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Contents
Contents

Risk & Compliance During the continuation of the
Coronavirus pandemic, the Committee
Committee report has continued to monitor the impact of Strategic Report
the pandemic upon the performance
of the Bank, the credit quality of its
Membership and operation of
the Committee products and the systemic impact upon
customers and employees. This has been
The Risk & Compliance Committee is supported by enhanced risk monitoring
chaired by Nick Treble, and its members and management information of key
include the Chairman, Simon Moore, metrics and bespoke control activities.
Richard Perry, Tim Harvey-Samuel (from
Performance & Performance & Remuneration Committee The Bank’s October 2021) and the Chair of the Audit The Committee has provided review
responsibilities and activity in 2021
and challenge to the ICAAP and ILAAP
Committee (Ian Smith until 30 September
Remuneration The Performance & Remuneration remuneration 2021, thereafter Patrick Newberry). processes as well as the Bank’s risk Corporate Governance Statement
policy is
Committee report Committee met three times during 2021. included on Committee meetings are attended by appetite. This review and challenge
In these meetings, the Committee, carried pages 60 – 71. members of the Executive committee have been to both the Board in the
setting of its strategic plan and ensuring
including the Chief Executive Officer,
out its responsibility for overseeing
Membership and operation of the Chief Risk Officer, the Chief Financial this is calibrated to these elements as
the Committee the performance and remuneration Officer and the Chief Development well as to the business in the review,
arrangements of the Bank, and the
The Performance & Remuneration performance of all Executive Directors Officer. The Company Secretary, or an and recommendation for approval of
the ICAAP and ILAAP documents. In
appropriate delegate, acts as the secretary
Committee is chaired by Caroline Fawcett and the Chairman. to the committee. addition to the above, the Committee
and its members include the Chairman, has been integral in the Bank’s
Simon Moore, Paul ffolkes Davis (until 30 The Committee is responsible for Risk & Compliance Committee continued enhancement of its credit risk
June 2021), Tim Harvey-Samuel (from reviewing and approving the remuneration responsibilities and activity in 2021 management, providing support and
1 July 2021), Richard Perry, and Nick and performance arrangements at the challenge to the revisions to the Bank’s
Treble. The Chair of the Audit Committee Bank, including reviewing the Bank’s The Committee met nine times during
credit risk management framework and
attends meetings of the Performance & remuneration policy to ensure that it 2021. The Committee’s principal
credit grading models and ensuring these Independent Auditor’s Report
Remuneration Committee from time to remains up to date and consistent with responsibilities are the provision of are embedded into the business.
time to ensure alignment between the the relevant requirements of the Financial oversight and advice to the Board in
work of the Performance & Remuneration Conduct Authority (FCA) remuneration relation to current and potential future
The regulatory obligations of the Bank
Committee and the Audit Committee. code (SYSC 19D) and the Prudential risk exposures of the Bank and future risk in relation to GDPR and Financial Crime
Performance & Remuneration Committee Regulation Authority (PRA) rulebook, as strategy, including determination of risk have also been under scrutiny, with the
meetings are also attended by the Chief well as supporting the business strategy appetite and tolerance and to promote a Committee monitoring compliance and
Executive Officer the Chief People and values of the Bank. risk awareness culture within the Bank. embedding of these regulatory regimes
Officer and the Company Secretary. within the Bank and the outcome of
From time to time the Chief Risk Officer During the year, the Committee reviewed assurance activities in these areas. In
and Chief Financial Officer may attend and, where it felt appropriate, approved addition, the Committee has continued
to provide input on their specialist areas the Bank’s profit share scheme, sales and its regular oversight of the lending
and to give their views on the Executives’ executive bonus schemes, Long Term protocols and authorities setting out the Financial Statements
management of risk and performance Incentive Scheme based upon agreed parameters to ensure that the Bank’s
against the Senior Management Regime metrics and performance criteria, as well lending is undertaken within risk appetite.
requirements and financial performance as upon advice from the Bank’s auditors
of the Bank. The Company Secretary, and risk function. It also oversighted the The Bank’s risk management framework
or an appropriate delegate, acts as the annual pay review. The Committee has is addressed further on page 29.
secretary to the Committee. No members considered the impact of CRD V upon The Risk & Compliance
or attendees participate in the discussion its remuneration practices and strategy,
of issues directly affecting their own together with the feedback provided from Committee has been integral
remuneration. The Committee invite the FCA in their letter to the Chair
specialist external advisors to attend at of Remuneration Committee. in the Bank's continued
least annually to support their work and
educate on best practice. The Bank’s remuneration policy is included enhancement of its credit Notes to the Financial Statements
on pages 60 - 71.
risk management framework.