i'mpact Singapore Tourism Board Annual Report 2010/2011
i'mpact Singapore Tourism Board Annual Report 2010/2011
i'mpact Singapore Tourism Board Annual Report 2010/2011
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Corporate Governance<br />
It approves the STB’s investment policy and strategies, ensures that financial investments are conducted in compliance with<br />
statutory legislation and government directives and furnishes an investment report to the <strong>Board</strong> on a semi-annual basis.<br />
It performs the risk advisory role for projects above S$5 million or with high reputational risks through provision of input and opinion<br />
on the risk assessment and risk response measures put forth by the STB, and elevates any critical project risks to the attention of<br />
the <strong>Board</strong>.<br />
Governance Committee<br />
Over the period 1 January <strong>2010</strong> to 29 February <strong>2011</strong>, the Governance Committee comprised Chairman STB, Chief Executive STB<br />
and a senior management representative at the Assistant Chief Executive level.<br />
While there were no physical meetings held, approval of new appointments and renewal of Directors were sought via email.<br />
With effect from 1 March <strong>2011</strong>, the composition of the Governance Committee was revised to comprise three independent<br />
Directors, including the Chairman of the <strong>Board</strong>.<br />
Human Resource Management Committee<br />
The Human Resource Management Committee comprises Chairman STB and two other <strong>Board</strong> Members. The Human Resource<br />
Management Committee’s responsibilities include providing guidance on leadership development and talent management matters;<br />
reviewing compensation policies and structures to ensure competitiveness; approving salary grade changes of officers to Superscale<br />
Grades, and reviewing and approving recommendations on disciplinary matters pertaining to senior management members.<br />
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