INFORMATION AND COMMUNICATION
TECHNOLOGY COMMITTEE REPORT
Committee Composition during 2023
The following Directors were members of
the Committee during the year 2023:
1
Prof. Kithsiri M Liyanage
Chairman/Independent Non-
Executive Director
2
Mr R M Priyantha Rathnayake
Member/Non-Independent Non-
Executive Ex-officio Director
3
Major General (Rtd)
G A Chandrasiri VSV*
Member/Independent Non-Executive
Director
4
Mr Naresh Abeyesekera
Member/Independent Non-Executive
Director
Note
* Ceased to be a Director w.e.f.
07.01.2024 with the ending of his term
as a Director.
Currently the Committee comprises of the
following members:
1
Prof. Kithsiri M Liyanage
Chairman/Independent Non-
Executive Director
2
Mr R M Priyantha Rathnayake
Member/Non-Independent Non-
Executive Ex-officio Director
3
Mr Naresh Abeyesekera
Member/Independent Non-Executive
Director (Appointed w.e.f 09.05.2023)
Secretary to the Committee
The Secretary, Bank of Ceylon/Secretary
to the Board, Janaki S Siriwardane who is
an Attorney-at-Law and a Senior Deputy
General Manager, functions as the
Secretary to the Committee.
Regular participants
•
General Manager
•
Head of IT/Chief Information Officer
•
Deputy General Manager (Product and
Banking Development)
•
Chief Risk Officer
•
Deputy General Manager (Support
Services)
•
Chief Information Security Officer
Attend upon invitation
•
Assistant General Managers attached
to IT Division
•
Assistant General Manager (Product
Development and Business Process
Re-Engineering Project)
Any other members of the Board, the
Corporate Management and Staff
Member as decided by the Committee
10 Meetings were held within 2023
(Attendance given on page 116 of this
Report)
Quorum:
members
ROLE OF COMMITTEE
Information and Communication
Technology (ICT) Committee Charter
The Terms of Reference of the ICT
Committee are governed by the ICT
Committee Charter, approved and
adopted by the Board.
PRINCIPAL FOCUS
The primary purpose of this Committee
is to assist the Board of the Bank in
fulfilling their oversight responsibilities
with regard to the existence, operation
and effectiveness of the IT products
and services, policies, practices and IT
infrastructure employed by the Bank to
manage various types of IT products
and services including major technology
investments. It ensures that the Bank has
a robust IT infrastructure and capabilities
in place at all times, follows best practice
and maintains alignment with Bank’s
Corporate Plan by analysing emerging
trends in technology.
MEDIUM OF REPORTING
The proceedings of the ICT Committee
meetings are tabled and ratified at the
Board meetings and Board approval
obtained thereof.
AREAS OF FOCUS AND
ACTIVITIES IN 2023
Monitoring Development
•
Monitored the ongoing IT developments/
IT infrastructure enhancements in the
Bank including that of overseas branches
in Maldives, Chennai and Seychelles and
guided on the proposed developments/
improvements.
•
Monitored the operations of the existing
critical applications of the Bank and
provided necessary guidance to rectify
and resolve existing issues.
•
Monitored the progress of the proposed
digital banking solution (Internet and
Mobile banking system (B-APP)) for the
Bank.
•
Monitored the progress of the
procurement of AML/CFT system.
•
Monitored and took measures to reduce
the ATM/CDM down time.
•
Discussed the Bank’s digital initiatives
embedded in the Strategic Plan.
•
Reviewed the proposed bio metric-based
payment solution.
IT GOVERNANCE
•
Reviewed the IT Road Map and ensured
that it is linked to strategy.
•
Monitored the implementation of
the newly-introduced IT Governance
framework and expedited the process.
•
Monitored rectification action for internet
and mobile banking interruptions that
took place in year 2023.
•
Reviewed and streamlined IT
procurement process and renewals of
maintenance contracts.
