The Group Nomination and Governance Committee is a Committee of the Board. 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 Group Remuneration Committee is a Committee of the Board. 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 Committee – Terms of Reference – 2020
The Group Risk Committee is a Committee of the Board. 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 – 2020
The Group Audit Committee is a Committee of the Board. 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 Group Board Integration Committee was established in October 2019, following the Combination with CCFS. The primary objective of the Committee is to oversee planning and execution of the integration of OSB and CCFS, including oversight of synergies realisation.
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.