Member of Board of Supervisors for State Owned Banks

Vacancy Number:KVID20181026-60325
Title: Member of Board of Supervisors for State Owned Banks
Category:Banking
Duration:One year with possible extensions up to four years based on performance
Exp.:2018-10-26-(1 Week From now)
Jobs no:4
Salary:agreed scale and will be paid per each meeting
Gender:Male/Female

Location

Organization:Ministry of Finance |About Ministry of Finance
City:Kabul
Country:AF

Qualification

Education:Master’s degree
Work Experience:7-10 Years
Qualification:

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
Demonstrated leadership skills
Strong and diverse banking experience
Impeccable character
Involvement or awareness of the financial and banking sector
Sound understanding of local community and the proposed banking market

Demonstrable knowledge of Da Afghanistan Bank its role and operations.
Experience in management
Experience in audit
Experience in insurance

Experience:

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

To approve the banks organizational structure

To make decisions regarding the establishment and dissolving of subsidiaries branch offices and representative offices of the bank

To appoint and dismiss members of the bank’s Board of Management and to agree their remuneration as members of the Board of Management

To oversee and make recommendations on the performance of the banks Board of Management

To consider make recommendations on revisions to and approve the banks business strategy and annual budget

To consider make recommendations on revisions to and approve policies for the conduct of operational performance including the banks risk management policy

To consider and make recommendations on potential or actual conflicts of interest

To issue guidance to the Board of Management for the successful implementation of agreed policies

To determine the conditions under which credit may be granted by bank employees including where the granting of credit requires the prior approval of the Board of Supervisors

To ensure that the bank’s processes systems and operations respond adequately to Da Afghanistan Bank’sand related legislation and regulations

To ensure the adequacy of internal controls and risk management systems for the bank

To ensure the integrity of the banks financial reporting including financial reporting to Da Afghanistan Bank

To ensure that appropriate Internal Audit functions systems and processes are established

To receive and consider reports from the Internal Audit Department at meetings of the Board of Supervisors

To make recommendations to the General Assembly on matters requiring shareholders’ approval

To make recommendations to the General Assembly concerning the appointment of the external auditors for the bank

To ensure the timely execution of the banks annual external audit

To follow up with the Board of Management and banking officers on any managerial letters or qualifications identified in the annual external audit process

To take decisions concerning capital distributions subject to the legislative and regulatory requirements of Da Afghanistan Bank and what amount of any net profit of the bank shall be transferred to bank reserve

To take decisions in accordance with the requirements of current Da Afghanistan Bank’scurrent legislation and regulations regarding the distribution of capital or any net profit

To proactively and pre-emptively advise Da Afghanistan Bank in writing or require the Board of Management to do so of any deterioration in the financial situation of the bank of any identified risk of such deterioration and any other facts that may materially affect the financial situation of the bank and in particular if the bank becomes undercapitalized

To ensure implementations of directives and instructions issued by Da Afghanistan Bank

To take decisions on any other matters placed in the competence of the Board of Supervisors by the banks charter or by-laws



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

A special meeting is requested by the Internal Audit Committee or external auditor of the bank

It is instructed to do so by Da Afghanistan Bank.



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.


Submission Guideline

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.
Please mention the name of the position and vacancy number you are applying for in your emails subject line.

To:[email protected]

Cc:[email protected]
Application received after the deadline will not be considered.
Only shortlisted candidates will be contacted for test/interview
The vacancy announcement is open only Afghan national(s) applicants

Email:[email protected] [email protected]
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