The Bank's Organisational Structure
The bank’s organisational structure defines how the explicit and implicit activities such as decision making, task allocation, coordination and supervision are directed toward the achievement of the corporate goals and objectives. Mumuadu Rural Bank PLC operates Line and Staff Organisational structure system.
The Board
The Board comprises seven members. One of whom is elected by the Board members as the Chairman.
All the seven are non-executive directors. While the Board has overall responsibility for governance, corporate plan and strategies, policies of the Bank and also monitors the Bank's administration and performance, much of the day-to-day activities are delegated to the Chief Executive Officer (CEO) and senior management.
Management and Structure
Significant changes were made to the organizational structure during the past four years and others would be made in the next plan period to better achieve the goals and responsibilities of the Bank and provide a sharper focus to the key objectives, strategic planning and budgeting. Details are summarized in the structure.
The Management
There are eight (8) Departments. These Departments are Operations, Credits, Human Resources, Finance, Sales and Marketing, Internal Audit, Information Technology Services (IT), and Risk , Compliance & AML.
All eight (8) Departments except the Internal Audits and Compliance - Risk, report directly to the Chief Executive Officer (C.E.O). The Compliance – Risk – AML - CFT report both to the Board and Chief Executive Officer (C.E.O) and in some cases direct to the Financial Intelligence Centre (FIC) whilst The Internal Auditor reports directly to the Board through Board sub-committee and administratively to the Chief Executive Officer (C.E.O)
The Branch Managers
The Bank shall continue to review management and staffing policies to reward staff appropriately and improve the development of individuals' skills and knowledge. Clear lines of responsibility, delegation of authority is encouraged so that management and staff can do their jobs effectively and assume appropriate responsibility. Further work will be done within the plan period to further develop the Bank's approach to staff appraisals and other human resource management issues.
