Wyelands Bank Plc Board independently manages the Bank and has elected to give due regard to the UK framework, the UK Combined Code, of Corporate Governance
Wyelands Bank recognises the importance of high standards of corporate governance.. The corporate governance of Wyelands Bank has evolved in order to provide a robust framework to govern the bank. Wyelands Bank operates within a high level controlled environment that is achieved through a unitary board composed of executive and non-executive directors with overall responsibility for the firm and implementation of its Strategy and Business Plan. The Wyelands Bank Board appoints a Chairman from amongst its non-executive directors to lead the Board.
Wyelands Bank’s Board meets at regular intervals and the Directors also have ongoing contact on a variety of issues between formal meetings. There are a number of standing and routine agenda items reviewed on a regular basis. These include a Chief Executive Officer’s report and financial, risk and operational reports.
Furthermore, the Board reviews and approves a suite of frameworks, manuals, policies and procedures which provide the Executive Team and other staff members with the Board’s operating and performance principles and against which the Board measures and monitors adherence. For example, the Board maintains Risk Management, Corporate Governance, Board Policy and Conflict of Interest Policies.
Under the regulatory supervision regime we meet the criteria of small bank.