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Remuneration and General Purposes Committee

The Committee is a sub-committee of the main Board and was established to support the Board with technical expertise in respect of Remuneration, Human Capital Management (including oversight of SMR arrangements), Capital Expenditure and Business Planning. Its terms of reference include, but are not limited to:

  • Recommending expenditure authorities within the Bank;
  • Approving the Bank’s remuneration policy, the remuneration of the Bank’s staff including those staff identified as material risk takers, examining proposals from the Executive Management for annual increments and variable remuneration and recommending Director remuneration to the Board;
  • Overseeing the annual performance evaluation of the Board and its sub-committees, including annual assessment of the effectiveness of the Chair and individual executive and non-executive directors;
  • Nominating for Board approval those individuals who it has evaluated for senior manager functions under the SMR; and
  • Reviewing capital projects, systems requirements and other resource requirements as requested by the Board.

The Committee comprises three members, with a Non-Executive Director serving as chair.

The Bank’s Board Committees are supported by a series of Executive Level Committees