Board committee overview

Board Committee Overview

 

UBID Board of Directors is the principal decision-making forum for the company. It has overall responsibility for leading and controlling the company and is accountable to shareholders for financial and operational performance. The Board approves strategy and monitors performance. Throughout 2019 the UBID Board held eight scheduled meetings and eleven out of course meetings.

UBID Risk Committee provides oversight and advice to the Board in relation to current and potential future risk exposures of UBID and future risk strategy, including determination of risk appetite and tolerance. Throughout 2019 UBID Risk Committee held five scheduled and three out of course meetings.

UBID Audit Committee assists the Board in discharging its responsibilities in relation to the disclosure of the financial affairs of UBID. Throughout 2019 UBID Audit committee held five scheduled meetings and two out of course meetings.

UBID Performance and Remuneration Committee is responsible for the preparation of decisions regarding remuneration, including those which have implications for the risk, and risk management of UBID, considering the long-term interests of shareholders, investors and other stakeholders in the institution and the public interest. Throughout 2019 UBID Remuneration Committee held five scheduled and three out of course meetings.

UBID Nominations and Governance Committee assists the Board in the formal selection and appointment of directors having regard to the overall balance of skills, knowledge, experience and diversity on the Board. Throughout 2019 UBID Nominations Committee held seven scheduled and three out of course meetings.

UBID Related Party Lending Committee is responsible for the oversight and approval of lending to related parties as determined by the CBI Related Party Lending Code. Throughout 2019 UBID Related Party Lending Committee held seven scheduled meetings and three out of course meetings.

UBID Sustainable Banking Committee supports the Board in overseeing, supporting and challenging actions being taken by management to run the Bank as a sustainable customer centric business, capable of generating long term value for its stakeholders. Throughout 2019 UBID Sustainable Banking Committee held six scheduled meetings.

UBID Executive Committee manages operational issues material to UBID. The committee considers strategy, finance and budget, capital allocations, risk strategy and policy and risk management.

 

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