Rothesay’s governance structure means that decisions can be made quickly and efficiently whilst ensuring that there is robust oversight.

Our report

A strong Board with an effective committee structure facilitates Rothesay’s governance framework. Our Governance report forms part of our annual report.

Annual Report and Account 2019

Our Committees

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. The Committee also receives reports from the Customer and Conduct Committee.

Download the Committee’s terms of reference

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 level Working Level 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.

Download the Committee’s terms of reference

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.

Download the Committee’s terms of reference

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.

Download the Committee’s terms of reference