The Big Society Capital governance structure includes a number of committees which have key roles.
Big Society Capital’s Board has two Committees comprising non-executive Board and external members with specific expertise:
The Audit, Risk and Compliance Committee, responsible for overseeing management processes and other arrangements to ensure the effectiveness of systems and controls, including risk management.The Nominations and Remuneration Committee, responsible for making recommendations concerning the appointment of directors (including the CEO) and setting levels of remuneration.
Big Society Capital has established three other operational committees:
Executive Committee Chaired by the CEO, responsible for the day-to-day running of Big Society Capital. The members of the Executive Committee are Big Society Capital’s CEO, Chief Financial Officer, Chief Investment Officer, Deputy Chief Investment Officer, Head of Strategy and Market Development, Head of Origination and Head of Engagement.
Investment Committee Chaired by the CEO or the designated Deputy Chair, responsible for making investments and for the performance of Big Society Capital’s portfolio of investments and reporting its activity to the board. All investments made over £10 million also require approval by the Board.
The Committee normally meets weekly on a Wednesday morning to discuss potential investments and pipeline.
Meet the investment committee
Valuation Committee Chaired by the CFO (who is not a member of the Investment Committee), responsible for determining valuations and assessing investment performance, including social impact. This includes identifying key risks and issues within Big Society Capital’s investment portfolio. The Chair of the Committee can go straight to the Chair of the Audit Committee with any concerns. Members of the Board and company auditors are invited to observe meetings of the Valuation Committee.
The CEO may establish an Advisory Board to advise on aspects of Big Society Capital’s strategy or activities. The Advisory Board is made up of individuals with specific interest and involvement in social investment, including prominent practitioners from the sector. The Advisory Board is a consultative committee with no decision-making powers. Its membership is approved by the Big Society Capital Board.