14.1 The board shall be responsible for appointing a CEO and senior management with appropriate integrity and adequate knowledge, experience, skill and competence for their roles.

14.2 The board shall be responsible for endorsing the appointment of people who may have a material impact on the risk profile of the credit institution and monitoring on an on-going basis their appropriateness for the role.

14.3 The board shall be responsible for either the appointment of non-executive directors or where appropriate identifying and proposing the appointment of non-executive directors to shareholders.

14.4 The board shall ensure that new non-executive directors are provided with adequate induction training about the operations and performance of the credit institution. The board shall ensure that adequate on-going training is provided to board members, which is routinely updated as necessary to ensure that they make informed decisions.

14.5 The board shall define and document the responsibilities of the board of directors, board committees and senior management to ensure that no single person has unfettered control of the business.

14.6 The board shall formally review its overall performance and that of individual directors, relative to the board's objectives, at least annually. The review shall be documented.