Experian 2015 Annual Report Download - page 64

Corporate governance report
Governance framework
Delegated
authority flow
Board
committees
Board
See Board section
which follows.
Principal subsidiaries
These are Group companies
to which the Board
has delegated certain
decision-making powers,
for example implementing
decisions agreed in
principle by the Board;
executive management
of the operations of the
Group within the strategy
and budget approved by
the Board; acquisitions
and disposals with a value
up to US$20m, and capital
expenditure projects.
Executive
management team
Operating businesses
Global Delegated Authorities Matrix
This key document comprises the schedule of matters reserved
to the Board, the Board committees’ terms of reference and
the authority levels for the Group’s principal subsidiaries,
directors and senior executives. For matters not reserved to
the Board, the matrix prescribes the cascade of authorities
delegated throughout the Group by respective Group
companies, together with their monetary limits. The matrix is
reviewed and refreshed regularly and the Board monitors the
exercise of delegations to the Group’s principal subsidiaries,
which are reported to it at each Board meeting. Regional
matrices are also in place.
Group Operating Committee
The Committee comprises the most senior
executives from the Group. Its remit includes
identifying, debating and achieving consensus
on issues involving strategy, growth, people
and culture, and operational efficiency. It also
focuses on ensuring strong communication and
co-operative working relationships among the
top team. Its meetings tend to be issues oriented
and focus on selected Group issues worthy
of debate.
Internal Audit
Internal Audit conducts a range of independent
audit reviews throughout the Group during the
year and is represented at each Audit Committee
meeting. Internal Audit’s plans, results and
key findings are presented to and discussed
with the Audit Committee. The internal audit
programme and methodology are aligned to the
risk categories and risk assessment parameters
established by the global risk management
function. It also makes use of risk assessment
information at a business level, in planning and
conducting its audits.
Strategic project committees
(global and regional)
These committees comprise the most senior global
and regional executives. Their remit is to oversee
a process to ensure that all strategic projects
are appropriately resourced, risk assessed and
commercially, financially and technically appraised.
Depending on the outcome of the discussions, the
committees’ conclusions are then considered by the
relevant Group company for approval.
Risk management committees
(executive, regional and global operations)
The Executive Risk Management Committee
comprises senior Group executives, including the
executive directors and the Company Secretary. Its
primary responsibility is to oversee the management
of global risks. The regional risk committees oversee
the management of regional risks, consistent with
Experian’s risk appetite, strategies and objectives.
Global operational risks, including technology and
project risks, are monitored by the Global Operations
Risk Management Committee.
Audit
Committee
See Audit
Committee report.
Nomination
and Corporate
Governance
Committee
See Nomination
and Corporate
Governance
Committee report.
Remuneration
Committee
See Remuneration
Committee report.
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62 Governance •Corporate governance report