The Group Executive Committee (“Group EXCO”) is FAB Group’s most senior management level committee and it operates under a delegated authority from the FAB Board. It is responsible for identifying matters required or appropriate for escalation to the Group Board or Board Committees. The Group EXCO also supports the GCEO to determine and implement the Bank’s strategy as approved by the FAB Board.
The key responsibilities of the Committee include decisions on the Bank’s strategy, annual budgets, capital management, risk management and FAB’s more material policies and procedures. The Group EXCO may delegate certain authorities and powers to management committees and individuals, but it reserves the authority to deal with strategy, annual budget and structure; financial reporting and controls; capital management; risk and internal control; contracts; corporate governance matters; executive remuneration, human resources policies, group policies, general meeting of shareholders and any other matters in its discretion.