The people accountable for Viscount
Viscount is governed by a board of directors that sets the bank's risk appetite, approves its policies and holds management to account for running the bank inside those limits. Every director is subject to the Central Bank of Nigeria's fit-and-proper assessment before taking up the role. The pages below set out how that board does its work and the standards its members are held to.
Where the detailed oversight happens
The CBN's guidelines for microfinance banks require a board to delegate detailed oversight to committees with defined charters. Viscount's board has four.
Audit Committee
Financial reporting, internal audit, the external auditor's appointment and findings, and the whistleblowing channel. Chaired by a non-executive director; management attends by invitation only.
Risk Management Committee
Risk appetite, capital and liquidity, operational and technology risk, AML/CFT, and the bank's compliance with prudential limits. Receives the Chief Risk Officer's and Chief Compliance Officer's reports directly.
Credit Committee
Approves credit above management's delegated authority, reviews the loan book's quality and provisioning, and sets the lending policy the bank describes on its Loans page.
Governance and Nominations Committee
Board composition and succession, the fit-and-proper process for new directors and senior officers, remuneration, and the annual evaluation of the board's own performance.
What every person on this page has agreed to
Serving on the board of a Nigerian bank is a regulated position. These are the conditions that come with it.
- Fit-and-proper assessment by the Central Bank of Nigeria before appointment, covering competence, integrity and financial soundness
- Disclosure of interests, and recusal from any decision in which they have one, including credit to related parties
- Insider lending within the limits the CBN sets, disclosed in the accounts and reviewed by the Board Credit Committee
- The bank's code of conduct and the CBN's code of corporate governance, with the whistleblowing channel open to anyone who sees either broken
- An annual evaluation of the board and of each director, reported to the regulator
How the bank is governed, and why it exists
The About page sets out the mandate, the commitments and the full regulatory framework the people on this page work within.
