client and stakeholder 13/13 Bank maintains strong, trust-based relationships with its
Management relationships. stakeholders. This skill is critical for resolving issues effectively
and fostering long-term partnerships that support the Bank’s
growth and reputation.
The Board’s strong skills in risk assessment, capital
management, and controls enable them to oversee the Bank’s
Skills and experience in
Risk and Capital risk framework effectively in line with regulatory requirements
Management assessment and management of 12/13 and international standards. Their ability to understand and
and Controls risk (including non-financial risk) mitigate both financial and non-financial risks ensures the
and capital management.
Bank operates within its risk appetite and maintains financial
stability.
With a solid foundation in accounting, financial reporting, and
auditing processes, the Board provides rigorous oversight
Knowledge of or experience in
Accounting and of the Bank’s financial position and condition. This expertise
Auditing accounting, financial reporting or 8/13 ensures accurate financial reporting and supports the Board
auditing processes and standards.
in assessing the Bank’s strategic objectives from a financial
perspective.
The Board’s experience in innovative technology, cybersecurity,
Experience with or oversight information systems, and data management enables them
of innovative technology,
Technology / to oversee the security of the Bank’s operations, assets, and
Cybersecurity cybersecurity, information 6/13 systems. This skill is vital as the Bank continues to invest
systems/data management, in digitisation and technology-driven solutions to enhance
fintech or privacy management
customer experience and operational efficiency.
The Board’s experience in managing complex business
Leadership of a Senior executive experience operations and strategic planning ensures they can effectively
large complex managing business operations 12/13 oversee the Bank’s multifaceted operations. This skill is critical
organisation and strategic planning. for aligning the Bank’s activities with its long-term strategic
goals.
The Board’s expertise in people development, succession
People
Development, Experience in senior executive planning, diversity, inclusion, and remuneration enables them
Diversity and development, succession 12/13 to oversee the Bank’s efforts to recruit, retain, and develop
Inclusion and planning, diversity, inclusion, and key talent. This skill ensures the Bank remains competitive in
Remuneration executive remuneration. attracting top talent and aligns executive compensation with
performance and governance standards.
The Board’s knowledge of public company governance and
Public Company Knowledge of public company regulations ensures that the Bank adheres to high governance
Governance governance matters, policies, and 12/13 standards. This skill is essential for shaping the Bank’s
best practices. operation, interacting with stakeholders, and understanding the
impact of governance practices on the Bank’s operations.
The Board’s understanding of regulated businesses, regulatory
Understanding of and experience
Regulation / requirements, and macroeconomic policy enables them to
Public Policy / in regulated businesses, regulatory oversee the Bank’s compliance with applicable regulations.
Macroeconomic requirements, including conduct 12/13 This skill ensures the Bank maintains strong relationships with
Policy and culture, and relationships with regulators and operates with integrity and transparency and
global regulators.
most importantly protects its license to operate.
Knowledge and experience in how The Board’s knowledge of environmental and social issues,
the Bank’s activities affect the including climate change, consumer protection, and community
environment (including impact
Environmental / development, ensures the Bank operates as a responsible
Social on climate change) and society 10/13 corporate citizen. This skill enables the Board to oversee the
(including consumer protection, Bank’s impact on society and the environment, aligning its
community development and operations with sustainable development goals.
protection of human rights, etc).