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Group Audit Committee

Members: Jonathan Symonds (Chairman), Phillip Ameen, Kathleen Casey and David Nish.

All members of the Committee are independent non-executive Directors.

The Group Audit Committee (GAC) has non-executive responsibility for:

  • Monitoring the integrity of financial statements;

  • Overseeing the internal controls systems relating to financial reporting;

  • Monitoring and reviewing the effectiveness of the Global Internal Audit function;

  • Reviewing the Company’s financial and accounting policies and practices;

  • Oversight and remuneration of the external auditor and making recommendations to the Board on the appointment of the external auditor;

  • Reviewing with management steps for recovery and resolution planning.

Group Risk Committee

Members: Joachim Faber (Chairman), John Lipsky, Rachel Lomax, Heidi Miller and Jack Tai.

All members of the Committee are independent non-executive Directors.

The Group Risk Committee (GRC) has non-executive responsibility for:

  • Advising the Board on high-level risk-related matters and risk governance, including current and forward looking risk exposures, future risk strategy and management of risk within the Group;

  • Advising the Board on risk appetite and risk tolerance; reviewing the effectiveness of the Group’s risk management systems framework and internal control systems (other than internal financial control systems which is the responsibility of the GAC);

  • Monitoring executive control and management of risk including top and emerging risks;

  • Advising the Group Remuneration Committee on the alignment of remuneration with risk appetite.

Financial System Vulnerabilities Committee

Members: Lord Evans of Weardale (Chairman), Kathleen Casey and Jack Tai, who are independent non-executive Directors.

Nick Fishwick, Dave Hartnett, Bill Hughes, David Irvine, William Patey, Nehchal Sandhu, Leonard Schrank and Juan Zarate, who are co-opted non-director members.

The Financial System Vulnerabilities Committee (FSVC) has non-executive responsibility for:

  • Governance, oversight and policy guidance over HSBC's framework of controls and procedures designed to identify areas where HSBC and the financial system more broadly may become exposed to financial crime or system abuse;

  • Oversight of matters relating to anti-money laundering, sanctions, terrorist financing and proliferation financing, including the establishment, implementation, maintenance and review of adequate policies and procedures sufficient to ensure the continuing obligations to regulatory and law enforcement agencies are met and oversight of implementation of the actions necessary to build assurance in these areas;

  • Advising as applicable on the implementation of the Global Standards programme;

  • Oversight of matters relating to HSBC’s information security environment and cyber security framework;

  • Providing a forward-looking perspective to the Board on financial crime risk;

  • Oversight of controls relating to anti-bribery and corruption.

Group Remuneration Committee

Members: Sam Laidlaw (Chairman), John Lipsky, Pauline van der Meer Mohr and Paul Walsh.

All members of the Committee are independent non-executive Directors.

The Group Remuneration Committee has non-executive responsibility for:

  • Approving the remuneration policy of the Company;

  • Setting the over-arching principles, parameters and governance framework of the Group’s remuneration policy and the remuneration of executive Directors and other senior Group employees;

  • Regularly reviewing the effectiveness of the remuneration policy of the Company and its subsidiaries in the context of consistent and effective risk management;

No Directors are involved in deciding their own remuneration.

Nomination Committee

Members: Sam Laidlaw (Chairman), Laura Cha, John Lipsky, Rachel Lomax, Pauline van der Meer Mohr and Paul Walsh.

All members of the Committee are independent non-executive Directors.

The Nomination Committee has non-executive responsibility for:

  • Leading the process for Board appointments and for identifying and nominating, for approval by the Board, candidates for appointment to the Board;

  • Succession planning for both executive and non-executive directors and membership of Board committees;

  • Regularly reviewing the structure, size and composition of the Board including the balance of skills, knowledge, experience and diversity.

Conduct & Values Committee

Members: Rachel Lomax (Chairman), Laura Cha, Lord Evans of Weardale, Jonathan Symonds and Pauline van der Meer Mohr.

All members of the Committee are independent non-executive Directors.

The Conduct & Values Committee has non-executive responsible for:

  • Policies, procedures and standards to ensure that the Group conducts business responsibly and consistently adheres to HSBC Values;

  • Aligning its work to HSBC’s purpose of connecting customers to opportunities, enabling businesses to thrive and economies to prosper, and ultimately helping people to fulfil their hopes and realise their ambitions;

  • Ensuring that in the conduct of its business, the Group treats customers fairly and openly, does business with the right clients and in the right way, is a responsible employer, acts responsibly towards the communities in which it operates and treats other stakeholders fairly;

  • Overseeing the promotion and embedding by management of HSBC Values and its required global conduct outcomes;

  • Providing inputs, as appropriate, to the Group Remuneration Committee on the alignment of remuneration with conduct.

Philanthropic & Community Investment Oversight Committee

Members: Laura Cha (Chairman) and Lord Evans of Weardale, who are non-executive Directors.

Sir Malcolm Grant, Lord Janvrin and Stephen Moss, who are co-opted non-director members.

  • The Philanthropic & Community Investment Oversight Committee (PCIOC) oversees philanthropic and community investment initiatives, including both monetary donations and employee volunteering activities.