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Board roles and responsibilities

Board

The Board is the custodian of the Bank’s Values and of its long-term vision, and provides strategic direction and guidance for the Company. There are certain matters which are deemed significant enough to be reserved for only the Board's decision. These are set out in a schedule of Matters Reserved to the Board.

Chair

The Chair leads the Board, ensuring its effectiveness while taking account of the interests of Tesco Bank’s various stakeholders, and promoting high standards of corporate governance. Key responsibilities include:

  • ensuring the Directors receive accurate, timely and clear information;
  • facilitating the effective contribution of Non-Executive Directors and the engagement between Executive and Non-Executive Directors;
  • ensuring an annual evaluation of the Board is conducted and leading the performance evaluation of the Chief Executive and Non-Executive Directors;
  • ensuring that Committee Chairs conduct evaluations of the Committees they chair;
  • building an effective Board;
  • the induction of new Directors and further training for all Directors, as appropriate;
  • communicating effectively with stakeholders and ensuring that the Board develops an understanding of the view of stakeholders.

 

Chief Executive

The Chief Executive leads the development of strategy and manages all aspects of the performance and management of Tesco Bank. Key responsibilities include:

  • leading the development of Tesco Bank’s strategic direction and implementing the agreed strategy;
  • identifying and executing new business opportunities;
  • managing Tesco Bank’s risk profile and implementing and maintaining an effective framework of internal controls;
  • building and maintaining an effective top management team; and
  • ensuring effective communication with Tesco PLC and key stakeholders.

 

Senior Independent Non-Executive Director

In addition to their role as a Non-Executive Director, the Senior Independent Non-Executive Director has responsibility for the Chair's appraisal and succession and to hold at least one meeting each year with the Non-Executive Directors without the Chair present.

 

Non-Executive Directors

Our Non-Executive Directors have the wide range of skills and experience necessary to enable them to provide constructive challenge, scrutinise performance and help to develop Tesco Bank’s strategy.