Page 49 - 86395_CCB - 2024 Annual Report (web)
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Underpinning the purpose of the Nominations & Governance
Bank, is our culture, which the Board Committee report
has continued to oversee and develop.
During 2024 we have placed a greater
emphasis on our people and culture Membership and operation of the Committee
driven by refined colleague engagement Since September 2022, the Nominations &
surveys. This has enabled us to continue Governance Committee has been chaired by
to enhance how culture is embedded Patrick Newberry. In addition to Patrick (Chair
in the business and how it promotes a of Board), the Committee members in 2024
diverse and inclusive workplace. included Tim Harvey‑Samuel (Shareholder
We also kept abreast of the
regulatory changes that affected our Representative), Michele Ibbs (Shareholder
Representative), Mike Peck (Chair of Audit
business and our stakeholders and
Committee), and Caroline Fawcett (SID and
ensured our compliance and readiness
Chair of Performance and Remuneration
for them. One of the recent key
Committee). Elizabeth Lockwood as Chair
regulatory changes was the introduction
of Risk & Compliance Committee attends
of the Consumer Duty by the FCA,
occasionally, in line with the responsibilities
which set higher and clearer standards
of her role. The Chief Executive Officer, Chief
of consumer protection across financial
People Officer and General Counsel (Committee
services, and required firms to put
Secretary) also attend committee meetings.
their customers’ needs first. The Board
The Committee is responsible for
welcomed this new duty and received its
making recommendations for appointments
first report in 2024, highlighting how it
to the Board, including Board Committee
has been embedded within the business
membership and chair, monitoring the
together with recommendations for
further enhancements. governance arrangements of the Bank,
Finally, the Board approved pursuing including recommending changes to ensure
further transformation projects to consistency with best practice and corporate
optimise our models and product governance standards. This Committee is
propositions. These projects aim to also responsible for overseeing that Directors
improve our regulatory reporting and IT fulfil their responsibilities under the Senior
Management Regime. The Senior Independent
infrastructure, enhancing our capacity for Director also conducts a similar appraisal of the
scale and automation and readying the Chair’s performance.
Bank for its next stage of growth.
