Page 58 - 2021 ANNUAL REPORT draft

2. Relationship Manager Review • Review the financial and non-financial data and
other attached documentation for accuracy and
completeness
• Ensure that the purpose of the borrowing is
permissible under the Bank’s lending policy and
in line with the CBG credit guidelines.
3. Approving Authorities Approve • Review credit proposal for accuracy and
completeness
• Approve the facility if within limit, otherwise shall
• Group Head
• Divisional Head recommend to the next higher lending authority
• ED/MD
• Management Credit
Committee
• Board Credit
Committee
4. Legal Department Review • Ensure loan agreement documentation are
documentation properly executed by the prospective obligor
• Review collateral documentation for accuracy
and completeness
5. Financial Control • Review • Review the Forward Looking Information (FLI)
and macro-economic variables for

completeness and accuracy
• The Finance department will ensure that all data
fields required under the detailed
S/N Stakeholders Task Responsibilities

disclosure requirement as laid down by the
regulator are being captured and no manual
• Disclosure intervention takes place outside of the ECL
policy and procedures.

• Ensure all relevant information pertaining to the
ECL methodology and the results are
presented to investors and various
stakeholders.
6. Internal Audit Validate ECL • Conduct periodic review and validation of the
valuation approved Internal Ratings assigned to
respective Obligors by Internal Audit
Department
• Independent validation of the ECL valuation
semi-annually
7. External Auditors Validate ECL • Semi-annual review and validation of the
valuation Internal Ratings
• Semi-annual review and validation of ECL
valuation

3.7. Reclassifications

Financial assets are not reclassified subsequent to their initial recognition, except in the year after the
Bank changes its business model for managing financial assets. A change in the Bank’s business model
will occur only when the Bank either begins or ceases to perform an activity that is significant to its
operations such as:
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Guaranty Trust Bank (Gambia) Limited Financial Statements December 2021