Page 70 - 2021 ANNUAL REPORT draft

The Board Committees are assisted by the various Management Committees in identifying and assessing
risks arising from day to day activities of the Bank. These committees are:

• The Management Credit Committee;
• Criticized Assets Committee;
• Asset and Liability Management Committee (ALMAC); • Management Risk Committee;
• Other Ad-hoc Committees.

These committees meet on a regular basis while others are set up on an ad-hoc basis as dictated by the
circumstances. The Bank’s Audit Committee is responsible for monitoring compliance with the risk
management policies and procedures, and for reviewing the adequacy of the risk management framework
in relation to risks faced by the Bank. The Audit Committee is assisted by the Internal Audit department, in
carrying out these functions. Internal Audit undertakes both regular and ad-hoc reviews of risk management
controls and procedures, the results of which are reported to the Audit Committee.

The Risk Management Organogram of the Bank is as follows:

The Risk Committees at the board and management levels are responsible for reviewing and
recommending risk management policies, procedures and profiles including risk philosophy, risk appetite
and risk tolerance of the Bank. The oversight functions cut across all risk areas. The committee monitors
the Bank’s plans and progress towards meeting regulatory Risk-Based Supervision requirements and
migration to Basel II compliance as well as the overall Regulatory and Economic Capital Adequacy. The
Bank’s Board of Directors has delegated responsibility for the management of credit risk to the Board
Credit Committee. The Board Credit Committee considers and approves all lending exposures, including
treasury investment exposures, as well as insider-related credits in excess of limits assigned to the
Management Credit Committee by the Board. Management Credit Committee formulates credit policies in
consultation with business units, covering credit assessment, risk grading and reporting, collateral,
regulatory and statutory requirements. The committee also assesses and approves all credit exposures in
excess of the Managing Director’s limit as approved by the Board.

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Guaranty Trust Bank (Gambia) Limited Financial Statements December 2021