ICICI Bank 2015 Annual Report Download - page 43

41Annual Report 2014-2015
also to review the efficacy of the remedial action taken to prevent recurrence of frauds, such as strengthening of
internal controls and put in place other measures as may be considered relevant to strengthen preventive measures
against frauds.
Composition
At March 31, 2015, the Fraud Monitoring Committee comprised seven Directors including five independent Directors
and the Managing Director & CEO and was chaired by V. Sridar, an independent Director. There were four Meetings of
the Committee during the year. The details of the composition of the Committee and attendance at its Meetings are set
out in the following table:
Name of Member Number of meetings attended
V. Sridar, Chairman 4/4
Dileep Choksi 4/4
K. V. Kamath 4/4
Homi Khusrokhan 2/4
V. K. Sharma (w.e.f. June 7, 2014) 4/4
Chanda Kochhar 4/4
Rajiv Sabharwal 3/4
VIII. Information Technology Strategy Committee
Terms of Reference
The functions of the Committee are to approve strategy for Information Technology (IT) and policy documents, ensure that
IT strategy is aligned with business strategy, review IT risks, ensure proper balance of IT investments for sustaining the
Bank’s growth, oversee the aggregate funding of IT at Bank-level, ascertain if the management has resources to ensure the
proper management of IT risks and review contribution of IT to businesses.
Composition
At March 31, 2015, the IT Strategy Committee comprised four Directors including three independent Directors and the
Managing Director & CEO and was chaired by Homi Khusrokhan, an independent Director. There were four Meetings of
the Committee held during the year. The details of the composition of the Committee and attendance at its Meetings is
set out in the following table:
Name of Member Number of meetings attended
Homi Khusrokhan, Chairman 4/4
K. V. Kamath 4/4
V. Sridar 4/4
Chanda Kochhar 4/4
IX. Risk Committee
Terms of Reference
The functions of the Committee are to review ICICI Bank’s risk management policies pertaining to credit, market,
liquidity, operational, outsourcing, reputation risks, business continuity and disaster recovery plan. The functions of
the Committee also include review of the Enterprise Risk Management framework of the Bank, risk appetite, stress
testing framework, Internal Capital Adequacy Assessment Process (ICAAP) and framework for capital allocation;
review of the status of Basel II and Basel III implementation, risk return profile of the Bank, outsourcing activities,
compliance with RBI guidelines pertaining to credit, market and operational risk management systems and the activities
of Asset Liability Management Committee. The Committee also reviews the risk profile template and key risk indicators
pertaining to various risks. In addition, the Committee has oversight on risks of subsidiaries covered under the Group
Risk Management Framework.