The Board of Directors
The Board of Directors is responsible for the overall governance of the organisation. Directors are elected following an open and thorough selection process which takes into account skills, knowledge, experience, diversity, geographical spread and fit with the ethos and values of the organisation.
Directors have responsibility for providing strategic direction, and ensuring good governance. Their responsibilities, accountabilities and powers which include the following:
- Corporate governance – reviewing and monitoring corporate governance, monitoring performance and effectiveness
- Strategy – providing strategic direction, reviewing, approving and monitoring corporate strategies and plans, reviewing and approving capital and revenue budgets and investments
- Performance – reviewing company results and monitoring internal controls
- Audit, risk management and compliance – monitoring and reviewing the risk management processes, the risk profile and compliance with relevant standards and regulatory requirements
- Integrity of external reporting – monitoring and reviewing the processes, controls and procedures to maintain the integrity of accounting, financial records and statements
- Executive review and culture – Monitoring and influencing the Wise Group culture, reputation and ethical standards including matters of equality and diversity.
The Board delegates matters to two committees and the Chief Executive in exercising its responsibilities.
The matters delegated to the two committees are detailed in their respective terms of reference.
The Finance and Audit Committee ensures effective systems of integrated governance, risk management and internal control.
The Personnel Committee takes a strategic overview of people issues including people planning, learning and development, equality and diversity, employee relations, and health and wellbeing.