Board committees

Find out about the different board committees we have in place at the West Brom. Information includes the purpose of each individual committee as well as the specific functions that they undertake.

Remuneration Committee

This Board committee undertakes (amongst other issues) the following:

  • The development of remuneration policy; and
  • Negotiating the remuneration of individual directors

Nomination Committee

This Board committee (amongst other issues):

  • Recommends appointments and re-appointments of Directors to the Board.
  • Recommends the composition of Board Committees to the Board.
  • Reviews the structure, size and composition of the Board.
  • Reviews Society statements relating to Corporate Governance. 

The Society has allocated positions with Senior Management Responsibilities in accordance with the PRA’s rules; for example, the individual performing the Society's Chairman Function does not simultaneously perform the Society’s Chief Executive Function.



Audit Committee

This Board committee (amongst other issues):

  • Provides the Board with assurance regarding the integrity of the financial statements and associated documents.
  • Ensures the adequacy and effectiveness of the Society’s internal control systems.
  • Ensures the effectiveness of the Society’s Internal Audit function - further details on the 'Internal Audit Charter' can be found here
  • Ensures the effectiveness of the Society’s external auditors.


Risk Committee

This Board committee (amongst other issues):

  • Oversees the development, implementation and maintenance of the Society’s risk management framework, including its risk appetite statements and metrics to ensure they are appropriate and align with business strategy, current and emerging regulatory, corporate governance and industry best practice.
  • Reviews the processes and procedures for ensuring that all material and business risks are properly identified and appropriate systems of assessing, monitoring and controls are in place.
  • Receives and reviews management reports which assess the nature and extent of the current and emerging risks facing the Society.  
  • Reviews and approves annually the Society’s Risk Management Framework Document, Policy Governance Framework and Credit Risk Policies.