Performance Assessment of the Board, Board Committees and Senior Management

The Board of Directors conduct an annual performance assessment of the Board members and key officers.  The Board members conduct a self assessment of their individual and collective performance, and also evaluate the performance of the CEO, the Internal Audit Head, Chief Risk and Reputation Officer,  and the Compliance Officer.

The directors and key officers are valuated based on the following criteria: compliance with best governance practices and principles, participation and contribution to the Board and committee meetings, and assessment of performance against their duties and responsibilities as provided for in the Company’s Manual, Articles and By-Laws.  Assessment results for the past three years are compared, and these are presented to the Board Corporate Governance Committee and to all Board members.