The Board and committee structure is supported by the Executive who are delegated the day-to-day running of HSBC Innovation Banking and delivery of its strategy. The Executive is led by the CEO, Simon Bumfrey, who is supported by the Executive Committee.

Nomination Committee

The Nomination Committee leads the Board’s recruitment processes and recommends candidates for the Board and senior executive appointments. Other key responsibilities include:

Board induction and training;
conducting Board effectiveness assessments and performance reviews;
the Board Diversity Policy;
Board composition and suitability assessments, ensuring no dominance by one individual or group; and
reviewing corporate governance arrangements.

The Nomination Committee consists of three independent non-executive director members and is chaired by Mridul Hegde.

Remuneration Committee

The Remuneration Committee reviews the effectiveness of the remuneration policy and practices and approves the remuneration of executive directors and senior employees, taking into consideration the company’s stakeholders and public interest. No HSBC Innovation Bank Limited director or employee is involved in any decisions relating to their own remuneration.

The Remuneration Committee consists of three independent non-executive members and is chaired by Helen Heslop.

Audit Committee

The Board Audit Committee oversees the internal controls systems relating to financial reporting and monitoring. Other key responsibilities include:

informing the Board of the outcome of the statutory audit, annual reports, financial regulatory submissions and financial processes; and
overseeing and reviewing the effectiveness of the External Auditor, Internal Audit and internal controls.

The Board Audit Committee consists of three independent non-executive members and is chaired by Helen Heslop, who is responsible for overseeing the performance of the Committee. The Board Audit Committee members are deemed to be competent in accounting, auditing and/or have relevant sector experience.

Risk Committee

The Board Risk Committee monitors management’s control and management of risk and advises the Board on risk appetite and risk tolerance. Other key responsibilities include:

advising management on current and future risk appetite and overseeing the implementation of the risk strategy;
ensuring the examination of whether remuneration incentives consider risk, capital, liquidity, and timing of earnings; and
ensuring an independent and effective risk function.

The Board Risk Committee consists of three independent non-executive members and is chaired by Astrid Grey, who is responsible for overseeing the performance of the Committee’s oversight of the risk management system. The Board Risk Committee members are deemed to have appropriate knowledge, skills and expertise to understand and monitor risk strategy and appetite.

Leadership