The HBF Board has Board Process Policies in the Board Governance Policy Manual, which establish a robust structure for defining governance of the HBF and Subsidiary Boards’ own processes.
View the Board Process Policies
Committee Terms of Reference
The Directors execute their responsibilities directly and via participation in Board Committees. Each Committee has a charter approved by the HBF Board that details its purpose, focus, powers and authority. Charters are also approved by Subsidiary Boards where relevant. These charters are reviewed regularly for relevance. There are currently two Committees appointed by the HBF and Subsidiary Boards to deal with specific areas of responsibility, these being Audit and Risk Management and Nomination and Remuneration.
Audit and Risk Management Committee
The role of the Audit and Risk Management Committee is to assist the HBF and Subsidiary Boards in fulfilling their responsibilities relating to financial reporting practices, accounting policies, audit and assurance, compliance with both legal and ethical requirements and the risk management framework of the Group.
View the Audit and Risk Management Terms of Reference (pdf)
Nomination and Remuneration Committee
The Committee reviews and advises on HBF and Subsidiary Board composition (including succession planning and renewal), Director selection and removal, Board and Director performance, and Directors’ skills, training and development. The Committee also assesses and reviews the remuneration policy and its effectiveness, the appropriateness of performance based arrangements and contractual terms and remuneration arrangements for all senior executive employees.
View the Nomination and Remuneration Committee Terms of Reference (pdf)