SET Annual Report 2014

Annual Report 2014

• Committee assignments

• Authorities, duties and responsibilities

of the BoG Chairman

In 2014, the BoG appointed members for a total of

ten committees in various duties and responsibilities,

examined issues that require specialization covering

the Audit Committee, Nomination and Remuneration

Committee, Corporate Governance and Social Responsibility

Committee, and Risk Management Committee. All SET

committees were independent in carrying out their

duties as assigned by the BoG. The list of committees

and their duties is shown 101.

1. Convene the BoG meetings.

2. Chair the BoG meetings. In case of a tie, the

chairman will have a casting vote.

Roles and responsibilities of

the Board

• Set SET’s strategic policies and direction.

Monitor the management’s operations to

ensure effective implementation in compliance

with rules and regulations

• Approve the strategic plan, budget and

manpower plan

• Appoint the SET president and top executives

• Ensure effective and reliable accounting,

financial reporting, internal control, internal

audit, CG and risk management systems

• Assign and delegate authority to the

management appropriately to efficient operation,

with decent internal control

• The SET president holds the highest executive

position responsible for managing SET’s business

in compliance with the policies, strategic goals,

rules and regulations, as well as the Board’s

decisions

• Report the progress of SET operations according to

SET’s strategic plan, as well as SET’s performance

to the Board quarterly

• For external affairs, the SET president, as

SET’s representative, may delegate certain

individual to act on his / her behalf, by

following the rules and regulations set by the

BoG

Roles and responsibilities of

the president

The SET BoG has approved the guidelines to

facilitate flexible and effective operations, under

effective internal control and reporting system. The BoG

has approved the procedures for delegation of authority

at various levels, with clear approval framework and

process. Some key areas are:

• For fixed assets and operating expenditures

within the budget approved by the Board.

Expenditure over THB 2 million must be

submitted to the BoG for approval.

• For purchase or procurements of products or

services over THB 10 million must be submitted

to the BoG for approval. The purchase or

procurements over THB 5 million must be reported

to the BoG quarterly.

3. Open up opportunities and encourage all governors

to take part in the BoG work and activities.

4. Support the Board’s self-assessment and evaluation

processes continuously

5. Co-ordinate with and provide support to the

SET president to enhance effectiveness and

efficiency