Management Committees play an integral part of Global’s Corporate Governance and Internal Control structure. These Committees are platforms for senior management to brainstorm and discuss strategic, business & operational issues and implement necessary action plans, thereby providing strategic, operational and governance oversight to the Company on a regular basis. The Committees operate through board approved mandates and charters.
The Executive Committee provides strategic oversight over the Business Departments of the Company and reviews the Company’s overall performance. The Committee pro-actively reviews the progress made by the business units in achieving their budgeted goals, progress made on key strategic projects and initiatives and enhances the synergies across the Business Departments.
New Products Committee
The purpose of the Committee is to ensure adherence to regulatory requirements, presence of internal controls and appropriate governance in the new products’ development process and institutionalization of proper marketing, IT & operational support prior to new product launches.
In undertaking its responsibilities, the Committee ensures that the new product has been approved by the Executive Committee of Global and recommendations from the Executive Committee have been taken into consideration.
Asset Management Committee
The objective of the Committee is to provide oversight to the Asset Management business of the Company by reviewing the macro economic outlook, the asset allocation amongst all related markets, monitoring and reviewing the performance of all the products of the Company against the benchmarks and competitor products, the overall performance of the Asset Management Departments of the Company and reviewing the growth of the Assets under Management.
The purpose of the Committee is to assist the Board in discharging its responsibility of due care, diligence and skill to oversee, direct and review the management of credit risk within the loan portfolio of Global.
Loans Write Off Committee
The Committee is responsible and accountable for approving loan write offs.
The Committee reviews and approves provisions on the individual loan accounts to reflect the future recoverability, on an omnibus basis for the entire loan portfolio.
The Committee provides general oversight on Global’s compensation structure including long term rewards and benefits programs, reviews and provides guidance on Global’s HR programs, workforce programs, talent review and leadership development and best place to work initiatives, among others.