Bank of Montreal 2008 Annual Report Download - page 22

Download and view the complete annual report

Please find page 22 of the 2008 Bank of Montreal annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 162

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162

18 | BMO Financial Group 191st Annual Report 2008
CORPORATE GOVERNANCE
Board
of
Directors
Management
Governance
and
Nominating
Committee
Human
Resources and
Management
Compensation
Committee
Risk Review
Committee
Audit
Committee
Shareholders’
Auditors
Shareholders
Appoint
Appoint
Elect
Elect
Appoint
BMO’s corporate governance structure: Anti-Money Laundering
BMO’s Anti-Money Laundering and Anti-Terrorist Financing Policy
helps safeguard the integrity of the international banking system.
BMO will not knowingly do business with individuals, entities or
governments attempting to turn “dirty” money into “clean” money.
Nor will we knowingly conduct any type of business transaction
relating to property owned or controlled by, or on behalf of, a
terror ist group. In 2008, the Canadian government revised its anti-
money laundering and anti-terrorist financing regulations in order
to bring Canada’s regulatory regime into line with new inter -
national standards. In the United States, regulatory authorities have
stepped up their oversight of anti-money laundering and anti-
terrorist financing provisions. We are assigning resources to meet
the increased expectations of regulators, particularly in Canada
and the United States, with respect to anti-money laundering and
anti-terrorist financing.
Board Committees
COMMITTEE MEMBERS RESPONSIBILITIES
Audit Committee Philip S. Orsino (Chair) Jeremy H. Reitman
Robert Chevrier Guylaine Saucier
Ronald H. Farmer
David A. Galloway (ex officio)
Eva Lee Kwok
Oversees the integrity of our financial reporting, internal controls, disclosure
controls and internal audit function. Also oversees our compliance with legal and
regulatory requirements and auditor independence requirements. Monitors
transactions involving related parties, conflicts of interest, the use and disclosure
of confidential and personal information, and standards of business conduct.
Governance and
Nominating Committee
J. Robert S. Prichard (Chair) David A. Galloway
Robert M. Astley Bruce H. Mitchell
Stephen E. Bachand Philip S. Orsino
Develops, reviews and assesses corporate governance principles and systems on
an ongoing basis. Responsible for director succession, orientation and compensation.
Human Resources and
Management Compensation
Committee
Robert M. Astley (Chair) David A. Galloway
Stephen E. Bachand Martha C. Piper
David R. Beatty J. Robert S. Prichard
Ronald H. Farmer
Assists the Board in its oversight of human resources strategies, executive
compensation, senior executive performance assessments and management
succession.
Risk Review Committee Bruce H. Mitchell (Chair) Guylaine Saucier
Robert M. Astley Nancy C. Southern
David R. Beatty Don M. Wilson III
George A. Cope
David A. Galloway (ex officio)
Harold N. Kvisle
Philip S. Orsino (ex officio)
Oversees the identification, documentation, measurement and management of
significant risks. Monitors compliance with risk-related regulatory requirements
and with internal risk management policies and procedures.
For the sixth consecutive
year, BMO Financial Group
was recognized for its
leadership in corporate social
responsibility, ranked by
Corporate Knights as one of
the Best 50 Corporate Citizens.
CORPORATE KNIGHTS • 2008