Corporate GovernanceCorporate governance refers to the way in which a Company is governed, how it makes decisions, its processes and policies, and how it balances the varying interests of its stakeholders, including its shareholders, customers, employees and generally, the Community in which it operates. Sound corporate governance policies and practices are important to the creation of shareholder value and maintaining the confidence of customers and investors alike.
The ACB Caribbean Board of Directors is committed to excellence in Corporate Governance and has established a structure that enables members to perform their responsibilities and duties with integrity, honesty and in a professional manner, in accordance with the Company's Bylaws and other legal and regulatory requirements.
These ideals are fostered throughout the Company by a proactive governance culture that has consistently adopted industry-leading standards.
The role of the Board of Directors has two fundamental elements:
- the decision-making function - this is exercised with respect to the formulation with Management of fundamental policies and strategic goals and through the approval of certain significant business decisions;
- the oversight function - this concerns the review of Management’s decisions, the adequacy of internal systems and controls and the implementation of policies.
- Governance and Executive Committee;
- Audit & Risk Management Committee;
- Credit Committee;
- Human Resources & Compensation Committee;
- Technology Committee;
- Scholarship Screening Committee.
ACB Caribbean regularly reviews its corporate governance policies and procedures at all levels and the Board implements changes to its corporate governance framework, where appropriate.