Our board and committees

The NS&I board consists of Executive and Non-executive Directors and representatives of HM Treasury. Seven members of the board also make up the executive committee.

View our annual report for more information on our board.

Annual Report

  • Ed Anderson – Non-executive Director and Chairman of the board
  • Ian Ackerley – Chief Executive
  • Peter Cornish – Director, Risk
  • Dax Harkins – Director, B2B
  • Jill Waters – Acting Director, Retail
  • Rodney Norman – Director, Finance
  • Mark Keene – Acting Director, Partnership
  • Sarah Tebbutt – Director, People and Strategy
  • James Furse – Non-executive Director
  • Sharmila Nebhrajani  OBE – Non-executive Director
  • Christopher Fisher – Non-executive Director
  • Mario Pisani – HM Treasury Representative

All appointments to NS&I’s board are made on merit. Political activity plays no part in the selection process. However, in accordance with the original Nolan recommendations there is a requirement for appointees’ political activity (if any) to be made public.

NS&I board responsibilities and terms of reference
NS&I board members register of interests

Organisational chart showing senior salaries

As part of the government’s transparency agenda NS&I has published an organisational chart showing the most senior salaries. This information will be updated to reflect any changes.

Organisational chart showing senior salaries

Directors’ expenses

NS&I staff members undertake their duties in line with the requirements of the Civil Service Code and Civil Service Management Code, which make clear that civil servants must make sure public money and other resources are used properly and efficiently.

NS&I has published the following information about NS&I Executive Directors and Non-executive Directors’ business expenses & hospitality. NS&I will continue to publish similar information on a quarterly basis.

 

 Audit and Risk Committee

The Audit and Risk Committee consists solely of Non-executive Directors. It is chaired by Ed Anderson and comprises Sharmila Nebhrajani and Christopher Fisher.

The main responsibilities of the Audit and Risk Committee are to assure the Accounting Officer and the board as to the adequacy of:

  • The strategic processes for risk control, governance and security within NS&I and processes outsourced to Atos
  • The accounting policies, accounts and annual report of NS&I
  • Internal and external audit plans and the results of this work along with the management’s responses to any issues identified
  • The system of internal control within both NS&I and Atos, including internal audit arrangements within NS&I and the NS&I account within Atos
  • Processes in place to ensure appropriate compliance with regulation
  • Anti-fraud policies, whistle-blowing processes and arrangements for special investigations

At the invitation of the Committee, the Chief Executive, Finance Director and Risk Director also attend, as well as the Head of Internal Audit, the Director from the National Audit Office (NAO) and a representative from the external audit partner (under the NAO’s framework agreement). All Directors have access to the minutes of the Audit and Risk Committee meetings.

Audit and Risk Committee terms of reference

Appointments and Remuneration Committee

The Appointments and Remuneration Committee comprises two Non-executive Directors; the Chief Executive and the Director of NS&I’s People & Strategy Directorate.

The committee reviews the Chief Executive’s recommendations on pay and performance-related awards to confirm that it is consistent with government policy and HM Treasury pay guidance. Agency performance measures are audited outcomes; individual performance objectives are assessed by the Chief Executive using appropriate measures of outcomes.

The committee also advises on the role and appointment of Executive NS&I board members. The committee reviews succession planning arrangements for senior staff within NS&I.

Appointments and Remuneration Committee terms of reference