REPORT OF THE BOARD OVERSIGHT COMMITTEE
The Board Oversight Committee is pleased to present this report summarizing its activities, responsibilities, and key observations over the past 12 months. As per the Credit Union Act, 1997 as amended, our mandate is to ensure that the Board of Directors operates with integrity, transparency, and in alignment with the organization’s mission and governance standards. The Oversight Committee is tasked with:
- Monitoring the performance and conduct of the Board of Directors. - Ensuring compliance with legal, regulatory, and ethical standards. - Reviewing board decisions for alignment with strategic objectives. - Evaluating risk management practices and internal controls. - Facilitating board self-assessments and governance reviews.
During the reporting period, the Committee undertook the following key activities:
- Governance Review: Conducted a comprehensive review of board policies and procedures, - Compliance Monitoring: Reviewed board decisions and documentation to ensure adherence to statutory obligations and internal policies. - Risk Oversight : Engaged with the Audit and Risk Committee to assess the organization’s risk profile and mitigation strategies. The Committee notes the following: - The Board has demonstrated a strong commitment to ethical governance and strategic oversight. In Conclusion The Oversight Committee remains committed to supporting the Board in its governance role and ensuring accountability to the members of Altura Credit Union Ltd. We welcome feedback and look forward to continued collaboration in strengthening our organization’s leadership and integrity.
I formally propose this report on behalf of the Board Oversight Committee
Michael Kelly, Mary Quinn And Kathryn Keogh Chair, Board Oversight Committee
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