Transcription of Corporate Governance Framework - RBC
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Corporate Governance Framework March 2018 TABLE OF CONTENTS 1. INTRODUCTION .. 3 2. Corporate Governance PRINCIPLES .. 3 3. Governance STRUCTURE .. 5 4. THE board S ROLE .. 5 5. COMMITTEES OF THE board .. 6 Committee Chairs .. 6 Audit Committee .. 7 Risk Committee .. 7 Governance Committee .. 7 Human Resources Committee .. 8 External advisors .. 8 6. MANAGEMENT S ROLE .. 8 Group Executive .. 8 Oversight functions .. 9 Reporting and escalation of significant issues to the Audit Committee and Risk Committee .. 9 Disclosure controls and certifications .. 9 7. board COMPOSITION .. 10 board size .. 10 Independence of the board .. 10 Interlocking directorships .. 11 Evaluating candidates for the board .. 11 board diversity.
board makes major policy decisions, participates in strategic planning, delegates to management authority and responsibility for day-to-day affairs and reviews management’s performance and effectiveness. The Bank Act specifies certain important matters that must be dealt with by the board, such as approval
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