22 Aug Competence Profile of Board Remuneration Committee (REMCO)
We summarise an outline of a practical competence profile which can be adopted and used for appointment, development and evaluation of overall committee effectiveness. There is an appreciation that REMCO members might not have all the competences and experience, but as a collective would complement one another.[1] For an effective competence profile the REMCO position paper 8 recommended that broad categories as recorded in the table below be used: CATEGORY KEY CONSIDERATIONS KNOWLEDGE What people know – technical and/or professional information needed to perform job activities EXPERIENCE What people have done – practical application of knowledge COMPETENCES What people can do – a cluster of technical and behavioural competences required PERSONAL ATTRIBUTES What people are – personal dispositions and motivations that relate to job satisfaction, job success or failure KNOWLEDGE: This would include and not limited to the following: Internal and external challenges experienced and how they can be used to the advantage of the organisation. Governance matters and including King IV recommendations. ...