Board Composition

The Board of Directors are guided by Savings & Loan Society Act 2015, the Constitution of TISA, Prudential Standards of the Central Bank, Board Charter and other applicable regulatory provisions.  

The Bank of Papua New Guinea (regulator) sets the minimum competencies regarding personal attributes, skills and knowledge that each director should bring to the Society.

The Governor of the Bank of Papua New Guinea may undertake relevant skills gap analysis to ensure that the Board has the right mix of skills.

Board Members are then required to be assessed by the Governor of the Bank of Papua New Guinea with regards to these minimum competencies.

This “Fit and Proper” frame work deals with matters such as Minimum Competency, Director Development, Independence, Director Refreshment & Renewal and Performance.

Board Members

The Board is made up of Non Executive and Independent Directors

Gabriel Tai


William Varmari


Michael O. Koisen, OBE ML


Simon Woolcott
 Independent Director


Lucy Sabo-Kelis
 Independent Director


Dr. Peter Mason
 Independent Director

The Board is required to have extensive business acumen to bring accountability and sound judgement to the Board’s deliberations to ensure optimum benefit to members, employees and the wider community.

  • The responsibilities of the board include: Providing strategic guidance to the Society including contributing to the development and approval of the corporate strategy.
  • Reviewing and approving business plans, the annual budget and investment plans, including capital resources procurement and major capital expenditure initiatives
  • Overseeing and monitoring:
    • Organisational performance and the achievement of the Society’s strategic goals and objectives.
    • Compliance with the Society’s Code of Conduct.
    • Progress of major capital expenditures and other significant corporate projects including any acquisitions or investments.
  • Monitoring financial performance, treasury operations including approval of the annuals and half-year financial reports.
  • Appointment, performance assessment and if necessary removal of the Chief Executive Officer.
  • Ensuring there are effective management processes in place and approving major corporate initiatives
  • Enhance and protect the reputation of the organisation.
  • Report to members and monitors that all Bank of PNG regulatory requirements are met;
  • Oversee internal controls and processes for identifying areas of significant business risk;
  • Ensure that Teachers Savings and Loans Society’s business is conducted ethically and transparently.

Review Board of Directors Code of Conduct here


TISA's Management Team

Michael O. Koisen, OBE ML
TISA Group Chief Executive Officer

Igimu Momo

Chief of Strategic Projects

Luke Kaul
Chief Operating Officer

Samir Kumar Bhatnagar
Chief Information Officer

Philip Hehonah

Company Secretary


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