RBS 2012 Annual Report Download - page 299

RBS GROUP 2012
297
Group Board and Board committee structure
Group Board is the main decision making forum at Group level, setting
the strategic direction of the Group and ensuring that the Group manages
risk effectively. The Board is accountable to shareholders for financial
and operational performance.
Group Audit Committee assists the Board in discharging its
responsibilities for the disclosure of the financial affairs of the Group. It
reviews the accounting policies, financial reporting and regulatory
compliance practices of the Group and the Group’s system and
standards of internal controls, and monitors the Group’s processes for
internal audit and external audit.
Board Risk Committee provides oversight and advice to the Board on
current and potential future risk exposures of the Group and risk strategy.
It reviews the Group’s performance on risk appetite and oversees the
operation of the Group Policy Framework.
Group Performance and Remuneration Committee (formerly Group
Remuneration Committee) has oversight of the Group’s policy on
remuneration. It also considers senior executive remuneration and makes
recommendations to the Board on remuneration of executive directors.
Group Nominations Committee assists the Board in the selection and
appointment of directors. It reviews the structure, size and composition of
the Board, and membership and chairmanship of Board committees.
Group Sustainability Committee is responsible for overseeing and
challenging how management is addressing sustainability and reputation
issues relating to all stakeholder groups, except where such issues have
already been dealt with by other Board committees.
Executive Committee is responsible for managing Group-wide issues and
those operational issues that affect the broader Group. It reviews
strategic issues and initiatives, monitors financial performance and capital
allocations and considers risk strategy, policy and risk management.
Our governance structure
Group
Board
Group Board
Group Audit
Committee Group Board
Board Risk
Committee Group Board
Group
Performance and
Remuneration
Committee
Group Board
Group
Nominations
Committee
Group Board
Group
Sustainability
Committee
Group Board
Executive
Committee