The Board Charter governs the Board’s operations. It sets out the Board's role and responsibilities, composition, structure and membership requirements.
Audit and Risk Committee Charter
The Board established an Audit and Risk Committee, in compliance with section 45 of the Public Governance, Performance and Accountability Act 2013 (PGPA Act) and section 17 of the PGPA Rule and the duty imposed on the Board under section 16 of the PGPA Act, to establish and maintain a system of risk oversight and management. The committee’s role is to provide independent assurance to the Board.
Pursuant to section 17 of the PGPA Rule, the committee’s primary function is to review the appropriateness of the Board’s financial reporting, performance reporting, system of risk oversight and management, and system of internal control for NHFIC. The committee is not responsible for the executive management of these functions.
To complement its primary functions under the PGPA Rule, the Audit and Risk Committee:
- Makes recommendations to the Board on the appointment, assessment and removal of NHFIC’s internal auditors, and oversees their independence.
- Reviews and approves NHFIC’s external and internal audit fees, plans and their scope.
- Provides an effective forum for communication between NHFIC’s Board, management and internal and external auditors.
Bond Issue and Due Diligence Management Committee Charter
The primary responsibility of the committee is to:
- Assist the Board to execute on NHFIC’s strategy and achieve the optimal pricing on bonds issued by NHFIC in the wholesale debt capital market
- Optimise the use of funding sources for its AHBA loans business
- Optimise the investment of NHFIC’s capital and reserves and short-term surplus cash
- Manage NHFIC’s exposures to interest rate risk and liquidity risk.
Research Board Reference Committee
The primary responsibility of the committee is to assist the Board with the oversight and management of work undertaken by the research function in accordance with NHFIC’s Investment Mandate.
A key function of NHFIC is to provide finance to proponents eligible under NHFIC’s Investment Mandate. The committee is an advisory committee that has been established to assist the Board with objective oversight and management of credit risk arising from this key function.
Executive Risk and Compliance Committee
The Executive Risk and Compliance Committee acts as a forum for the discussion of significant risks and issues.
The committee reports to the Accountable Authority and the NHFIC Board Audit and Risk Committee, and is responsible for:
- identifying and monitoring significant risks to NHFIC
- maintaining and promoting NHFIC’s risk management frameworks and policies
- managing risks in line with those frameworks and policies
- implementing and overseeing control processes and risk mitigation strategies.
Customer Service Charter
At NHFIC we always aim to deliver high quality service, open and honest communication and we respect the confidentiality of the information provided to us.
In delivering high quality service, we will:
- Invest time to fully understand your business and its needs
- Use our industry knowledge and financing expertise to offer timely and tailored responses
- Act with professionalism and integrity.
Social and Sustainability Bonds Committee
The charter establishes and maintains a management committee which is responsible for:
- Administering and reviewing NHFIC’s Sustainability Bond Framework
- Evaluating and selecting eligible assets for inclusion in new social, green and sustainability bond issuances and ensuring these assets are aligned to the framework
- Reviewing and advising on NHFIC’s environmental, social and governance (ESG) disclosures and impact reporting
- Overseeing and advising on NHFIC’s ESG assurance activities related to NHFIC’s bond issuance program.
Records and Information Governance Committee
The charter assists NHFIC to establish best practices for information and data assets and to build a culture in which such assets are valued.
The committee directs all information and data matters and ensures it is consistent with other agency functions. It provides strategic support for operationalising practices to obtain the best business value from information.