Corporate Governance

Board of Directors

Non-executive directors:
Prof. CHAN Ka Keung Ceajer (Chairman)
Mr. LOONG Pui Chi Simon
Mr. LEUNG Chun Man Ernest

Executive director:
Mr. LEE Ka Tat

Independent non-executive directors:
Mr. Donald Jeffrey ROBERTS
Ms. CHANG Suk Ling Irene

Board Committees

The four specialized committees under the Board of Directors (the “Board”) of Welab Bank Limited (“WeLab Bank”), namely Audit Committee, Risk Committee, Nomination Committee and Remuneration Committee, are all chaired by an independent non-executive director and comprised of a majority of independent non-executive directors.

Audit Committee

The Audit Committee assists the Board in ensuring the adequacy of the internal control systems and reinforcing the work of internal audit function and external auditors and in fulfilling its duties through a review and supervision of WeLab Bank’s financial reporting. The Audit Committee oversees the establishment of WeLab Bank’s accounting policies and procedures, approves the internal and external audit plans periodically, reviews reports and recommendations provided by the internal and external audit function, and reports significant findings, if any to the Board in relation to any deficiencies in WeLab Bank’s internal control system.

Chairman: Mr. Donald Jeffrey ROBERTS*
Members: Ms. CHANG Suk Ling Irene*
Mr. LEUNG Chun Man Ernest

Risk Committee

The Risk Committee ensures an appropriate risk management framework, overseeing and monitoring the various risks affecting WeLab Bank including technology risk. The Risk Committee reviews and supports the implementation of the risk management strategies, risk appetites and key risk policies based on the guidelines and directives of the Hong Kong Monetary Authority. The Risk Committee interacts regularly with and oversees the Chief Risk Officer and also receives regular risk reports from the Chief Risk Officer and the risk management function of WeLab Bank.

Chairman: Ms. CHANG Suk Ling Irene*
Members: Mr. Donald Jeffrey ROBERTS*
Prof. CHAN Ka Keung Ceajer
Mr. LEUNG Chun Man Ernest

Nomination Committee

The Nomination Committee leads the process for appointments to the Board and for identifying and nominating for the approval of the Board, candidates for appointment to the Board. The Nomination Committee is also responsible for identifying individuals suitably qualified to become members of senior management and selecting, or making recommendations to the Board on the selection of, individuals nominated for senior management positions (based on the role and its responsibilities and the knowledge, experience and competence which the role requires).

Chairman: Ms. CHANG Suk Ling Irene*
Members: Mr. Donald Jeffrey ROBERTS*
Prof. CHAN Ka Keung Ceajer
Mr. LOONG Pui Chi Simon

Remuneration Committee

The Remuneration Committee formulates remuneration policy and remuneration proposals of all staff, in particular, Directors, Chief Executive, Alternative Chief Executives and senior management of WeLab Bank and overseeing its implementation. The Remuneration Committee in determining the remuneration proposals shall ensure consistency with WeLab Bank’s culture, long-term business and risk appetite, performance and control environment and relevant legal requirements and rules and guidance published by regulatory authorities.

Chairman: Ms. CHANG Suk Ling Irene*
Members: Mr. Donald Jeffrey ROBERTS*
Mr. LEUNG Chun Man Ernest

* independent non-executive director