Corporate governance
Corporate governance is the set of processes, customs, policies, committes and laws that affect the way an organisation is directed, administered and controlled.
The States of Jersey remains the soleshareholder of Jersey Post International Limited (JPIL) and the Treasury and Resources Minister has a Memorandum of Understanding with the company. This document helps to shape our corporate governance as it requires compliance with the Combined Code of Corporate Governance issued by the Financial Reporting Council.
The JPIL Board has established the following committees to help it deliver its corporate governance responsibilities.
Audit committee
The Audit Committee meets at least three times a year and the meetings are attended by the Chairman of Jersey Post International Limited, the Finance Director, Company Secretary and an external auditor. The main responsibility of this committee is reviewing all Group strategic processes for risk, control and governance.
Nomination Committee
The Nomination Committee is chaired by the Chairman of Jersey Post International Limited, with meetings also attended by at least three other non-executive directors. The responsibilities of this committee are numerous but focus heavily on the selection process for new board members, identifying and proposing any new Board appointments and proposing the responsibilities of the board members themselves.
Remuneration Committee
Chaired by Chris Evans, the primary role of the Remuneration Committee is to determine and agree the framework and policy for the remuneration of the Company’s Executive Directors.
Investment Committee
The Investment Committee comprises of three JPIL independent non executive directors and one JPIL executive director. This committee is primarily responsible for ensuring the executive function follow group investment policy and that all risks are prudently considered and managed by the executive. The committee makes sure that all JPID propositions are of ultimate benefit to, and in the best interests of, the Jersey Post Group and its shareholder the States of Jersey.