Board Member Vacancy: Independent Non-Executive Director at CRDB Bank Plc

CRDB Bank Plc

  • Tanzania
  • Permanent
  • Full-time
  • 1 month ago
CRDB Bank Plc is a leading commercial bank in Tanzania. Established in 1996, the bank has grown and prospered over the years to become the most innovative and trusted Mobile Bank in the country. The Bank attained an important milestone when it was listed on the Dar Es Salaam Stock Exchange on 17th June 2009. CRDB Bank Burundi Plc owns four subsidiary companies - CRDB Insurance Company Limited, CRDB Bank DR Congo S.A., CRDB Bank Foundation and operates a representative office in United Arabs Emirates (UAE-Dubai).The Board of Directors invites applications from suitably qualified Non-Executive candidates to fill one (1) position of Independent Director.Definition of “Independent Director”“Independent Director” means a director who- (a) does not hold any executive or management position in the bank; (b) does not have, directly or indirectly, any parent or a significant interest in the bank or any subsidiary including any in a consolidated group with the bank; “Significant interest” means a holding of five percent or more of the voting shares of the bank; (c) has not been employed by the bank or any of its subsidiaries of which he currently forms part in any executive capacity for the preceding three (3) years; (d) is not a member of the family of an individual who is, or has been in any of the past three years, employed by the bank or any of its subsidiaries in an executive capacity; (e) is not a professional advisor to the bank or its subsidiaries; (f) is free from any business or other relationship which seems to interfere with the individual's capacity to act in an independent manner; and (g) does not receive remuneration contingent upon the performance of the bank as defined in the Banking and Financial Institutions 2014; (Internal Control and Internal Audit Regulations 2014).The name of qualified candidate will be submitted to the Annual General Meeting for appointment. Please refer to CRDB Bank Plc Memorandum and Articles of Association (MEMARTS) for more information.Expertise and Knowledge RequirementsIn line with Section 5(2) of the Banking and Financial Institutions Act (Corporate Governance) Regulations, 2021 candidates for the Board of Directors positions should have the expertise and knowledge in the following academia; or Banking; or Finance; or Accounting; or Auditing; or Law; or Economics.Skills RequirementsConsidering the current market practice, technological development and growth in digital banking, the following skills are desired for the Board of Directors Positions:
  • Mergers and acquisition; or IT systems, data science, cyber security, trade and project finance, engineering and Human capital management.
Roles of Board of Directors
  • Determine the Bank's vision, mission and values aimed at providing continuity and legal existence of the Bank.
  • Continuously monitor and evaluate the Bank's strategy to achieve the vision and mission and ensure the Bank survives and thrives.
  • Govern the Bank by broad policies and objectives, formulated and agreed with Managing Director. Such policies and objectives shall aim at ensuring that: 3.1 Procedures and practices are in place to protect the Bank's Assets and reputation. 3.2 The Bank complies with all relevant laws, regulations and codes of best practices; and 3.3 The technology and systems used in the Bank are adequate to properly run the Bank for it to compete through efficient use of its assets, processes and human resources.
  • Monitor risk identification and its management to enhance shareholder value in the long run.
  • Select and appoint the Managing Director to whom the responsibility of managing the Bank shall be delegated. The Directors shall review and evaluate the Managing Director's performance regularly.
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