Committees

Committee	Composition	Function
Audit Committee	Four non-executive Board members and one external member	The Audit Committee assists the Board in its oversight of a number of key areas, including financial reporting, the independence and integrity of the internal and external control processes and compliance by the participating institutions with their contractual obligations to NAMA.
Credit Committee	Two non-executive Board members and five senior NAMA executives	The Committee operates under delegated authority from the Board which has ultimate responsibility for the credit risk of NAMA’s portfolio. In line with the credit policy approved by the Board, and subject to agreed portfolio limits, the Credit Committee is responsible for the approval or rejection of a certain range of credit applications. These are applications which fall below the level required for Board approval but exceed the credit approval authority which has been delegated to the NAMA CEO by the Board. The Committee must operate in a considered and timely manner in order to support efficient, credit-related decision-making on loans acquired by NAMA.
Risk Management Committee	One non-executive Board member, the CEO of NTMA, seven senior NAMA executives (including the NAMA CEO) and the NTMA Finance Director	The purpose of the Risk Management Committee is to embed and oversee the implementation of Board-approved risk management policies. The Committee is also responsible for the ongoing review and oversight of the risk profile of NAMA within the context of approved risk policy.
Finance and Operating Committee	Two non-executive Board members, four senior NAMA executives (including the NAMA CEO) and the NTMA Finance Director	The purpose of the Finance and Operating Committee is to monitor the financial and operational management of NAMA and its budgetary and management reporting and to exercise oversight of the procurement process and of certain key service providers.
Northern Ireland Advisory Committee	Four non-executive Board members, one senior NAMA executive and two external members	The Committee’s purpose is to advise the Board on the particular circumstances prevailing in the Northern Ireland property market and to advise in relation to strategy for Northern Ireland assets.
Planning Advisory Committee	Two non-executive Board members, two senior NAMA executives and two external members	The Committee advises the Board on planning, land and any related matters that may exert an influence on the valuation and realisation of NAMA assets and thereby affect the achievement of NAMA’s purpose and functions.