Controls and Approvals Document
Control
Document name |
NorthStandard Board Diversity and Inclusion Statement |
|---|---|
Owner |
Group General Counsel |
Purpose and use |
As a PRA regulated firm NorthStandard is required to engage a broad set of qualities and competencies when recruiting members to its governing body (i.e. the Board of Directors). This statement details NorthStandard’s policy for promoting diversity on the governing body and explains how it complies with the PRA’s requirement. This statement is published on NorthStandards’s website. |
Notes |
Please keep the Chief Risk Officer informed of any facts which you may consider relevant to this policy and to the duties to be performed by the risk management, internal audit, compliance, or actuarial functions. This is designed to ensure the activities undertaken by our ‘second line of defence’ and our systems and controls remain appropriate to our business activities. |
Document History and Approvals
Revision Date |
Revised by |
Purpose of revision |
Owner approval |
NorthStandard Board Approval |
|---|---|---|---|---|
May 2018 |
Group General Counsel (GGC) |
Policy approved by NorthStandard Board of Directors |
May 2018 |
May 2018 |
A diverse and inclusive culture is essential to the long-term success of NorthStandard and enabling us to respond to our diverse Member and wider stakeholder needs, as we create an environment that promotes dignity and respect for all. We acknowledge that advancing diversity demands commitment and action from all levels of the organisation and the Board will set the tone for inclusion and diversity across the business.
We understand the richness a diverse Board brings in providing the range of perspectives, insights and challenges needed to support good decision making. At NorthStandard diversity encompasses, amongst other things, experience, skills, tenure, age, geographical expertise, professional background, gender, ethnicity, disability, and sexual orientation.
NorthStandard’s Nominations Committee will monitor the balance of skills, knowledge, experience and diversity on the Board; leading to successful planning for appointments to the Board and the senior executive team. New appointments will be made on merit, taking into account the specific skills and experience needed to ensure a rounded Board and the diversity benefits each candidate can bring to the overall Board composition.
NorthStandard’s Nominations Committee shall also ensure that the Group’s recruitment process facilitates NorthStandard’s diversity and inclusion policy.
Statement Creation May 2018