Enterprise governance and compliance
Nedbank Group has adopted an enterprise governance framework that covers both the corporate governance and business governance aspects of an organisation. It encompasses governance structures that are strategically linked with performance management, enabling companies to focus on the key areas that drive their business.
Enterprise governance and compliance constitute part of the entire accountability framework of the organisation, and require a balance between accountability and assurance (conformance) and value creation and resource utilisation (performance).
Conformance includes corporate governance and covers issues such as board structures and roles, and executive remuneration. Performance includes business governance and focuses on strategy and value creation, enabling the board to:
- make strategic decisions;
- understand its appetite for risk and the key drivers of performance; and
- identify key principles of decisionmaking.
In tandem with management of governance issues, the compliance function ensures compliance not only with regulatory laws and standards, but also with internal policies and procedures.
The Chief Governance and Compliance Officer, Selby Baqwa SC, is a member of the Group Executive Committee (Group Exco), reports directly to the Chief Executive and attends the board and board committee meetings by invitation. He also has direct access to the Chairman of the Nedbank Group and Nedbank Boards.
A strong network of divisional governance and compliance officers works closely with the central Enterprise Governance and Compliance Division in training, project implementation and monitoring, as well as the creation of an appropriate governance and compliance culture.
Click here to read the full Enterprise Governance and Compliance report in the 2007 Nedbank Group Annual Report.
| This page was updated on 21 August, 2008 |  Return to top |
For Nedbank products, services and branch details please visit www.nedbank.co.za.