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Committees

Committees are an important part of the governance structure. They act as advisory forums for decisions related to a number of key areas.

Norges Bank Investment Management

The committees consist of selected members of the leader group  and other specialist personnel where relevant.

As the committees represent a core component of risk management activities, the Chief Compliance Officer is mandated to chair all meetings with a secretariat function facilitating the distribution of meeting material and calling both the standard meetings, which generally occur quarterly, and extraordinary meetings which are usually called to cover current topical events.

Investment Risk Committee

The Investment Risk Committee acts as an advisory forum for the review of investment risks, including market, credit and counterparty risks, and the development of Norges Bank Investment Management's framework for the management of these risks.

Investment Universe Committee

The Investment Universe Committee acts as an advisory forum for the development of Norges Bank Investment Management's instrument universe, including approved instruments, countries and markets.

Investment Ownership Committee

The Investment Ownership Committee acts as an advisory forum for the review of strategies related to responsible investment structured around standard setting, ownership and risk management.

Business Risk Committee

T​he Business Risk Committee acts as an advisory forum in the review of operational risks and for the development of Norges Bank Investment Management’s governance model, including policies and guidelines and the operational risk management framework.

Valuation Committee

The Valuation Committee acts as an advisory forum for the development of models and methods for the valuation of assets, together with oversight of the quarterly valuation process.

Compensation Committee

The Compensation Committee acts as an advisory forum for the remuneration system in Norges Bank Investment Managment.

Norges Bank Real Estate Management

Norges Bank Real Estate Management's committees act as advisory forums for the Chief Executive Officer in the decision making process related to business activities and processes. The committees consist of the leader group, and specialist personnel when invited by a committee member. The committees are chaired by the Chief Compliance and Control Officer, and the Head of Corporate Counsel is responsible for the secretariat function. The Chair sets the agenda together with the Chief Executive Officer, while the Secretariat is responsible for calling meetings, distributing agendas and meeting material, taking minutes and the general administration relating to the committees.

Business Risk Committee

The Business Risk Committee acts as an advisory forum for the governance and control of  business activities, the review of operational risks, and on the further development of the governance model, operational risk management and internal control framework.

Real Estate investment Committee

The Real Estate Committee acts as an advisory forum for unlisted real estate investments, including advice on governance and risk analysis to support private market transactions.

Investment Risk Committee

The Investment Risk Committee acts as an advisory forum for review of overall real estate investment risks and the development of the framework for the management of these risks.

Valuation Committee

The Valuation Committee acts as an advisory forum for valuing the private real estate assets, including advising on the development of policies, models and methods for valuation of real estate assets.