Human Resources & Remuneration Committee
The Committee consists entirely of non-executive Directors, most of whom are independent.
The Committee plays a key role in assisting the Board to fulfil its responsibilities in relation to the remuneration of executive Directors, Senior Management, other key personnel and the employee Remuneration policy.
The Committee's main duties and responsibilities are:
- To set the over-arching principles and parameters of the Remuneration Policy (details can be found in the Annual Corporate Governance Report) across the Group and exercise oversight for remuneration issues.
- To prepare decisions regarding remuneration, which are consistent with the risk appetite of the Group, prevent conflicts of interest and promote sound and effective risk management and are aligned with the Group's capital and liquidity availability.
- To review the structure of the remuneration for the Heads of the control functions.
- To review at least annually the appropriate structure of the remuneration system and whether the total amount of variable compensation has been set in accordance with the Remuneration Framework of the Central Bank Directive on Governance.
- To support the Board in monitoring whether the internal control functions and other relevant Divisions are properly involved in the structuring of the remuneration system.
- To propose fees payable to the Chairperson and the Vice-chair to the Board for approval.
- To review the annual training plan and ensure it creates and/or develops the right competencies and behaviours to meet the Bank's strategic priorities.
- To oversee HR initiatives such as the implementation of an Employee Wellbeing Care Programme and the application of fair and transparent recognition initiatives.
Human Resources & Remuneration Committee (HRRC)
Lyn Grobler (Chair)