Page 80 - RFHL ANNUAL REPORT 2025 ONLINE_NEW

78 • Republic Financial Holdings Limited 2025 Annual Report • SUSTAINABILITY

Corporate Governance Practices

dedication to extract significant value in the long-term for the In performing its duties, the Audit Committee maintains
benefit of all its stakeholders. The Board’s focus has been to effective working relationships with the Board of Directors,
maintain the growth, strength, and success of the organisation Executive Management, the Chief Internal Auditor, the Central
with its Declaration of Purpose always guiding at the fore – We Bank of Trinidad and Tobago and the External Auditors.
Value People, We Serve with Heart; We are deeply Committed
to Your Success. We Care. This Committee meets quarterly at a minimum and five (5)
meetings were held this fiscal, for which the attendance of
Committee members is detailed below. The Committee
Focus Areas for the Year Ahead comprises a majority of Independent Directors and is chaired
During the fiscal year 2024-2025, the Board of Republic by an independent Director who is a financial expert as
Financial Holdings Limited remained focused and committed defined in applicable law and regulation:-
to its strategic goals. Efforts were targeted at keeping apace
with evolving digital technologies, whilst also balancing and Directors Attendance
effectively managing the risks associated with cybersecurity.
The projected work of the Board will continue to prioritise Colin A. Soo Ping Chow, Chairman 5
the progressive needs of its customers while insulating the Dawn V. Callender 5
organisation from emergent threats and risks. Shameer R. Mohammed 3
Michael A. Noel 5
Enriching Our Stakeholder Relationships In discharging its mandate and oversight responsibilities, the
Arising naturally from its Declaration of Purpose, Republic Audit Committee receives financial reports, internal audit
Financial Holdings Limited continues to place the highest reports, external auditor reports and statistics related to
value on its stakeholder relationships. The Group has promoted whistle-blower reports. These reports are thoroughly reviewed
the safety and interests of these groups as its top priority, and by the Committee with follow up action where appropriate.
has been actively soliciting feedback and communication
via formal and informal channels throughout the Group
on its stakeholders’ evolving needs and concerns, to which Enterprise Risk Committee
the Board has been receptive and responsive. The Board of This Committee is responsible for providing oversight and
Republic Financial Holdings Limited understands the role it advice to the Board on risk management in relation to all
plays to a diverse set of stakeholders who are impacted by its material, current and potential risk exposures of the Group
operations from varying perspectives, and acknowledges the and future risk strategies, including recommendations for the
invaluable insights gained via its stakeholder engagements. current and future risk appetites of Republic Financial Holdings
Limited and its subsidiaries and affiliates. The Enterprise
Risk Committee has delegated authority from the Board
Audit Committee of Directors to oversee the risk management function that
The Audit Committee is a committee of the Board of Republic proactively detects, assesses, and manages all relevant risks.
Financial Holdings Limited whose purpose is to provide This subcommittee considers and recommends for approval,
oversight and ensure the monitoring and strengthening by the Board, the Group’s enterprise risk management policy,
of the control environment. The Audit Committee risk appetite statement, tolerance, limits, and mandates
continuously assesses RFHL’s compliance with policies, considering the Group’s capital adequacy and the external
laws, regulations, and guidelines in order to ensure superior risk environment. It has oversight of strategic or material
corporate governance practices are institutionalised. The transactions including acquisitions and disposals, focusing
Audit Committee extends oversight to financial reporting, on risk and implications for the risk appetite and tolerance
systems of internal control, regulatory filings, risk oversight, of the Group. Five (5) meetings were held this fiscal, and the
the independent auditor, ethics and compliance, internal attendance of Committee members is detailed below.
audit and external communications and reviews, and makes
appropriate decisions and/or recommendations concerning
the performance of these areas.