Role
The Executive Committee acts as a collective corporate body of Alpha Services and Holdings. Its powers and authorities are determined by way of a CEO Act.Responsibilities
The Executive Committee:
- Prepares the strategy, business plan and annual budget, as well as the annual and interim financial statements.
- Decides on and manages the capital allocation to the business units.
- Prepares the Internal Capital Adequacy Assessment Process (ICAAP) Report and the Internal Liquidity Adequacy Assessment Process (ILAAP) Report.
- Reviews and approves the Policies of Alpha Services and Holdings.
Other duties
In addition, the Executive Committee:
- Monitors the performance of each business unit and subsidiary versus the budget and ensures that corrective measures are taken.
- Approves and manages any collective programmes proposed by the Human Resources Unit for the employees, and ensures the adequacy of Resolution Planning governance, process and systems.
The Committee is also responsible for implementing:
- The overall risk strategy, including the risk appetite and risk management framework.
- An adequate and effective internal governance and internal control framework.
- The selection and suitability assessment process for Key Function Holders.
- The amounts, types and distribution of both internal capital and regulatory capital.
- The targets for liquidity management.