NCR is governed by an administrative board consisting of five experienced professionals of which two are characterized as independent directors (INEDs).
In accordance with the Norwegian Code of Conduct on Corporate Governance, the General Assembly of NCR has elected a nomination committee, whose main task is to propose candidates to the Board of Directors. The Board of Directors should be composed in such way to maintain the interests of shareholders and NCR’s need for competence and diversity.
NCR’s Board members are not directly involved in rating activities and have no insight into ratings information prior to its publication. The Board’s main task is to act as a control and support function of NCR’s tasks as a rating agency. The INEDs have additional focus on overseeing the following areas:
- Surveillance of the NCR’s rating policy.
- Effectiveness of the internal quality system in relation to NCR’s rating activity.
- Effectiveness of NCR’s compliance function.
- Effectiveness of NCR’s review function.