CWB Group’s Board of Directors has implemented four committees that are given specific oversight roles for the organization. Risk is overseen by the Board as a whole.
This committee discusses and reviews CWB Group's financial disclosures with management and external auditors, recommends the external auditor to shareholders and oversees the organization's internal controls.
Membership: Linda M.O. Hohol, Robert A. Manning (Chair), Robert L. Phillips, Q.C., Raymond J. Protti, ICD.D, H. Sanford Riley, and Alan M. Rowe, CPA, CA
This committee reviews existing governance practices to ensure alignment with legal requirements, regulatory requirements and industry best practices, and works with CWB Group management to foster a culture of ethical conduct. This committee also acts as the review committee and the nominating committee.
Membership: Albrecht W.A. Bellstedt, Q.C. (Chair), Robert L. Phillips, Q.C., Raymond J. Protti, ICD.D, and Ian M. Reid
Human Resources Committee
Responsible for CWB Group’s human capital, this committee ensures the organization's succession plans are adequate, leads compensation review and recommendation processes, and oversees the structure of executive compensation.
Membership: Andrew J. Bibby, Robert A. Manning, Sarah A. Morgan-Silvester, Robert L. Phillips, Q.C., H. Sanford Riley, and Alan M. Rowe, CPA, CA (Chair)
The Risk Committee oversees risk management at the CWB Group and balances risks vs. rewards while ensuring that management has policies, processes and procedures in place to identify and effectively manage the significant risks to which CWB Group is exposed. This includes setting lending policies and guidelines for CWB Group, and establishing lending limits for management. The Risk Committee’s Loan Adjudication Panel is responsible for evaluation and approval of loan applications that exceed these lending limits.
Membership of Risk Committee: Albrecht W.A. Bellstedt, Q.C., Andrew J. Bibby, Linda M.O. Hohol, Sarah A. Morgan-Silvester (Chair), Robert L. Phillips, Q.C., and Ian M. Reid (Chair, Loan Adjudication Panel)
Membership of Loan Adjudication Panel: Any three members of the Board of Directors (determined by the Panel Chair and the Senior Vice President, Credit Risk Management) may from time to time constitute a Loan Adjudication Panel.
For further information, including detailed descriptions of CWB Group’s management committees, please see the most recent proxy circular.