The governance framework
Good governance in a bank is not a chart on a wall. It is a set of arrangements that make sure no single person can move money, change a control or take a risk without someone independent seeing it.
Our framework separates the people who take risk from the people who oversee it, and separates both from the people who audit whether the oversight worked.
The Board
Sets strategy and risk appetite, approves the annual plan and capital position, and holds executive management to account. Meets regularly and formally minutes its decisions.
Executive Committee
Runs the institution day to day within the mandate the board has set, and escalates anything outside it.
Risk Committee
Reviews credit, market, liquidity, operational and conduct risk against appetite, and challenges management on emerging exposures.
Audit Committee
Oversees financial reporting, the external audit, and the independence and findings of internal audit.
Three lines of defence
| Line | Who | What they are responsible for |
|---|---|---|
| First | The business — relationship, operations, engineering and product teams. | Owning the risks they create, operating controls day to day, and escalating issues. |
| Second | Risk and Compliance. | Setting policy and limits, independently challenging the first line, and monitoring adherence. Reports to the board, not to the business. |
| Third | Internal Audit. | Independently assessing whether the first and second lines actually work. Reports directly to the Audit Committee, with unrestricted access to records and people. |
Why independence matters
Second and third line functions do not report to the revenue-generating business. Their pay and objectives are set independently, so raising an uncomfortable finding costs them nothing.
Executive accountability
Each executive function carries a defined, documented accountability. Where regulation requires named individuals to hold specific responsibilities, those allocations are recorded and notified to the supervisor.
- Chief Executive
- Overall management of the institution within the board's mandate, and accountability for the culture that results.
- Chief Financial Officer
- Financial reporting, capital and liquidity management, tax and treasury policy.
- Chief Risk Officer
- The risk framework, independent challenge to the business, and the accuracy of risk reporting to the board.
- Chief Compliance Officer / MLRO
- Regulatory compliance, the financial crime framework, and the reporting of suspicion to the competent authority.
- Chief Technology Officer
- Platform resilience, change management, and the security of systems and data.
- Chief Operating Officer
- Service delivery, operational resilience, outsourcing oversight and customer operations.
Current appointments to these roles are confirmed in our published corporate information and are available on request.
How decisions are controlled
- Delegated authority is written down: every mandate states who may approve what, up to which limit, and what must be escalated.
- Credit decisions above defined thresholds require committee approval, not an individual signature.
- Payments and account changes separate the person who prepares from the person who releases.
- Material outsourcing and new products go through a formal approval process covering risk, compliance, security and operational readiness.
- Changes to production systems follow documented change control with review, testing and rollback plans.
- Conflicts of interest are registered, managed and — where management is insufficient — disclosed.
Risk appetite
The board sets an explicit appetite for each principal risk, expressed as limits rather than adjectives. Management reports actual position against those limits, and a breach is escalated whether or not it caused a loss.
- Credit risk
- Concentration limits by sector, counterparty and geography; affordability standards; provisioning policy.
- Liquidity risk
- Buffers held above regulatory minimum, stress-tested against defined scenarios.
- Operational and technology risk
- Availability targets, recovery objectives, incident thresholds and supplier concentration limits.
- Financial crime risk
- Prohibited activities, enhanced due diligence triggers, and zero appetite for knowingly facilitating financial crime.
- Conduct risk
- Customer outcome measures, complaint themes, and product governance review.
Reporting and transparency
- Financial statements are prepared under applicable accounting standards and independently audited.
- Prudential disclosures are published in accordance with the requirements that apply to us.
- Regulatory returns are submitted on schedule, with sign-off by a named accountable executive.
- Material incidents affecting customers are notified to the supervisor and, where required, to affected customers.
Challenge and escalation
A governance framework only works if people use it. Staff are expected to escalate concerns, and doing so is treated as good judgement rather than disloyalty.
Documents you may also need
Regulatory Information
How Prime Wealth Corporation Bank is constituted and supervised, how client money is treated, and the protections that apply to your deposits.
The InstitutionSustainability & Community
How Prime Wealth Corporation Bank approaches environmental impact, responsible lending, financial inclusion and the communities we operate in — with the limits of what we can currently evidence stated plainly.
GovernanceReport Misconduct
A confidential channel for reporting suspected wrongdoing at Prime Wealth Corporation Bank — open to staff, customers, suppliers and anyone else, with protection against retaliation.
This document was last updated on 1 August 2026. We publish the current version here at all times; superseded versions are available on request.
If anything on this page is unclear, write to us and we will explain it.