DBS Group Holdings Board of Directors
DBS Committee Chart
DBS is committed to achieving corporate fairness, transparency and accountability through a well-defined corporate governance structure. The board of DBS Group has adopted codes of conduct, as well as management systems to improve compliance to these codes, based on the regulations and guidelines issued by the Monetary Authority of Singapore (MAS) and the Singapore Exchange (SGX). DBS considers good corporate governance to be the cornerstone of a well-managed organisation and strives to continually improve its governance framework.
DBS' 2012 annual report contains reports on corporate governance and risk management that describe DBS' main practices in these areas. Read more here.
A critical element of Corporate Governance at DBS is an active board and management committee structure that undertakes a careful review of decision making within the Group at various levels.
The committee reviews strategic matters such as country and business strategies, and strategic mergers and acquisitions. The Board has delegated to Executive Committee the authority to approve credit lines, decide on non-strategic investments and divestments, and to review budget and financial plans. Executive Committee's authority is defined in its terms of reference and is aligned to the Group Approving Authority, an internal framework to ensure that the delegation of authority at various levels is consistently applied throughout the Group.
The committee supervises the Group's internal controls and interacts with the external auditor to ensure compliance with regulations governing accounting standards and financial reporting.
The Committee searches for Board nominees and assesses their suitability and independence. It also ensures that Board members commit appropriate amounts of their time to discharge their duties and performs an annual evaluation of directors.
Compensation and Management Development Committee
The Committee oversees compensation policies and management development to ensure that the remuneration policies are in line with strategic objectives.
Board Risk Management Committee
The Committee reviews issues such as capital adequacy and the effectiveness of risk management practices and policies.