Queenbank Corporate Governance

Our ground to the next level

     The Bank's Board of Directors, led by Chairperson Margaret Ruth C. Florete, is primarily responsible for approving and overseeing the implementation of the bank's strategic objectives, risk strategy, corporate governance and corporate values. Further, the Board of Directors is also responsible for monitoring the performance of senior management as the latter manages the day to day affairs of the Bank leading towards the attainment of its goals for the interest of the institution, its shareholders and other stakeholders. It is composed of 11 directors including three independent directors.


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. Three 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, three 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 three Executive Directors, Treasury Department Head, Central Accounting Group Head, and Portfolio Admininstration Unit Head are members of this committee. The Chief Compliance Officer acts as observer in the committee meetings.

Risk Management Committee

     The Risk Mangement Committee monitors and evaluates the effectiveness the bank's overall risk management system.

Audit Committee

     The Audit Committee examines financial reports, conducts review of external and internal audit reports, 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.