Corporate governance
Strategy for success
The Virgin Money UK PLC (VMUK) Board is committed to achieving long term success for VMUK through delivery of its strategy. The strategy is underpinned by high standards of corporate governance.
VMUK operates within a corporate governance framework, which aligns to the UK Corporate Governance Code published by the Financial Reporting Council.
Key documents and policies
Key documents and policies which form part of the corporate governance framework and highlight VMUK's commitment to corporate governance are set out below.
VMUK Board charter
VMUK is governed by a Board of Directors. Information on the authority, role, responsibilities, structure, composition and meeting procedures of the VMUK Board of Directors, and of the VMUK Board’s oversight of its subsidiaries, is set out in the VMUK Board Charter. The VMUK Board Charter also describes matters which are reserved for the VMUK Board.
VMUK Board Committees
The VMUK Board may from time to time establish committees as it considers necessary or appropriate to assist the VMUK Board in carrying out its responsibilities. The charter for each committee sets out the authority, role, responsibilities, composition and meeting procedures of the committee.
As required, the VMUK Board may also establish sub-committees to assist the VMUK Board in the oversight of specific areas that may require more detailed attention.
- VMUK Audit Committee Charter Link opens in a new window
- VMUK Risk Committee Charter Link opens in a new window
- VMUK Governance and Nomination Committee Charter Link opens in a new window
- VMUK Remuneration Committee Charter Link opens in a new window
Financial crime
We’re committed to preventing financial crime, including money laundering, sanctions, bribery and fraud. Find out more in the following documents.
- Patriot Act Certificate Link opens in a new window
- Wolfsberg Group Correspondent Banking Due Diligence Questionnaire Link opens in a new window
Internal audit
The Internal Audit Charter sets out the purpose, scope, activities and responsibilities of VMUK's Internal Audit function, along with the organisational framework within which it operates.
External audit
On 19 March 2024 Virgin Money’s auditors, PricewaterhouseCoopers LLP, gave notice that they would be resigning with effect from 19 March 2024. The statement of reasons in connection with PricewaterhouseCoopers LLP’s resignation, provided in accordance with section 519 of the Companies Act (Section 519 Statement) is below.