Independent Adviser - Remuneration Assurance Committee

About us:

The CBA London Branch Remuneration Assurance Committee (RAC ) has a minimum of three independent members (Non-Executive Directors) and assists the Group CBA Board and its People and Remuneration Committee (PRC ) in discharging their responsibilities in relation to CBA London Branch’s remuneration governance.

Do work that matters:

As a member of the RAC, you will assist the Group PRC and the Board in discharging their responsibilities solely in relation to the London Branch on matters relating to:

• London Branch’s remuneration strategy, considered in the context of the remuneration strategy of the Commonwealth Bank of Australia Group (Group) and the objectives, culture, values and long-term interests of the Bank;
• Overseeing the London Branch’s remuneration policy and practices so that they are aligned to London Branch’s overall corporate governance framework and related governance processes, as well as its business and risk strategy, objectives, culture, values and long-term interests;
• Alignment of London Branch’s remuneration practices to current UK governance, legal and regulatory requirements, including under the remuneration rules established by the Prudential Regulation Authority and Financial Conduct Authority and applicable regulatory guidance;
• Encouraging behaviours which appropriately mitigate against operational, financial, regulatory and reputational risks and take into account liquidity and capital levels;
• Approving London Branch MRT identification methodology and ensuring oversight of its implementation on an on-going basis; and
• Approving remuneration arrangements and outcomes of individuals who are MRTs of the London Branch and individuals with significant variable remuneration.

While independent, your regular focus will be on London Branch, in close collaboration with Group strategic priorities and practices through Group Secretariat in Sydney, Australia.

We are interested in hearing from you if you have:

• You will be a high calibre business leader (C-suite or Executive level) who has operated successfully within the UK banking/lending sector in customer oriented, market leading organisations where growth and change have influenced success;
• You will have significant experience within the UK and/or European Banking sector with regulated regime experience gained within a financial/professional services environment;
• Financial acumen and financial services experience in the UK;
• Strong understanding of corporate governance principles both conceptual and in practice, including the role of remuneration committees and their responsibilities;
• Strong understanding of UK remuneration regulatory requirements;
• Experience in leading, developing or executing strategic business objectives;
• Risk Management and experience in identifying, assessing and monitoring systemic, existing and emerging financial and non-financial risks;
• Stakeholder engagement and ability to build and maintain relationships with industry, regulators and senior management;
• Familiarity with HR practices, compensation and benefits and performance management;
• You may have held positions on boards and remuneration committees.

If you are interested in having more details, please submit your application and we will contact you to discuss further should you meet the requirements for the role.

If you\’re already part of the Commonwealth Bank Group (including Bankwest, x15ventures), you\’ll need to apply through Sidekick to submit a valid application. We’re keen to support you with the next step in your career.

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