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QUEENBANK Corporate Governance
Our ground to the next level

     
     Queen City Development Bank (QCDB) adheres to high standards of corporate governance.
It is through this that we attain Queenbank’s goals and objectives. Principles of good management and transparency enable us to provide a more sustainable increase in the value of our company.

     Queenbank believes that proper principles and practices are indispensable in achieving its primary goals in enhancing and maximizing the growth and development of shareholder value and ensuring the trust and confidence of its investors and depositors.

     The Securities and Exchange Commission (SEC) Code of Good Corporate Governance is the basis of Queenbank’s corporate governance policies. The Code was created in the pursuit of best practices of transparency, disclosure, compliance to applicable laws and regulations, stewardship and accountability to owners, employees and depositors of the bank.

Board of Directors

     The Board of Directors (BOD) is on top of the organization. It is the main organ in which this institution moves in upholding the standards of corporate governance. It is responsible for establishing the overall corporate objectives, policies and plans that will guide the activities and operations of the bank.

     Our Board consists of eleven directors who are all qualified business professionals with the experience and expertise in the field. Four members are also executive directors.

     The Board oversees the management of the business and affairs of the bank so as to ensure effective operation, profitability, accountability, viability and development. It also advocates and upholds established standards of corporate governance. The members are accountable to the regulators and to the public. It is made up of various committees which are tasked to carry out various functions.

Committees that matter

     In order to achieve the goals and objectives of corporate governance, the following committees have been created to support the Board in performing its functions:

Executive Committee

     The Executive Committee performs powers and functions subject to certain statutory limits and restrictions as delegated by the Board. It supervises the management of the bank as prescribed by the Board, implements bank strategies and policies, and monitors the business operations through performance measures.

     At present, four members of the Board are Executive Directors.

ALCO and Other Risks Committee

     The Assets and Liabilities Committee (ALCO) and Other Risks Committee meet regularly in order to discuss and manage various inherent risks such as credit, market, interest rate, liquidity, operational, technology, legal, regulatory, and other risks. Its principal function is to assess the funding requirements for loans and other commitments.

     The four Executive Directors, Department Heads and Compliance Officer are members of this committee.

AMLA Committee

     The Anti-Money Laundering Act (AMLA) Committee is tasked to oversee the bank’s compliance to the Anti-Money Laundering Act of 2001. The committee formulates general policy guidelines and implements the rules imposed by the AMLA for compliance from the branches and departments of the institution.

     The bank’s Compliance Officer, Branch Banking Group Head and Branch Heads comprise the AMLA Committee.

Audit Committee

     The Audit Committee performs responsibilities in financial reporting, conducts external and internal audit, monitors and oversees the system of internal control and accounting, and establishes compliance with regulatory requirements.

Human Resource Management and Nominations Committee

     The Human Resource Management and Nominations Committee is responsible for setting human resource standards in the areas of recruitment, training and development, compensation and benefits planning and administration, performance appraisal and merit program, employee relations and corrective action, retirement and separation of the bank’s employees.

     Three directors who are senior officers, the Human Resources Head and the Central Accounting Group (CAG) Head are members of this committee.

Where to?

     A culture of commitment will mitigate risks and prepare us to face demands in the banking industry as we move forward. We believe that Queenbank’s commitment will nurture your success.

                                                                                                                                                               Queenbank's ALCO