The purpose of the Committee is to ensure that the remuneration and reward package offered to all staff, Board members and advisers is reviewed and amended appropriately.
- The Committee shall be appointed by the Board on an annual basis and shall consist of no fewer than three members.
- The Board will appoint the Chair of the Committee, who shall not be the Chair of the Board.
- The members will be appointed by the Board and will consist of at least one elected member and one appointed member.
- The quorum of the Committee shall be two members.
- The Committee will meet at least annually or as necessary. Additional meetings can be called by the Committee Chair at any time, giving 14 days’ notice.
- Meetings of the Committee shall be minuted and submitted to the Board. Minutes will be placed in the open session of the Board, unless confidential matters were discussed which would necessitate the minutes being placed in the confidential session of the Board.
- The Registrar shall attend meetings, but will not be in attendance whilst discussion takes place relating to his/her own remuneration and reward package.
- At the request of the Committee, members of the Executive shall attend meetings.
- At the request of the Committee, external advisers shall attend meetings.
- To determine the principles and policies governing the pay and reward of ARB’s staff.
- To consider and agree changes to those principles and policies, as appropriate.
- To determine the appropriate means of relating performance and reward.
- To receive an annual report on how the policies governing pay and reward are being adhered to.
- To review the performance of advisers retained to advise the Board on benefit provisions.
- To receive and consider evidence of movements in the external pay and reward market affecting the recruitment and retention of ARB’s staff, which may include an external review of the pay and reward package offered.
- To consider and determine the pay and reward package of the Registrar/Chief Executive.
- To consider and determine the pay and reward package of the Deputy Registrar.
- To consider and agree the annual cost of living increase awarded to staff.
- To review and recommend to the Board annually the remuneration of Board members, panel members and advisers, including travel and subsistence payments.
- To provide an annual Remuneration Report to the Board.
- The Committee shall undertake any other matters as requested by the Board from time to time.
The Committee will submit an annual report to the Board on its work.