The CNA board has a Finance and Audit Committee (FAC) and a Governance, Human Resources and Compensation Committee (GHRCC). Board committees are established to facilitate the work of the board and are accountable to the board, which retains responsibility for the activities and decisions of committees. Board committees consist of three to five directors, one of whom serves as committee chair.
Finance and Audit Committee
Established for the purposes of the board’s oversight of the quality and integrity of the CNA’s financial reporting; the qualifications and performance of the external auditor; the CNA’s financial performance against its strategic plan; and additional financial matters as specified in their terms of reference. The committee also acts in an advisory capacity to management and the board on financial matters referred to it by the board or management.
Governance, Human Resources and Compensation Committee
Established for the purposes of: (a) developing and making recommendations to the board on CNA articles of incorporation, by-laws and corporate governance policies, guidelines and procedures; overseeing and administering director nomination, election, orientation and succession; and approving processes for evaluation of the board; (b) assisting the board with respect to oversight of human resources, including CEO recruitment, evaluation, compensation, and succession; and other significant workplace policies and talent strategies; and (c) overseeing the process of membership acceptance and making recommendations to the board regarding membership issues and structure.