Covid 19, Risk
Omodele Jones
Part 6 - Mitigation - The Gambian View from ...

This is Part 6 of a 9 part series of 4 min interviews with Corporate Leaders on the COVID 19 experience of Corporate Africa. Part 6 interviews Lamin Manjang, the Group CEO for West Africa operations of Standard Chartered Bank. His previous assignments with the Bank recently included a stint as Group CEO of the Bank's East Africa operations.

In Part 6, Lamin responds to the second of three questions:

"How well did Corporate Africa mitigate the risks of the COVID 19 pandemic? What lessons have been learnt?".

Part 6 - Mitigation - The Gambian View from Nigeria: COVID 19 & Corporate Africa
Covid 19, Risk
Omodele Jones
Part 5 - Mitigation - The View from Eastern ...

This is Part 5 of a 9 part series of 4 min interviews with Corporate Leaders on the COVID 19 experience of Corporate Africa. Part 5 sees the return for a second question of Stanley Tsikirayi, a highly experienced governance practitioner who serves on Boards in Eastern & Southern Africa.

Part 5 - Mitigation - The View from Eastern & Southern Africa: COVID 19 & Corporate Africa
Covid 19, Risk, Corporate Governance
Omodele Jones
Part 4 - The West African View from Ghana: ...

This is Part 4 of a 9 part series of 4 min interviews with Corporate Leaders on the COVID 19 experience of Corporate Africa. Part 4 interviews Sadia Chinery-Hesse, Group Head, Legal & Company Secretary, Enterprise Group West Africa. Enterprise are an insurance company headquartered in Ghana, with operations in Nigeria and The Gambia.

Part 4 - The West African View from Ghana: COVID 19: The Experience of Corporate Africa
Risk, Covid 19, Corporate Governance
Omodele Jones
Part 3 - The Pan-African View from Nigeria: ...

This is Part 3 of a 9 part series of 4 min interviews with Corporate Leaders on the COVID 19 experience of Corporate Africa. Part 3 interviews Mr Lamin Manjang, the Group CEO for West Africa operations of Standard Chartered Bank. His previous assignments with the bank recently included a stint as Group CEO of the bank's East Africa operations. In Part 3, Lamin responds to the first of three questions: "In the African context, how foreseeable was a pandemic?".

Part 3 - The Pan-African View from Nigeria: COVID 19: The Experience of Corporate Africa
Omodele Jones
Part 2 - COVID 19: The Experience of Corporate ...

Part 2 of a 9 part series of interviews with corporate leaders on the experience of Corporate Africa with COVID 19

Part 2 - COVID 19: The Experience of Corporate Africa

audit committee

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Audit Committee good practices during covid19

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Reflections on observed boards of directors Audit Committee good practices during covid 19.

Worthwhile video from Center for Audit Quality. Key takeaways: -need for regular stress testing via modelling and scenario analyses to ensure adequate liquidity, hardnosed capex management, pruning of variable and discretionary costs.

-timely reviews of any fundamental shifts in market prospects and their implications.

-awareness of elevated value-chain exposure to cybersecurity risks and deployment of countermeasures backed by proactive communications.

-need for elevated and sustained committee communications with auditors

-assessment of effect of remote meetings on quality of committee oversight.

-assuring effective review and response to rapidly evolving enterprise risks.

-elevated and sustained communications with internal and external stakeholders and not just shareholders.

-remaining vigilant on COVID threat: it ain't over till it's over!

-staying true to longer term objectives and preparing for life after the crisis.

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Non-Financial Risks & the Role of Internal Audit

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Banks sometimes under-estimate the importance of non-financial risks until they emerge as the serious hazards that they represent. Internal audit with adequate distance from management and a productive relationship with the Board may be vital.

"...Internal auditors should have sufficient seniority to be able to challenge senior executives inside the big banks, according to a new practice guide circulated to financial sector regulators last week by the Institute of Internal Auditors Australia.

The institute wants to bolster the power and independence of internal audit teams and improve the quality of risk-related information being reported to bank boards...

...the bank's new chairman, John McFarlane said: ""We need to have more effective management of non-financial risks, as well as a strong risk culture across the organisation in the first, second and third lines of management, as well as strong board oversight."..."