Maintain a foundation of trust
Table of Contents
Obsessed with your success
Manage our impact responsibly
Supplemental reporting
Overview
Appendices
Corporate governance
We maintain the trust of our stakeholders through strong corporate governance practices supported by a Board of Directors with diverse experiences and perspectives. Our policies and practices foster ethical conduct, promote responsible business practices, and ensure CWB is governed with a focus to build long-term value for our stakeholders.
ABOUT OUR BOARD OF DIRECTORS
Canada, an organization that supports the goal of having 30% of corporate board positions held by women. In 2020, the President and CEO signed the BlackNorth CEO Pledge, committing CWB to specific actions and targets designed to end anti-Black systemic racism. With current director nominees, if elected, 60% of the Board will be comprised of women, surpassing the targets for women in both our Corporate Governance policy (target of 40%) and the 30% Club. Further, 20% of Board directors identify as Black, Indigenous or racialized persons, surpassing the targets in our Corporate Governance policy (target of 5%) and our BlackNorth CEO Pledge commitment, well in advance of the 2025 deadline. Strong governance practices Our Board works closely with management to ensure our governance approach incorporates evolving industry trends, regulatory expectations and global best practices. We ensure that our governance policies meet or exceed the requirements of our regulators. We consider, and where appropriate will adopt, new corporate governance best practices put forward by governance institutions, industry groups, and groups that represent the interests of our shareholders and other stakeholders.
Our Board’s primary responsibilities are to provide oversight of CWB’s risk appetite, culture, strategy, capital plans and key policies, and to provide challenge, advice and guidance to senior management. To fulfill its mandate, certain responsibilities are delegated to its standing committees, which include the Audit, Governance and Conduct Review (GCR), Human Resources (HR), and Risk Committees (collectively, the Committees). Effective Board composition Our Board is composed of independent directors and our CEO, who have diverse backgrounds and complementary experience and expertise to ensure robust oversight. During director recruitment and succession planning, the GCR Committee seeks out suitable candidates and assesses the potential candidate’s experience and expertise against the needs of the Board and its Committees. The GCR Committee uses an expertise and skills matrix to assess our directors and regularly analyzes whether the Board has the appropriate composition. Board diversity commitments On behalf of CWB, the Chair of the Board and the President and CEO have signed on as members of the 30% Club
CWB is actively working to promote inclusive and sustainable growth for our business, our clients, our people and the communities in which we operate. We are proud of the progress we have made to-date and are committed to support and engage with management as they continue to develop and implement CWB’s approach to sustainability.” - Sarah Morgan-Silvester Chair of the Board
11 2022 SUSTAINABILITY REPORT AND PUBLIC ACCOUNTABILITY STATEMENT
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