Governance

Structure

 

Governance Structure

Governance Structure

Shareholder’s Meeting: Shareholders meetings are duly convened and held in line with the Bank’s Regulations and existing statutory and regulatory regimes in an open manner, for the purpose of deliberation on issues affecting the Bank’s strategic direction. This occurs through a fair and transparent process and also serves as a medium for fostering interaction between the Board, Management and Shareholders. Attendance at the Annual General Meeting is open to all shareholders or their proxies. The Board ensures that shareholders are provided with the requisite notice of the Meeting.

 

Access Bank has a Whistle Blowing policy which provides the procedure for reporting suspected breaches of Access Bank’s internal policies, laws and regulations. There is a special e-mail address and telephone hotline dedicated for whistle-blowing. The Bank’s Chief Compliance Officer (CCO) is responsible for monitoring and reporting on Whistle Blowing.

Access Bank has articulated a “Code of Conduct” which specifies expected behaviour of its staff. The Code requires that each Bank staff shall read the Code of Conduct document and sign a confirmation that they have read and understood the document upon employment. In addition, there is a re-affirmation process that requires each member of staff to confirm understanding of and compliance with the Code of Conduct at least once in each year. The Bank has a Compliance Manual, which provides guidelines for addressing violations/breaches and ensuring enforcement of discipline with respect to staff conduct. The Bank also has a Disciplinary Guide which provides sample offences/violations and prescribes disciplinary measures to be adopted in various cases. The Head of Human Resources is responsible for the design and implementation of the “Code of Conduct” while the Chief Compliance Officer is responsible for monitoring and ensuring compliance.

The Bank has a Succession Planning Policy which was approved by the Board. Succession Planning is aligned to the Bank’s performance management process. The policy identifies  key positions including Country Managing Director positions for all Access Bank operating entities in respect of which there will be formal succession planning, the Bank’s policy provides that potential candidates for the other positions shall be identified at the beginning of each financial year by the Human Resources Head, based on performance and competencies.

The Board carries out its oversight function through its standing committees each of which has a charter that clearly defines its purpose, composition, and structure, frequency of meetings, duties, tenure and reporting lines to the Board. In line with best practice, the Chairman of the Board does not sit on any of the committees. The Board’s five standing committees are: The Board Audit Committee, the Board Risk Management Committee, the Board Governance and Remuneration Committee, the Board Credit Committee and Board Asset and Liabilities Committee.