Beverley Building Society is committed to best practice in corporate governance, complying with the Combined Code on Corporate Governance, issued by the Financial Reporting Council.
Day to day management of the Society is delegated to a team of senior executives led by the Chief Executive with oversight by an elected Board. The principal function of the Board is to determine the strategy and policies of the Society within an effective control framework, which enables risk to be assessed and managed. The Board ensures that the necessary financial and human resources are in place for the Society to meet its objectives and that business and management performances are reviewed. Furthermore the Board ensures that the Society operates within its constitution and relevant legislation and regulation and that proper accounting records and effective systems of control are established, maintained, documented and audited.
The Board has five Committees: the Audit & Compliance, Remuneration, Lending, Assets & Liabilities and Risk Committees. Further details of the activities of these committees can be found in the Corporate Governance pages of the Society's Summary Financial Statements.