The Oddfellows’ Sub Board and Committee structure

There are a number of different Sub Boards and Committees within the Oddfellows, which include:

Audit, Risk & Compliance Committee (ARCC)

The ARCC is responsible for:
• Risk Management and Internal Controls
• Compliance and Prevention of Financial Crime
• Financial Reporting
• Internal Audit of Unity Offices in Manchester & Liverpool
• External Audit
• Whistleblowing

The overall role of the ARCC is to protect the interest of the members as regards the effectiveness of the Society’s internal control framework and appropriate management of risk and compliance, the integrity of the published financial information and the effectiveness of the Auditors.

Download the Audit, Risk & Compliance Committee's (ARCC) Terms of Reference.


Commercial Board

The Commercial Board is accountable to the Main Board for monitoring, controlling and directing the insurance business affairs of the Society, as well as the investments of Unity Office. This is in relation to each of the Society’s Long Term Business Funds and subject to matters reserved for the Board.

The responsibilities of the Commercial Board cover the tactical application and implementation of policy with respect to the following:

• Strategy and Management of the Society’s Long Term Business (LTB) Funds
• Operational Management of the LTB Funds
• Risk Management of the LTB Funds
• Compliance & Prevention of Financial Crime of the LTB Funds
• Finance
   o Asset strategy for Unity Funds and LTB
   o Appointment of External Investment Managers
• Unity Office; strategic matters regarding office premises in Manchester and Liverpool
• Society Rules and Procedural/Legislation of LTB Funds
• With Profits Advisory Arrangement

Download the Commercial Board & With Profits Advisory Arrangement's Terms of Reference.


Governance Committee

The Governance Committee considers aspects of the Society’s corporate governance and regulatory matters. Where appropriate it makes recommendations based on its deliberations and conclusions to the Board and Sub Boards. The Committee also acts as the Society’s Nominations Committee with regards the appointment of Member Elected Non Executive Directors and Term Directors.

Download the Governance Committee’s Terms of Reference.


Fraternal Board

The Fraternal Board is responsible for the tactical application of strategy and implementation of policy with respect to:

• Administering of Goods
• Administration and supervision of Branches
• Benevolence (Distress Grants, Educational/Apprenticeship Awards, H A Andrews Memorial Fund, Legal Aid Scheme, Convalescent Benefit)
• Recruitment and retention
• Branch delivery of social and care
• Branch training
• Public relations
• Management of relationships with third parties
• Group Conferences
• Society’s Publications
• Traditions of the Society
• Oddfellows Brass
• Risk Management
• Branch Internal Audit
• Branch Investments
• Oddfellows Halls
• Rules and Procedures
• Appointment of Deputations

The Fraternal Board is also responsible for the passing of resolutions in furtherance of the aims and directives of the Society’s strategy and in accordance with the policy of the Board.

Download the Fraternal Board’s Terms of Reference.


Remuneration Committee

The Remuneration Committee is responsible for:

• Determining and agreeing with the Board the framework or broad policy for remuneration of Directors
• Fulfilling duties as laid down by the Directors’ Remuneration Report Regulations 2002
• Performance reviews of Executive Directors
• Liaising with the Board in respect of succession planning for Executive Directors.

Annual performance reviews of the Executive Directors are undertaken by the Remuneration Committee, based on the objectives derived from the Society’s Strategic Plan.

The Committee reviews Executive Directors’ remuneration annually. It considers it is in the members’ interests for remuneration packages to be competitive in order to attract, retain and motivate people of the required calibre.

Download the Remuneration Committee’s Terms of Reference.