Monday, March 25, 2013

UOB Board Meeting and Board Retreat...

Board Members after the March 15th Board Meeting
UOB board meeting takes place four times a year. It is a quarterly event. The first board meeting for 2013 was held on March 14th and 15th.

On the first day, the board committees meet to review all key activities. There are H.R./Transformation Committee, Credit Policy Committee, Asset Liability Committee, Risk Management Committee and Audit Committee. Usually it is a full day schedule.

On the second day, each committee chair reports the summary of the committee meetings to the full board and after the CEO's own report the board resolves on the action items. After the regular board meeting, all other executive officers are asked to stay out of the meeting and the board with the CEO enters into an executive session. This session deals with issues that are too sensitive to discuss with other management present.

At the first meeting of the year, we also hold the Annual General Meeting (AGM). At this meeting, shareholders elect new directors to represent their interests, review and approve the audited financial statements, and appoint the external auditor. This year, the shareholders appointed two new directors, including the first female director (Christine Baingana) and Andre Lalumiere (OBUL CEO), approved the 2012 audited financial statements with an unqualified opinion, and appointed Price Waterhouse Coopers (PWC) as the new external auditor for the next three years.

After the board meeting, the board also held a retreat in the afternoon of March 15th and in the morning of March 16th, Saturday. The purpose was to review if UOB has been living up to its mission, vision and values for the past two years and to provide guidance on where to pay attention for the bank's transformation programs. Gil, Vice President of Integral Mission at World Relief US came to facilitate the retreat. It was somewhat grueling but all participants were serious and passionate about the subject. It was a blessing and uplifting time.

I have belonged to several boards and experienced even more boards, but UOB board members are people of God who love and love to serve God with the talents and time that God has bestowed upon them. I thoroughly enjoy working with them.

 May God continue making His face shine upon UOB, UOB staff and UOB clients! - Jeffrey

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