IT Strategy Committee :

This committee assists the Board to track the progress of the Bank’s IT initiatives. Some of the important functions of the committee are

(a) approving IT strategy and policy documents, ensuring that the management has put an effective strategic planning process in place;

(b) ensuring that the IT operational structure complements the business model and its direction;

(c) ensuring IT investments represent a balance of risks and benefits and those budgets are acceptable;

(d) evaluating effectiveness of management’s monitoring of IT risks and overseeing the aggregate funding of IT at the Bank level; and

(e) reviewing IT performance matches with the bank’s policy/plans