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Governance

TMRC will have a board of 5 to 13 members who will principally be the Chief Executive Officers of the participating Institutions. The Board is responsible for the formulation of policies and strategies of the Company.

The TMRC Board is supported by Board Committees which are appointed and delegated with authority to decide on certain issues and to recommend the more important ones to the Board for approval.

a. Board Audit & Risk Committee – Reviews the audit of the Company’s operations as well as the effectiveness of the financial and internal controls. The Internal Auditor and External Auditors will report directly to the Board.

b. Board Credit Committee – The commitee responsibility is also to ensure there is proper oversight of risks of the Company. Board of Directors sets the risk appetite and tolerance level that is consistent with the Company’s overall business objectives and risk principles. The BARC assists the Board of Directors by ensuring that there is effective oversight and development of strategies, policies and procedures to manage risks.

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