Definitions and Interpretation

Unless the context otherwise requires, the following terms shall have the meanings assigned to them below. Words importing the singular include the plural and vice versa. References to “days” mean working days unless stated otherwise.

Supersedes and Conflicts

Upon the Effective Date, this Policy supersedes all previous HR policies, manuals, and circulars on the same subject matter issued by the Bank.
Where any inconsistency exists between this Policy and any earlier HR document, the provisions of this Policy shall prevail.
Where interpretation issues arise, Management shall provide guidance consistent with this Policy, and where required, seek Board direction.

Employee Acknowledgement

All staff shall acknowledge receipt and understanding of this Policy.
Acknowledgement may be by signature on an acknowledgement form, HRIS confirmation, or any other method approved by Management.
HR shall maintain acknowledgement records as part of the Bank’s HR files and governance evidence.

Key Terms and Meanings

Term	Meaning
Bank	Suma Rural Bank PLC.
Board	The Board of Directors of the Bank.
CEO	The Chief Executive Officer of the Bank.
Management	The CEO and senior management staff authorised to manage the day-to-day operations of the Bank.
Employee / Staff	Any person employed by the Bank, whether permanent, contract, or temporary, unless otherwise stated.
Working Day	Any day the Bank is officially open for business, excluding weekends and public holidays.
Misconduct	Any act or omission that breaches this Policy, the Code of Conduct, or lawful instructions and procedures of the Bank.
Gross Misconduct	Serious misconduct that justifies severe disciplinary action, including interdiction and/or dismissal, and includes fraud, theft, assault, serious breach of controls, or conduct bringing the Bank into disrepute.
Warning	A formal caution to correct behaviour; may be verbal or written as specified by the Bank’s disciplinary procedure.
Fine	A monetary penalty imposed in accordance with this Policy and processed through approved payroll procedures.
Forfeiture	A loss of salary for a stated period (days/weeks/months) as a disciplinary penalty.
Surcharge	A recovery imposed to reimburse the Bank for a loss, shortage, or cost attributable to a staff member or a unit, subject to investigation and approval.
Suspension	Temporary removal from duty as a disciplinary measure, with conditions as stated in the disciplinary procedure or decision letter.
Interdiction	Temporary removal from duty pending investigation or determination of serious misconduct, under conditions stated in the interdiction letter and the Bank’s disciplinary procedure.
Appendix	A schedule attached to and forming part of this Policy; where conflict exists, the main body of the Policy prevails unless expressly stated.

List of Abbreviations

Abbreviation	Meaning
AML / CFT	Anti-Money Laundering / Countering the Financing of Terrorism
BoG	Bank of Ghana
HR	Human Resources
HOD	Head of Department
ICT	Information and Communication Technology
KYC	Know Your Customer
PPE	Personal Protective Equipment

SECTION 1: INTRODUCTION

1.1 Summary Overview of Suma Rural Bank PLC (SRB)

Suma Rural Bank PLC (SRB) operates in the Bono and Western North Regions of Ghana, with its Head Office at Suma Ahenkro. The Bank operates eight (8) branches and one (1) mobilization centre located at: Suma Ahenkro, Sampa, Goka, Japekrom, Berekum, Brodi, Elluokrom, Camp Junction, and Kokoa (Mobilization Centre).

SRB operates in accordance with applicable laws and relevant regulatory directives governing rural and community banks in Ghana.

1.2 Vision Statement

The vision of SRB is to be the most preferred rural bank, known for excellence in customer service, innovation, and sustainable growth.

1.3 Mission Statement

To reduce poverty in our catchment area by delivering efficient banking services to SMEs and communities through a dedicated, motivated, and accountable workforce, and by creating sustainable value for stakeholders.

1.4 Core Values

Integrity
Care
Teamwork
Customer Excellence
Innovation

These values guide our conduct, service culture, decision-making, and accountability across the Bank.

1.5 Purpose of the Manual

This Manual serves as a reference document for SRB’s Human Resource policies, standards, and procedures. It provides guidance for consistent application of HR practices across the Bank, supports sound employee and management decisions, protects employee rights, and promotes fairness and uniformity.

This Manual is developed within the framework of the labour laws of Ghana, taking into account relevant customs and practices within the financial services industry.

Where any provision of this Manual is inconsistent with applicable Ghanaian law or regulatory requirements, the relevant law or regulatory requirement shall prevail.

1.5.1 CEO Contract and Conflict of Terms (Order of Precedence)

The Chief Executive Officer (CEO) shall be engaged under a separate written CEO Employment/Service Contract approved by the Board.
Where any inconsistency exists between the CEO Contract and this Manual, the CEO Contract shall prevail.
Where the CEO Contract is silent on a matter, the provisions of this Manual may apply where appropriate.
Applicable law and regulatory directives shall prevail where inconsistencies exist.

All exceptions and amendments to this Manual shall be approved by the Board. This Manual shall be read together with the labour laws of Ghana and other applicable statutory rules.

1.6 Structure of the Manual

Section 1: Introduction
Section 2: General Policy on Human Resource Management
Section 3: Policy and Procedure on Recruitment Management
Section 4: Career Progression and Succession Planning
Section 5: Performance Management and Appraisal
Section 6: Compensation Management
Section 7: Training and Development
Section 8: Employee Relations

1.7 Definitions

Term	Meaning
Board	Board of Directors of Suma Rural Bank PLC.
Management	The CEO and Management team responsible for day-to-day operations.
Senior Staff	Employees in supervisory or management grades.
Junior Staff	Employees below supervisory or management grades.
Key Management Personnel	CEO and officers designated as key persons by the Board or regulators.
Control Functions	Internal Audit, Risk Management, Compliance, Finance, ICT Security and other designated risk functions.
Gross Salary	Basic salary plus fixed monthly allowances excluding reimbursements.
Fit and Proper	Suitability assessment covering integrity, competence and financial soundness.

1.8 Regulatory Alignment and Precedence

This Manual shall comply with all applicable laws of Ghana.
The Manual shall align with Bank of Ghana governance expectations and regulatory requirements.
Where conflicts occur, applicable law or regulatory directive shall prevail.
Where this Manual provides better conditions than law, the Bank may apply the more favourable provision.

1.9 Policy Status

This Manual provides general HR guidance.
It does not automatically constitute a contract of employment.
Where an employment contract differs, the hierarchy rules shall apply.

1.10 Delegation of Authority

The Board may delegate HR approval powers to Committees or Management.
Delegations shall be documented and subject to oversight.

1.11 Regulatory Examinations and Cooperation

Employees must cooperate with audits, investigations and regulatory examinations.
Failure to cooperate without reasonable cause may be treated as misconduct.

SECTION 2: GENERAL POLICY ON HUMAN RESOURCE MANAGEMENT

SRB recognizes employees as a critical resource and its most valuable asset. The Bank is committed to maintaining fair, consistent and lawful employment practices.

Objectives of the HR Policy

Attract and retain qualified and ethical personnel
Develop staff through training and career development
Ensure fair and competitive compensation
Build a motivated workforce
Promote effective employee relations
Ensure compliance with laws and regulations

Role of the HR Department

Manage staff relations
Support recruitment and onboarding
Coordinate training and development
Provide HR reports to management
Coordinate performance appraisal
Administer compensation and benefits
Maintain employee records confidentially

Hr Policy