Our Committees
The Board is assisted by a number of committees which are responsible for a wide range of activities: from assessing the Group's financial statements and internal controls to monitoring areas of risk.
- Audit Committee
- Board Governance & Nominations Committee
- Remuneration Committee
- Group Risk Committee
Audit Committee
The Audit Committee is responsible for helping the Board fulfill its oversight responsibilities; specifically the ongoing review, monitoring and assessment of:
- The integrity of the financial statements, any formal announcements relating to financial performance and reviewing significant financial reporting judgments contained in them
- The systems of internal control
- The internal and external audit processes
- Compliance with applicable laws and regulations in relation to the preparation of financial statements and reporting
- The Society's ethical and business standards
- The appointment, reappointment and removal of external auditors
Current members:
- Mark Pain - Vice Chairman (Committee Chair)
- Gordon Ireland - Non-executive Director
- Neeta Atkar - Non-executive Director
- Guy Bainbridge - Non-executive Director
View the Internal Audit Charter (77 KB) for the Group Internal Audit function which is approved by the Audit Committee
View the Terms of the Reference (46 KB) for the Audit Committee
Board Governance & Nominations Committee
The Board Governance & Nominations Committee is responsible for reviewing the composition of the Board and nominating candidates for the position of director. They take into account the balance of existing skills, knowledge and experience on the Board and make appropriate recommendations for future additions.
Current members:
- John Heaps - Chairman
- Alison Hutchinson - Non-executive Director
- Mark Pain - Vice Chairman
View the Terms of the Reference (56 KB) for the Board Governance & Nominations Committee
View the Board Governance and Nominations Committee Report (250 KB) as contained in the 2018 Annual Report & Accounts.
If you'd like more information, the Board has published a detailed Corporate Governance Report, 2018 (313 KB)
Remuneration Committee
The Remuneration Committee is responsible for considering and approving the remuneration of executive directors and other senior managers.
The overall policy on executive directors' remuneration is:
- It should be competitive with other comparable organisations in the financial sector
- It should attract and retain high calibre individuals with the relevant experience
- It should be based (in part) on the Society's financial and service performance (including customer satisfaction) and individual performance to motivate and reward successful business and personal performance
Current members:
- Guy Parsons – Non-executive Director (Committee Chair)
- John Heaps – Chairman
- Alison Hutchinson – Non-executive Director
View the Terms of the Reference (56 KB) for the Remuneration Committee
View the Directors Renumeration Report, 2018 (505 KB) as contained in the 2018 Annual Report & Accounts
View the Remuneration Policy (314 KB)
View the 2018 Gender Pay Report (366 KB)
Group Risk Committee
The Group Risk Committee is responsible for bringing together all risk information and reporting to the Board. They have specific responsibility for the oversight of capital resources, operational risks and monitoring and reporting on more general risk issues.
Current members:
- Neeta Atkar - Non-executive Director (Committee Chair)
- Alison Hutchinson - Non-executive Director
- Mark Pain - Non-executive Director
- Gordon Ireland - Non-executive Director
View the Terms of Reference (55 KB) for the Group Risk Committee
Who's on our Board
Meet the executive and non-executive directors who sit on our board and look after the financial interests of the Society and its members.
Corporate Governance
Read how corporate governance helps shape the way the Board protects the interests of the Society and its members.