Page 52 - 86395_CCB - 2024 Annual Report (web)

52

Performance &
Remuneration

Committee report

Membership and operation of
the Committee
The Performance & Remuneration
Committee is chaired by Caroline Fawcett
(Senior Independent Non‑Executive
Director) and its members in 2024
included Patrick Newberry (Chair of
Board), Tim Harvey‑Samuel (Shareholder
Representative), Michele Ibbs (Shareholder
Representative) and Elizabeth Lockwood
(Chair of Risk Committee). The Chair of
the Audit Committee attends meetings
of the Performance & Remuneration
Committee from time to time to ensure
alignment between the work of the
Performance & Remuneration Committee
and the Audit Committee. Performance is the responsibility of the Shareholders in
& Remuneration Committee meetings consultation with the Chair of Board.
are also attended by the Chief Executive The Performance & Remuneration
Officer, the Chief People Officer, and Committee:
the Company Secretary. The Chief Risk
Officer attends annually to present his Ž exercises independent judgment on
views on the Executives’ management of remuneration policies, practices, and
risk and performance against the Senior recommendations of the Executive;
Management Regime requirements and Ž ensures compliance with this policy,
company framework. No members or regulations, and statutory duties;
attendees participate in the discussion
of issues directly affecting their own Ž advises on remuneration policies and
remuneration. The Committee invites practices generally;
specialist external advisors to attend at Ž provides specific recommendations
least annually to support their work and on remuneration packages and other
educate on best practice.
terms of employment for Executive
Directors; and
Committee responsibilities and activity
in 2024 Ž considers the implications of
remuneration policy and practices
The Performance & Remuneration on the management of risk, capital,
Committee met five times during 2024. and liquidity.
The Committee is responsible for
reviewing and approving the remuneration The Performance & Remuneration
and performance arrangements at the Committee engages Deloitte LLP (Deloitte)
Bank, including reviewing the Bank’s to provide independent advice on
remuneration policy to ensure that it remuneration matters. Deloitte is a member
remains up to date and consistent with of the Remuneration Consultants Group
the relevant requirements of the Financial and, as such, voluntarily operates under the
Conduct Authority (FCA) remuneration code of conduct in relation to executive
code (SYSC 19D) and the Prudential remuneration consulting in the UK.
Regulation Authority (PRA) rulebook, Deloitte has provided independent advice
as well as supporting the business on matters under consideration by the
strategy and values of the Bank. In doing Performance & Remuneration Committee
this, it oversees the performance and including compliance with regulations,
remuneration of the Chair and members advice on market trends and data,
of the Executive. Remuneration of NEDs remuneration policy and implementation