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The Remuneration Committee of Myanma Tourism Bank (MTB) plays a pivotal role in ensuring the bank’s compensation practices are fair, competitive, and aligned with the bank’s strategic goals. The committee operates under the authority delegated by the Board of Directors, focusing on establishing a framework that attracts, retains, and motivates talent while promoting the long-term interests of the bank and its stakeholders.
Responsibilities
The primary responsibilities of the Remuneration Committee include:
Establishing and periodically reviewing the bank’s remuneration policies for the Board, senior management, and key personnel.
Ensuring compliance with regulatory requirements and industry best practices.
Setting Performance-Based Compensation
Reviewing and approving performance-based incentives for executives and staff.
Ensuring rewards are linked to measurable performance metrics that align with the bank’s objectives.
Board and Executive Remuneration
Recommending remuneration packages for Board members, including non-executive directors.
Evaluating and approving the compensation structure for senior executives.
Monitoring Market Trends
Conducting regular market benchmarking to ensure the bank remains competitive in attracting and retaining talent.
Risk and Compliance Alignment
Ensuring that remuneration policies do not encourage excessive risk-taking and are consistent with sound risk management practices.
The Remuneration Committee is comprised of members from the Board of Directors, including independent non-executive directors. The committee is chaired by an independent director to ensure impartiality and transparency in decision-making.
The committee meets at least quarterly and as required.
Recommendations and decisions are reported to the Board of Directors for approval and implementation.
The Remuneration Committee of MTB is dedicated to upholding principles of fairness, equity, and transparency. By aligning remuneration practices with the bank’s vision and values, the committee ensures that Myanma Tourism Bank remains a leading employer in the financial sector while delivering sustained value to its stakeholders.
