The Supervisory Board has five permanent committees: the Audit Committee, the Risk Committee, the Remuneration Committee, the Nomination Committee and the Corporate Governance Committee. All committees are by nature totally independent of ING. Each committee has its own charter, which you can download below. The charter describes the committee’s powers and duties and complies with applicable regulation, such as the US Sarbanes-Oxley Act.
The Audit Committee consists of at least four members and meets at least four times a year. The Audit Committee assists the Supervisory Board in monitoring the integrity of the financial statements of ING Group N.V. and ING Bank N.V., in monitoring the compliance with legal and regulatory requirements, and in monitoring the independence and performance of ING’s internal and external auditors.
The members of the Audit Committee are: Hermann Lamberti (chairman), Eric Boyer, Isabel Castellá, Carin Gorter and Robert Reibestein.
The Risk Committee consists of at least three members. The Risk Committee assists and advises the Supervisory Board in monitoring the risk profile of the company as well as the structure and operation of the internal risk management and control systems. The members of the Risk Committee are: Robert Reibestein (chairman), Eric Boyer, Carin Gorter, Hermann Lamberti and Jeroen van der Veer.
The Remuneration Committee is to comprise of at least three members and meets at least twice a year. The Remuneration Committee advises the Supervisory Board, among other things, on the terms and conditions of employment (including their remuneration) of Executive Board members and the policies and general principles on which the terms and conditions of employment of Executive Board members and of senior managers of ING and its subsidiaries are based. The members of the Remuneration Committee are: Henk Breukink (chairman), Joost Kuiper and Jeroen van der Veer.
The Nomination Committee convenes at least twice a year and consists of at least three members. The Nomination Committee advises the Supervisory Board, among other things, on the composition of the Supervisory Board and Executive Board. The members of the Nomination Committee are: Jeroen van der Veer (chairman), Henk Breukink, Isabel Castellá and Joost Kuiper.
Corporate Governance Committee
This Committee meets at least once a year. The Corporate Governance Committee assists the Supervisory Board in monitoring and evaluating the corporate governance of ING as a whole and the reporting thereon in the Annual Report and to the General Meeting, and advises the Supervisory Board on improvements. The members of the Corporate Governance Committee are: Henk Breukink (chairman), Carin Gorter and Jeroen van der Veer.