Governance

The Chief Executive reports directly to the Minister for Finance on the NTMA's funding and debt management, State Claims Agency and NewERA functions. Funding and Debt Management and State Claims Agency functions have been delegated to the NTMA by Government or Ministerial Order. NewERA has been established initially on a non-statutory basis. Under the legislation which established the NTMA, it does not have a board and it is the Chief Executive’s statutory responsibility to carry on and manage and control generally the administration and business of the Agency. The legislation provides for an over-arching Advisory Committee to assist and advise the NTMA on such matters as are referred to the Committee by the NTMA and also for a State Claims Policy Committee to provide advice on policy and procedures relating to the performance of its State Claims Agency functions. The NPRF, the NDFA and NAMA each have their own board. The NTMA acts as the executive in respect of the NPRF and the NDFA. In the case of NAMA it assigns staff to NAMA and also provides it with business and support services and systems

The NTMA Advisory Committee consists of seven members appointed by the Minister for Finance.

• David Byrne – Chairperson
  David Byrne is a former European Commissioner for Health and Consumer Protection and a former Attorney General.
• Hugh Cooney
  Hugh Cooney has worked with a number of major professional and advisory firms including Stokes Kennedy Crowley, NCB Corporate Finance, Arthur Andersen and BDO Simpson Xavier. Since his retirement from practice he is a consultant with KPMG and a Company Director.
• Brendan McDonagh
  Brendan McDonagh is currently Executive Chairman Designate of the Bank of N.T. Butterfield & Son Limited, Hamilton, Bermuda. He is a former CEO of HSBC North America Holdings Inc with responsibility for the Group’s banking and consumer finance operations in the US and Canada. He was also Group Managing Director for HSBC Holdings Inc and a member of the HSBC Group Management Board.
• John Moran
  John Moran is Secretary General of the Department of Finance.
• Tytti Noras
  Tytti Noras is Legal Counsellor, Financial Markets Department, Ministry of Finance, Finland and a Member of the Board of Directors of the European Investment Bank and the European Investment Fund.
• Donald C Roth
  Donald C Roth is Managing Partner of EMP Global LLC and former Vice President and Treasurer of the World Bank.

There is currently one vacancy on the Committee.

The Advisory Committee formally advises the Chief Executive on a specified list of issues on an ongoing basis. This list is based on those matters that would normally be reserved for decision by a board and is as follows:

1. Funding and Debt Management Policy;
2. Business Function Goals and Objectives;
3. Delegated Authority Levels;
4. Remuneration;
5. Senior Management Performance Appraisal and Succession Planning;
6. Significant Amendments to the Pension Benefits of Staff;
7. Corporate Policies and Plans;
8. Risk Management Policy;
9. System of Internal Financial Control;
10. NTMA Annual Report and Accounts;
11. Appointment of Internal Audit Firm;
12. Oversight of Audit Committee (including annual review of Committee terms of reference);
13. Operating Budget; and
14. Compliance by the NTMA with Statutory and Regulatory Requirements.

Codes of business conduct are in place for NTMA Advisory Committee members and employees. The codes underscore the NTMA's commitment to the highest standards of conduct. While it is not possible for a set of rules or guidelines to provide for all situations that may arise, Committee members and employees are expected to ensure that all their activities are governed by the ethical standards reflected in the relevant code. A separate code has been prepared for employees assigned to NAMA reflecting specific requirements of the NAMA Act.

Code of Conduct for Members of the NTMA Advisory Committee

Code of Practice on Confidentiality and Professional Conduct for NTMA Employees (ex NAMA).

Code of Practice – Conduct of Officers of NAMA