Corporate Governance

The Board is required to have extensive business acumen to bring accountability and sound judgement to the Board’s deliberations to ensure optimum benefit to members, employees and the wider community.

• The responsibilities of the board include: Providing strategic guidance to the Society including contributing to the development and approval of the corporate strategy.
• Reviewing and approving business plans, the annual budget and investment plans, including capital resources procurement and major capital expenditure initiatives
• Overseeing and monitoring:
  • Organisational performance and the achievement of the Society’s strategic goals and objectives.
  • Compliance with the Society’s Code of Conduct.
  • Progress of major capital expenditures and other significant corporate projects including any acquisitions or investments.
• Monitoring financial performance, treasury operations including approval of the annuals and half-year financial reports.
• Appointment, performance assessment and if necessary removal of the Chief Executive Officer.
• Ensuring there are effective management processes in place and approving major corporate initiatives
• Enhance and protect the reputation of the organisation.
• Report to members and monitors that all Bank of PNG regulatory requirements are met;
• Oversee internal controls and processes for identifying areas of significant business risk;
• Ensure that Teachers Savings and Loans Society’s business is conducted ethically and transparently.

Review Board of Directors Code of Conduct here