The Board of Directors of Brickell Bank recognizes the importance of, and is committed to, high standards of corporate governance. Setting business strategy, continuously improving governance & risk management routines, and setting standards of principled behavior are critical to the long-term sustainability of the Bank. Our proactive governance culture ensures that the Board is able to effectively supervise management’s ongoing operation of the Bank while maintaining a trusting engagement between the Bank and its stakeholders. Our governance framework encompasses several key features:
- We continuously monitor proposed new regulatory and legal requirements and amend our robust set of policies and practices to reflect those requirements
- The bank has established a risk management model that serves to ensure risks are properly understood, identified, and appropriately managed on an ongoing basis. Risk management responsibility ultimately resides with the Board of Directors, and further with Board-appointed committees that monitor risks within their particular areas of responsibility.
- The Board has adopted a Code of Conduct relating to the lawful and ethical conduct expected of its stewards, and this Code has been communicated to all directors and employees. It is expected that all Board and Bank staff adhere to these standards of integrity, respect, and fair dealing in relation to customers, staff and regulators in the community in which the Bank operates.
As the Bank evolves its governance capabilities, it is guided by several key operating principles that contribute to the effective oversight & advancement of good governance and risk management in the organization:
- A culture of joint accountability for risk management, which crosses business, functional, and compliance groups
- A discipline to avoid activities that are inconsistent with the bank’s core values
- A focus on clients to ensure that services provided are suitable and appropriate
- A continuous balancing of risk vs return in all business endeavors