Governance & accountability
Nationwide is committed to best practice in corporate governance and complies with the Combined Code issued by the Financial Reporting Council. Nationwide is regulated by the Financial Services Authority.
The following is a brief summary of key elements. Full details are available on our Corporate Governance web pages.
Board of Directors
Nationwide is run day to day by a senior management team overseen by an elected Board of Directors, which delegates authority to three principal committees: Audit, Nomination and Remuneration Committees.
Board member responsibility for individual sustainability issues are outlined below:
| Issue | Board member | Job title |
|---|---|---|
| Workplace-occupational health and safety | Graham Beale | Chief Executive |
| Workplace-employee issues | Graham Beale | Chief Executive |
| Human Rights | Graham Beale | Chief Executive |
| Marketplace-customers/consumers | Stuart Bernau | Retail Director |
| Marketplace-supply chain | David Rigney | Group Operations Director |
| Environment | Tony Prestedge | Group Development Director |
| Community | Tony Prestedge | Group Development Director |
Overall responsibility for our approach to sustainability rests with the Group Development Director.
The Executive Directors' Committee
The Executive Directors' Committee directs and co-ordinates the management of the business within the strategy, policies, objectives, frameworks and authority approved by the Board.
back to topRisk management
Nationwide seeks to manage appropriately all the risks that arise from its activities. Social and environmental criteria are built into our risk evaluation systems and structures, which include detailed risk policy statements, risk functions within the Risk Management Division, and a new committee structure as of April 2007 to strengthen management and oversight of risk within the Group.
Sustainability management
Key elements are:
- Sustainability Committee, which reports to an Executive Director and comprises senior managers from across the business
- Community and Environmental Affairs team, which manages, measures and reports economic, social and environmental impacts
- Sustainability Action Group set up to deal with specific issues and comprising members of the Sustainability Committee and relevant business areas
In addition, we have defined specific environmental management responsibilities, which cover our core business operations.
Accountability
As a modern mutual, we are ultimately accountable to our members. To view the minutes of our 2007 AGM click here.
Political donations
Nationwide maintains a position of strict impartiality regarding party politics. We do not contribute funds to any political party or political candidate. However, we do attend events such as party conferences in order to understand more fully the implications of policy development on our business operations.