ty JD CEO – Sonali Bangladesh | UK

Job Description | Chief Executive Officer and Company Secretary

Purpose of Role:

The Chief Executive is responsible for running the Bank in full compliance with the UK statutory and regulatory regime and the limits delegated by the Board.

The Chief Executive Officer is one of two Executive Directors and is a Member of the Board of Directors.

Reports to: The Chairman of the Board of Directors

Accountabilities: The list below is a guide to duties and is not exhaustive.

Main Duties: Chief Executive Officer

  • Develop the Bank’s strategy and ensure that the agreed strategies are reflected in the business plan and put into operation

  • Develop the Business Plan in consistency with the agreed strategies and ensure that all the necessary resources are in the place for them to be achieved

  • Develop and maintain a strong and effective compliance culture within the Bank

  • Ensure that Senior Management teams obtain expert advice and guidance when investigating new business initiatives/areas where their knowledge/experience is limited to mitigate the risk of wrong advice to the organisation

  • Maintain awareness and understanding of the strategic risks faced by the Bank arising from sources such as:

     o depressed economic conditions;

     o collapse of the banking industry

     o increased consumerism and competition

     o increased risks of financial crime

  • Prepare the organisational structure and establish processes and systems to ensure efficient management of the human resources

  • To be a Member of the following committees:

     o Executive Committee (Committee Chairperson)

     o Assets and Liabilities Committee (Committee Chairperson)

     o Credit Committee

     o Operations Committee

  • To be an attendee at Audit Committee, Remuneration Committee and other committees and groups as guest

   • Ensure proper implementation of systems and controls requirements in liquidity regime

  • Implement capital adequacy and liquidity management and act in accordance with the Regulator’s requirements

   • Lead the executive team including the agreement of performance contracts and appraisal

    • Develop and maintain an effective framework of internal controls over risks in relation to all business activities

   • Establish a close relationship of trust with the Directors, reporting key developments to them in timely manner and seeking advice and support as appropriate

   • Develop processes and structures to ensure that all associated risks to the shareholders’ investment are identified, documented, compared with approved risk appetite and that appropriate steps are taken to mitigate those risks

   • Develop and promote effective communication with all stakeholders

   • Oversee promotion, marketing and quality of products and services

   • Promote a positive atmosphere that creates positive staff morale and performance and keep track of all areas of operation

   • Implement decisions made by the Board and Board and other committees

   • Recommend annual budgets to the Board and ensuring they are achieved once approved

   • Optimise business opportunities and managing the Bank’s resources

   • Provide management information that is accurate and ensure that systems and controls in place are robust

   • Act within the powers of the Bank’s memorandum and articles of association and within the restrictions of any legislation and regulatory rules

   • Ensure that a wide-ranging perspective is provided to the overall running of the Bank in setting and monitoring the Bank’s strategy

   • Enhance and promote the Bank’s image and reputation in any contact with the media, financial analysts, members and public

   • Set the Bank’s values culture and standards and ensure that its obligations to its stakeholders and others are understood and met

   • Ensure that the business of the Bank complies with all the necessary regulatory requirements

   • Act as an approved person under the FCA regime, including complying with the relevant personal Statement of Responsibility within the Bank’s Responsibilities Map provided to the FCA.

   • Comply with the FCA’s Principles of Business (PRIN)

   • Observe the standards of conduct set out in the Financial Conduct Authority’s Statements of Principle and the Code of Conduct for Approved Persons.

   • Meet and maintain the standards under the FCA’s Fitness and Propriety of Directors (FIT)

   • Provide information and advice on succession planning and have input to the Induction programme for newly appointed Directors

   • Lead the executive team including the agreement of performance contracts and appraisal

   • Develop and maintain an effective framework of internal controls over risks in relation to all business activities

   • Establish a close relationship of trust with the Directors, reporting key developments to them in timely manner and seeking advice and support as appropriate

   • Develop processes and structures to ensure that all associated risks to the shareholders’ investment are identified, documented, compared with approved risk appetite and that appropriate steps are taken to mitigate those risks

   • Develop and promote effective communication with all stakeholders

   • Oversee promotion, marketing and quality of products and services. And should have well established network with the commercial banks of Bangladesh

   • Promote a positive atmosphere that creates positive staff morale and performance and keep track of all areas of operation

   • Implement decisions made by the Board and Board and other committees

   • Recommend annual budgets to the Board and ensuring they are achieved once approved

   • Optimise business opportunities and managing the Bank’s resources

   • Provide management information that is accurate and ensure that systems and controls in place are robust

   • Act within the powers of the Bank’s memorandum and articles of association and within the restrictions of any legislation and regulatory rules

   • Ensure that a wide-ranging perspective is provided to the overall running of the Bank in setting and monitoring the Bank’s strategy

   • Enhance and promote the Bank’s image and reputation in any contact with the media, financial analysts, members and public

   • Set the Bank’s values culture and standards and ensure that its obligations to its stakeholders and others are understood and met

   • Ensure that the business of the Bank complies with all the necessary regulatory requirements

   • Act as an approved person under the FCA regime

   • Comply with the FCA’s Principles of Business (PRIN)

   • Observe the standards of conduct set out in the Financial Conduct Authority’s Statements of Principle and the Code of Conduct for Approved Persons.

   • Meet and maintain the standards under the FCA’s Fitness and Propriety of Directors (FIT)

   • Provide information and advice on succession planning and have input to the Induction programme for newly appointed Directors

Key Compliance Performance Indicators:

A) Assessments by the Regulator; Internal Audit and the Bank’s Compliance Function, of the extent to which the Bank is compliant with its obligations under the UK statutory and regulatory regime must identify no serious issues of non-compliance;

B) Evidence of oversight, including notes of monthly meetings with the DSM and visits to the Branches, must be on file and referred to in the reports to the Audit Committee and the Board;

C) Job Descriptions and appraisals for all Management and staff must include KPIs and performance related pay;

D) Independent assessment of the compliance culture in the Bank must not identify any significant weaknesses;

F) Evidence of regular risk based and job focused AML training must be held on file.

G) Evidence must be available that confirms that the competence of each employee has been tested and action taken to address failure to achieve the required levels of competence.

The job description is subject to regular review and may be amended to reflect changing practice priorities.