Monetary Authority of Singapore Annual Report 2011/2012
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Bank Directors’ Programme

The board of directors of a financial institution plays a central role in maintaining adequate risk oversight of the institution’s business activities. They are responsible for implementing processes and controls to manage the institution’s risks, for ensuring its compliance with regulatory requirements. In our efforts to reinforce the responsibilities of bank boards, the MAS Academy in consultation with the Nominating committees of the local banks, organised a Bank Directors’ Programme for directors of local banks. The series of seminars covered topics such as lessons from the financial crisis, effectiveness of boards, supervisory expectations of boards and risk management. Speakers included a number of former heads of supervision from developed jurisdictions.