BOARD OF DIRECTORS The CHICC Board of Directors is committed to leadership in corporate governance. The Board has developed CHICC's corporate governance policies and practices to ensure the company operates in a prudent and responsible manner with the best interest of our stakeholders in mind. The subcommittees of the Board include an audit committee comprised of non-management directors, and a risk management committee.
AUDIT COMMITTEE The audit committee operates with a mandate to oversee internal controls of the organization and to ensure CHICC reports reliable, accurate and clear financial information to its stakeholders. The audit committee is responsible for the selection and oversight of CHICC’s auditors. The auditor reports directly to the committee, independent of management. The committee is also responsible for reviewing and approving related party transactions. The committee oversees the establishment and maintenance of processes to ensure CHICC is in compliance with laws and regulations that apply as well as its own internal policies.
RISK MANAGEMENT COMMITTEE The risk management committee approves CHICC's lending program guidelines and monitors the related metrics and risks including liquidity and capital management. The committee reviews CHICC's actual risk profile against risk appetite metrics and ensures that policies are in place to manage the risks to which CHICC is exposed, including market, operational, liquidity, credit, insurance, regulatory and legal, and reputational risk. The committee provides a forum for the analysis of an enterprise view of risk, including a current review of trends and emerging risks.