Remuneration Policy Statement

Alvar Financial’s Remuneration Committee (RemCo) members are members of the Board who are independent non-executive directors, ensuring an independent balance and challenge when considering remuneration. RemCo reviews its Remuneration Policy on an annual basis to ensure that it remains appropriate, relevant to the firm’s products and services, and meets the firm’s regulatory requirements for remuneration and its obligations to manage potential risks posed. The objectives which the firm promotes through its Remuneration Policy are:

To reward value-creating, competent and responsible conduct;
To support enhanced job satisfaction and performance;
To promote sound and efficient risk management;
To prevent conflicts of interest and ensure that the obligation of the firm and its staff to act in the best interest of its clients is not compromised;
To ensure that the basis of remuneration complies with applicable law and regulation.

Alvar Financial staff receive a competitive fixed remuneration package that is reviewed annually and benchmarked against the wider external market. In addition, Alvar Financial also operates a group wide discretionary variable pay structure based on established objective criteria, company financial performance and exemplary behaviours, to ensure remuneration outcomes do not encourage excessive risk-taking and that potential risk to the firm and its clients are appropriately managed.

The Remuneration Committee is responsible for determining the remuneration of the Executive Directors and other members of senior management. It also oversees the remuneration arrangements for functional heads and other Material Risk Takers (‘MRTs’), while providing broader oversight of remuneration practices across the wider workforce.