Rothesay’s governance structure means that decisions can be made quickly and efficiently whilst ensuring that there is robust oversight.
A strong Board with an effective committee structure facilitates Rothesay’s governance framework. Our Governance report forms part of our annual report.
The Board is supported by the Committees described below.
- Audit Committee
The Audit Committee plays a key role in monitoring the robustness of our systems and controls.
The Committee is responsible for assisting the Board in fulfilling its oversight responsibilities for the financial reporting process, the system of internal control, the internal and external audit processes and our process for monitoring compliance with laws and regulations and applicable governance principles.
- Board Risk Committee
The Board Risk Committee is responsible for the operation of our risk management framework.
The Committee’s primary responsibility is the ongoing monitoring and control of all risks associated with Rothesay’s activities, within the parameters set by the Board and as set out in the risk and investment policies of the Group. The Committee is also responsible for the oversight of the Executive Risk Committee, and its sub-committees, which are responsible for the ongoing monitoring and control of all financial risks, insurance risks and operational risks associated with the activities of the Group.
- Remuneration Committee
The Remuneration Committee is responsible for ensuring that our remuneration policy appropriately rewards and incentivises our people.
The Committee is responsible for reviewing and making recommendations to the Board regarding our remuneration policy and for reviewing compliance with the policy in so far as it relates to senior managers and other employees. In particular, the Committee is responsible for making recommendations for the remuneration packages of the independent Non-Executive Directors, Executive Directors and other Rothesay senior managers.
- Nomination Committee
The Nomination Committee is responsible for ensuring that the Board and management team have the appropriate mix of expertise and experience.
The Committee is responsible for monitoring the balance of skills, knowledge, experience, independence and diversity on the Board, and identifying and recommending Board and Board committee appointments. It also monitors succession plans for the Executive Directors and the development plans of senior management.
- Customer Conduct Committee
The Customer Conduct Committee is responsible for ensuring that customers, clients and counterparties are treated fairly by us and our strategic business partners and also oversees our approach to regulatory conduct.
The Committee is responsible for providing oversight of, and assisting the Board in ensuring that we meet, our standards for, and our regulatory obligations to, customers, clients and counterparties. The Committee also monitors conduct risk that impacts, or could impact, our customers, clients and counterparties.
- Know Your Client and Anti-Money Laundering
Rothesay is committed to preventing financial crime in all its forms and complying with both the spirit and the letter of all applicable financial crime legislation and regulations, including but not limited to UK money laundering and sanctions regulations and FCA regulatory requirements.
- Anti-Bribery and Corruption
Rothesay is firmly committed to complying with all applicable anti-bribery and anti-corruption law including but not limited to the Bribery Act 2010.