Board with the power to appoint board committees, and to delegate to such committees any of the authority of the board. The authority of the board to appoint board committees is subject to the company’s Memorandum of Incorporation. To assist the PEGH Board in the efficient discharge of its responsibilities in providing independent oversight of the Company’s management, a number of board committees (Board Committees) have been established, as set out below:
The role of the committee is to perform an oversight function. The members of the Committee will assess, review and update the above terms of reference periodically or as and when there are changes to the regulatory requirements and changes to the direction or strategies of the Company. In doing so, it should consider the risk policy and plan, determine the company’s risk appetite and risk tolerance, ensure that risk assessments are performed regularly, monitor the whole risk management process, and receive assurance from internal and external assurance providers regarding the effectiveness of the risk management process. In turn, management is responsible for the design, implementation and effectiveness of risk management, as well as continual risk monitoring.
A. Provide assistance to the Board in fulfilling its fiduciary responsibilities particularly relating to business ethics, policies and financial management control;
B. Ensure effective corporate governance, internal controls and financial reporting practices.
Investment Committee shall be made up of appropriate Senior Management and Board Directors. They shall ensure investment decisions are made on a timely basis with adequate oversight, due diligence and strong accountability. The key responsibilities and functions of the Investment Committee include:
A. Approving recommendation of all investment and divestment decisions made by PEGH;
B. Approving all decisions pertaining to the management of all investments made by PEGH; and
C. Making a proper oversight of all investment policies and processes.