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The Board of Quilter plc has created five Committees in order to assist it in satisfying its responsibilities and to ensure independent oversight of risk management and internal control. Each Committee has its own terms of reference which confirm how it will be governed and the matters that are within its remit.

Board Audit Committee

The role of the Board Audit Committee (the “Committee”) is principally to review and monitor:

  • The integrity of the Quilter financial statements and related announcements
  • The effectiveness of the internal control framework across Quilter and its subsidiaries (joint responsibility with the Board Risk Committee);
  • The effectiveness of the internal and external audit process;
  • The relationship with the external auditors; and
  • The effectiveness of the Whistleblowing procedures of Quilter and its subsidiaries.

 

Board Corporate Governance and Nominations Committee

The role of the Board Corporate Governance and Nominations Committee (the “Committee”) is to:

  • Support and advise the Board in ensuring that the composition of the Board enables the Board to be effective and entrepreneurial and supports the long term sustainable success of the Company.  This includes ensuring that there are plans in place for orderly succession to both the Board and senior management positions. The Committee also oversees the development of a diverse pipeline for succession.
  • Ensure that the Company has the appropriate corporate governance standards and practices in place.
  • Oversee the process for Board appointments and make recommendations to the Board on appointment of new Directors.
  • Keep the Board’s governance arrangements under review and make appropriate recommendations to the Board on the governance arrangements for Quilter and the wider Quilter business.
  • Ensure there is a robust framework in place regarding Board and Executive Committee recruitment.

 

Board Technology and Operations Committee

  • Oversees the implementation, execution and delivery of the Technology Strategy and Operations Strategy
  • Provides oversight and challenge on Technology and Operations Risk profile
  • Oversees Information Security, Information Management and Operational Resilience strategy, systems and controls
  • Oversees Strategic Technology and Operational Change Programmes

 

Board Remuneration Committee

  • Sets the overarching principles and parameters of remuneration policy across Quilter
  • Considers and approves remuneration arrangements for Executive Directors and Senior Executives
  • Approves individual remuneration awards
  • Agrees changes to Senior Executive incentive plans

 

Board Risk Committee

The role of the Board Risk Committee (the “Committee”) is principally to review management’s recommendations on strategic, financial, operational, conduct and other areas of risk, as set out in the Enterprise Risk Management Framework (ERMF) in particular:

  • Consider and recommend to the Board Quilter’s risk strategy and risk appetite;
  • Review, on behalf of the Board, the management of Quilter’s principal risks;
  • Review Quilter’s risk profile in respect of these principal risks;
  • Consider Quilter’s emerging risks and impact to the Company’s long-term strategic objectives;
  • Commission, receive and consider reports on key financial, operational and other risk issues.