i. To agree and oversee the annual remuneration process for senior staff (i.e. grade 10 and above).
ii. To review and agree the University's reward policy for senior staff, designed to support a high performance culture and taking account of pay data, market factors and the financial position of the University and recommend major changes to Council.
iii. To review and determine senior staff remuneration.
iv. To review senior staff equal pay issues.
v. To review and determine pay and reward for the Vice-Chancellor's direct reports on UEB; review reports on the Vice-Chancellor's objectives and performance, and review and determine the Vice-Chancellor's remuneration.
vi. To agree severance packages for staff earning in excess of £100k per annum:
- where the severance payment is up to 12 months’ salary (and so within the University’s long-standing arrangements for Voluntary Severance), the payment will be approved by the Chair on behalf of the Committee and reported to the next meeting of the Committee;
- where the severance payment is above 12 months’ salary, the payment will be considered by the Committee, which can be by circulation if the case needs agreement between Committee meetings.
vii. To monitor strategic risks relevant to the work of the Committee as determined by the Strategic Risk Register.
viii. To monitor the extent to which value for money is achieved within the areas under the Committee's oversight.
ix. To monitor relevant Key Performance Targets and to ensure that any concerns with performance against these KPTs are addressed.