The Board has delegated responsibility to the Committee to lead the process on appointment of new members of the Board and provide oversight and guidance to the Board on all matters of Corporate Governance relating to the Company and its subsidiaries (“the Group”) not covered by other Committees. This includes, but is not limited to:
The Board has delegated responsibility to the Committee to advise the Board on developing an overall remuneration policy that is aligned with the business strategy and objectives, risk appetite, values and long term interests in the Group, recognising the interests of all stakeholders.Download the Group Remuneration and People Committee – Terms of Reference – 2022
The Board has delegated responsibility to the Committee for oversight of the Group risk appetite, risk monitoring and capital and liquidity management. The primary objectives of the Committee are to provide oversight and advice to the Board on current risk exposures and future risk strategy, and to assist the Board to foster a culture within the Group that emphasises and demonstrates the benefits of a risk-based approach to internal control and management of the Group. It performs this role by ensuring that:
Each year the Committee will review Asset liability risk, Credit risk and Operational risk reports.Download the Group Risk Committee – Terms of Reference – 2022
The primary objective of the Committee is to assist the Board in overseeing the systems of internal control and external financial reporting across the Group. It performs this role by ensuring that:
The Board Capital and Funding Committee was established in June 2021. The primary objective of the Committee is to approve capital, funding and equity activities of the Group consistent with Board-approved plans.
The Group Models and Ratings Committee was established as a sub-committee of the Group Risk Committee in January 2020. The Committee met eight times during the year.
The primary purpose of the Committee is to act as the designated Committee for the purpose of material aspects of the rating and estimation processes (as articulated in Article 189 of the EU Capital Requirements Regulation) and provide assurance of the Group’s models and ratings systems.