Objectives
The Remuneration Committee assists the Board of Directors. Its objective is to ensure that the Remuneration Policy of Alpha Services and Holdings and the Remuneration Policy of the Members of the Board of Directors:
- Are consistent with the values, culture, business strategy, risk appetite and strategic objectives.
- Align the interests of the executive leadership and Management with the long-term interests of Alpha Services and Holdings and its shareholders.
- Discourage excessive risk-taking and prevent the emergence of conflicts of interest.
- Maintain a fair and competitive variable remuneration structure.
- Comply with the applicable legislation and regulations.
- Are gender-neutral and support the equal treatment of staff, promote inclusiveness and respect diversity.
Moreover, the Remuneration Committee makes fair, balanced and sound judgments with regard to the remuneration of individuals who hold key positions in Alpha Services and Holdings, and provides guidance regarding the performance evaluation of its Executives.
Responsibilities
To accomplish its objectives, the Remuneration Committee:
- Provides support and advice to the Non-Executive Board Members on the design of the Remuneration Policies, so they are gender-neutral according to the relevant legislative and regulatory provisions, support the equal treatment of staff, promote inclusiveness and respect diversity.
- Recommends to the Non-Executive Members the remuneration of the Board Members.
- Is responsible for the preparation of decisions on remuneration to be taken by the Non-Executive Members, in particular regarding the remuneration of the Executive Board Members as well as other identified staff.
- Reviews the fixed salaries, benefits, total remuneration and variable remuneration framework.
- Supervises the process for the evaluation of senior executives and Key Function Holders.
Read more about the responsibilities of the Remuneration Committee in the Remuneration Committee Charter.
Composition and tenure
The Remuneration Committee is composed of Non-Executive Board Members, Independent in their majority, with a 4-year tenure.
The Committee includes:
- 1 Member of the Risk Management Committee and 1 Member of the Audit Committee to ensure proper sharing of information.
- At least 1 Member with sufficient professional experience in risk management.
The Committee Members possess collectively knowledge, skills and professional experience concerning remuneration policies and practices, risk management and control activities.
The Chair of the Remuneration Committee is an Independent Non-Executive Board Member. The Chair must have served on the Committee as a Member for at least 1 year.
