Bank of Montreal 2012 Annual Report Download - page 23

Download and view the complete annual report

Please find page 23 of the 2012 Bank of Montreal annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 193

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164
  • 165
  • 166
  • 167
  • 168
  • 169
  • 170
  • 171
  • 172
  • 173
  • 174
  • 175
  • 176
  • 177
  • 178
  • 179
  • 180
  • 181
  • 182
  • 183
  • 184
  • 185
  • 186
  • 187
  • 188
  • 189
  • 190
  • 191
  • 192
  • 193

20 BMO Financial Group 195th Annual Report 2012
CORPORATE GOVERNANCE
The board and its committees act independently. Every board and committee meeting
includes in-camera sessions without management present.
Our Governance Structure
Shareholders
ELECT
ELECT
REPORT
APPOINT
Board of
Directors Management
APPOINT
Shareholders’
Auditors
APPOINT
Disclosure Committee
Ensures accurate and timely public disclosure
Leadership Council
Aligns employees around enterprise
and group strategies
Management Committee
Sets and manages enterprise strategy
and performance
Performance Committee
Drives enterprise results and delivers
on corporate priorities
Reputation Risk Management Committee
Reviews significant risks to our reputation
Risk Management Committee
Oversees risk and governance at
the highest levels of management
Governance and
Nominating Committee
Human Resources
Committee
Risk Review Committee
Audit and Conduct Review Committee
Our compensation programs reflect best practices
Our director and executive compensation programs are
strongly aligned with governance best practices. They
are benchmarked to ensure they are competitive and fair.
Our pay-for-performance executive compensation model
includes clawbacks and discourages excessive risk-taking.
We have share ownership requirements because we
believe that when directors and executives own shares
they are motivated to act in shareholders’ best interests.
Our policies prohibit directors and employees from
hedging their economic interest in bank shares, securities
or related financial instruments.
Our board and management support open dialogue
and exchange of ideas with shareholders
As set out in our Shareholder Engagement Policy, we
communicate with shareholders in a variety of ways
including our annual shareholder meeting, the annual
report, management proxy circular, quarterly reports,
annual information form, news releases, website and
industry conferences.
Our website provides extensive information about
the board and its mandate, the board committees and
their charters, and our directors.
www.bmo.com/corporategovernance