Directors’ Report
3. ClearView Wealth’s Remuneration Strategy, Policy and Framework
3.1 Remuneration Policy ClearView’s Remuneration Policy ( Policy ) was updated in 2023 and is compliant with the obligations set out by the Australian Prudential Regulatory Authority ( APRA ) under Prudential Standards CPS 510 ‘Governance’, CPS 511 ‘Remuneration’ and SPS 510 ‘Governance’. It also forms part of ClearView’s overall Risk Management Framework (in accordance with the Prudential Standards). The Board has approved the Policy and retains overall responsibility for all remuneration decisions in respect to persons relevant to each entity. The Policy is reviewed at least once every three years to ensure ongoing compliance with regulatory changes as more information becomes known and the changes are due to take effect. ClearView has an established Nomination and Remuneration Committee ( Remuneration Committee ) which, among other things, is responsible for overseeing the remuneration and human resource practices for the Group. In discharging these responsibilities, the Remuneration Committee adheres to ClearView’s Remuneration Policy, which is in place to:
• Outline employee obligations and ClearView’s obligations; • Set out roles, responsibilities and accountabilities of the KMP; • Set out clear reporting and controls; • Define various terms to ensure a common understanding; and • Clarify what happens if this policy or associated procedures are breached.
3.2 KMP Remuneration Governance Framework
The following outlines the interface between the Remuneration Governance Framework and the Risk Framework:
Board
Delegation
Delegation
Accountability
Independent Assurance
Managing Director
Legal or other professional advice
External Auditors
Internal Audit
Delegation
Accountability
Assurance, Oversight through Reporting
Senior Management Team
Audit Committee
Nomination and Remuneration Committee
Risk and Compliance Committee
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ClearView Annual Report 2024
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