Remuneration Committee
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Purpose
Remuneration Committee [RC] has delegated responsibility for setting remuneration for all of the Senior Management Team.
It recommends and monitors the structure of remuneration for senior management, ensuring that the arrangements support the strategic aims of the College.
The Remuneration Committee will ensure the appropriate remuneration of the Warden and the Senior Management Team. The Committee will take due account of the provisions of the College’s Financial Regulations, the Office for Students’ (OfS) guidelines, Committee of University Chairs (CUC) Code, other guidance which might be produced from time to time by bodies such as the University and College Employers Association (UCEA) or similar, and relevant legislation.
The Committee will abide by the minimum requirements of The Higher Education Senior Staff Remuneration Code as published by the CUC when carrying out its business.
The Remuneration Committee has authority to decide upon the following:
i. the remuneration associated with the office of the Warden, including any pension provisions and any other allowances and benefits.
ii. the remuneration including pension provisions and any allowances and benefits of Pro-Wardens and Heads of Schools but not with the contributions of any of these officeholders in respect of any *academic work which forms part of their duties.
iii. the remuneration including any pension provisions and any allowances and benefits of any other members of staff who are non-academic members of the Senior Management Team.
iv. any **severance payment to a member of the Senior Management Team.
Notes
In discharging its responsibilities, the Remuneration Committee:
1. will normally meet one time during the academic year, with additional meetings convened if required.
2. will take account of the context in which the College operates including its recruitment and retention needs, performance of the senior management team against annual objectives and the strategic aims and will also pay due regard to best practice expectations.
3. will consider equality, diversity and inclusion data as relevant to these Terms of Reference.
4. will provide an annual report to Council on the conduct of its business. In the interest of transparency, and in accordance with the requirements of external regulatory bodies, a summary report of the Committee’s business will be published and made available on the College’s website after the Committee has reported to Council.
5. as with all Committees of Council the Terms of Reference will be reviewed by the Committee on an annual basis.
6. may obtain external professional advice as necessary. The Committee may also request such other information as it might require in exercise of its remit.
The Warden is in attendance at Committee meetings as requested by the Chair of the Committee. The Warden is always absent from Committee meetings when their own pay is discussed and Chairing of the Committee is assumed by the Deputy Chair of the Committee for those discussions.
*Promotion or pay progression of Pro-Wardens and Heads of Schools in their capacity as members of the academic staff are dealt with by the appropriate Sub-Committees of the Human Resources Committee.
**The arrangements for officer action on behalf of the Remuneration Committee for the authorisation of severance payments shall be as specified in the Financial Regulations.