Impact of independent directors on functioning of bank board committees

Problems of participation of independent directors in work of committees of the boards of directors (supervisory boards) are considered in relation to the banking sector of the Russian economy. The international experience of participation of independent directors in committees of the boards of directors (supervisory boards) of banks is generalized. Industry recommendations, exchange requirements and criteria of participation of independent directors in functioning of committees of the boards of directors (supervisory boards) are analyzed. In many countries in the banks entering the world ranking of TOP 100 of the largest banks, committees of the boards of directors include independent directors: committees on audit on average 67%, committees on remunerations 58%. National exchange regulation establishes two-level requirements to members of committees of the board of directors with a key role of independent directors. The considered national experience of application testifies to the appropriate procedure of participation of independent directors in the boards of directors.