Member of Board of Supervisors for State Owned Banks
Member of Board of Supervisors for State Owned Banks
|Title:||Member of Board of Supervisors for State Owned Banks|
|Duration:||One year with possible extensions up to four years based on performance|
|Exp.:||2018-10-26-(1 Week From now)|
|Salary:||agreed scale and will be paid per each meeting|
|Organization:||Ministry of Finance |About Ministry of Finance|
|Work Experience:||7-10 Years|
Qualifications for membership of the Board of Supervisors
Key qualifications for membership of the Board of Supervisors may include but are not limited to:
A history of community bank involvement
Demonstrable knowledge of Da Afghanistan Bank its role and operations.
7-10 years’ experience directly related to a commercial bank Experience and audit operating systems Excellent analytical creativity and problem solving skills.Able to advise for improvements.
Duties & Responsibilities
Responsibilities of the Board of Supervisors
The responsibilities of Boards of Supervisors of individual banks may vary slightly from bank to bank but the principal responsibilities are:
To convene each session of the General Assembly of the shareholders and adopt the agenda for each session
General responsibilities of the Board of Supervisors
The Board of Supervisors is ultimately responsible and is accountable to all stakeholders (including the General Assembly depositors and Da Afghanistan Bank) for the conduct of the banks affairs and condition.
Although the Board members cannot guarantee success they are expected to supervise bank operations to ensure that they reflect sound planning are effectively governed by comprehensive policies and internal control procedures and are administered by competent management.
While the Board of Supervisors may depend upon the Board of Management’s technical industrial and managerial expertise to run the banks day-to-day operations members of the Board of Supervisors remain responsible for ensuring that those operations are properly controlled comply with the policies adopted by the Board of Supervisors and applicable laws and notifications and are consistent with sound banking practices.
Ensuring appropriate policies and procedures are in place
The Board of Supervisors must adopt and approve written policies and procedures that direct management on all significant banking activities and the management of risk including what banking practices and levels and types of risk are acceptable.
All major areas of the institutions business should be covered by appropriate policies and procedures which must be in place before any new activity begins.
The policies should establish clear standards and responsiveness to changing business conditions. Associated procedures should detail how the policies will be implemented and include steps for obtaining appropriate approval of Board of Supervisors for exceptions.
Monitoring operations ensuring adequate internal controls and compliance with laws and regulations
The Board of Supervisors must ensure that the Board of Management implements the policies and procedures as well as any corrective actions required by the Da Afghanistan Bank. To achieve this goal the Board of Supervisors should ensure that management incorporates a sound system of internal controls into the banks day-today operating procedures.
The Board of Supervisors should require periodic briefings and written reports from the Board of Management regarding the financial condition and operation of the bank and recommendations for maintenance or improvement. The Board of Supervisors should closely examine such reports and recommendations to verify their accuracy and feasibility.
The Board of Supervisors should hold frequent regularly scheduled meetings (not less than monthly) in order to properly monitor the banks operations. Special meetings should also be held if circumstances warrant the boards immediate attention between regularly scheduled meetings.
At all Board of Supervisors meetings complete minutes should be taken to record significant decisions and discussions.
The Board of Supervisors responsibilities to supervise the financial operations of bank are not diminished by the examiners of Da Afghanistan Bank. The Board of Supervisors is independently responsible for the banks financial condition and may not rely on Da Afghanistan Bank examiners to identify or correct problems.
The Board of Supervisors should expect its auditors and the Board of Management to assist it in identifying any problems the bank may experience.
Prevention of Conflicts of Interest
To achieve the goal of ensuring that the personal interests of members of the Board of Supervisors and Board of Management do not conflict with the best interests of the bank the Board of Supervisors should:
Establish and adhere to a written policy on salaries fees loans and expenses granted to insiders of the institution especially members of the Board of Supervisors and Board of Management
Consult with the banks legal advisors before entering into or approving transactions involving the bank with members of the Board of Supervisors or Board of Management except transactions that are allowed as per banks policies approved by the Board of Supervisors
Meetings of the Board of Supervisors
This is not a full time employment and the board members will be working as part time.
Board of Supervisors shall meet regularly at least once a month.
Special meetings may be held as necessary. A special meeting shall be called if:
The bank becomes undercapitalized
Da Afghanistan Bank may require a bank to hold a special meeting of its Board of Supervisors if it deems it necessary and to consider the matters set forth in a written notice of Da Afghanistan Bank.
Relationships between Shareholders and the Board of Supervisors
Members of Board of Supervisors shall be appointed by the General Assembly or in any extraordinary meeting of the General Assembly according to the Article 49 of Banking Law of Afghanistan. Before a bank appoints a person to serve on its board of supervisors or management board the bank must propose the issue to Da Afghanistan Bank as well as submit documents pursuant to Article 12 of the Afghan Banking Law during an application for a banking license and shall obtain Da Afghanistan Bank’s authorisation.
The Board of Supervisors will ensure that within the framework of the statutory rules Shareholders are properly provided with appropriate information to enable them to reach a decision.
The Board of Supervisors directly reports to Shareholders and advises on related matters.
Interested Afghan nationals should submit their application to comprising an updated CV a one-page cover letter (i.e. cover page CV and supporting educational documents should be in one file and not submitted separately) explaining the candidates interest and suitability for the advertised position.
|Email:||[email protected] [email protected]|