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Board effectiveness evaluation and training

Board and Committee evaluation

The effectiveness of the Board, individual directors and the Board’s main committees are reviewed annually, with an externally facilitated review every three years as required by the UK Corporate Governance Code.​ The results of these reviews are contained within Section B of the Annual Report.

Individual performance

The Chairman appraises the performance of the non-executive directors, identifying any development opportunities or training needs. The Senior Independent Director leads the review of the performance of the Chairman with the other non-executive directors, taking into account the views of the executive directors. The performance of the Chief Executive is also appraised by the Chairman. The performance of the other executive directors is appraised by the Chief Executive in conjunction with the Chairman. The results of these appraisals are presented to the Remuneration Committee for consideration and determination of remuneration. At each AGM the Chairman confirms, when proposing the re-election of any non-executive director, that following formal performance evaluation, the individual’s performance continues to be effective and demonstrates commitment to the role.

Learning and development

At the end of September 2018, a Learning and Development framework was endorsed for the Board. As this is embedded during the year ending 30 September 2019, learning and development plans for each board member based on an agreed skills matrix will be fully established and enhanced. The matrix considers the competency level for each director based on a broad range of skills, scoring the skills and then building a tailored development programme. The skills that form the matrix include helping to develop strategy; ensuring that the Group is acting in a prudent manner; and for a director who is chairman of a committee, fostering an open, inclusive and challenging discussion as well as facilitating independent oversight. This framework will support the work of the Nomination Committee and the Chairman in developing the future structure of the Board. Further information can be found in Section B3 of the Annual Report.

Paragon Banking Group PLC.  Registered in England number 2336032.  Registered office 51 Homer Road, Solihull, West Midlands  B91 3QJ.