Under the Rhodes Trust's Governance Protocols, there are four committees of the Rhodes Trustees. Members may include individuals who are not Trustees. The committees are:

  • Finance and Investment Committee
  • Development Committee
  • Governance Committee
  • Audit and Risk Committee
  • Academic Committee

The full provisions for the committees are set out in the Governance Protocols.

FINANCE AND INVESTMENT COMMITTEE
Terms of reference: The Finance and Investment Committee advises the Trustees on all aspects of investment strategy, investment  risk management and controls, budgeting and financial statements
Responsibilities include:
1.   Advise the Trustees on investment strategy, objectives, and asset allocation
2.   Liaise with external asset managers (e.g., Oxford University Endowment Management Limited) to ensure effective asset allocation and investment
3.   Monitor performance, controls, and legal compliance
4.   Aid development efforts through explaining finance management, as needed
5.   Review the budget and monitor performance against it
6.   Recommend stipends and the level of other Scholar support in conjunction with the Scholarship Committee
7.   Assist in negotiating fee arrangements within the University of Oxford
8.   Ensure financial auditing annually
9.   Review investment and development activities
10. Ensure that appropriate risk assessment and modelling, risk management, and asset allocation techniques are in place and rigorously executed
11. Ensure all necessary policies are in place and up to date, and compliance measures are taken
Membership:
Mr Michael McCaffery (Pennsylvania & Merton 1975) – Chair
Sir John Hood (New Zealand & Worcester 1976) - Chair of Rhodes Trustees
Mr John Wylie (Queensland & Balliol 1983)
Matthew Brown (Australia-at-Large & Brasenose 2009)
Andrew Banks (Florida & St Edmund Hall 1976)
Dr Peter Stamos (California & Worcester 1981)
Charles Conn (Ex Officio)
Executive Officer: Mr Peter Anderson

DEVELOPMENT COMMITTEE
Terms of reference: The Development Committee will include Trustees, non-Trustees, and potentially other supporters of the Rhodes Scholarships who have demonstrated a strong commitment to the pre-eminence of the Scholarships and willingness to assist with fundraising efforts.  Its membership will include the previously-existing Global Steering Committee.
Responsibilities include:
1. Advise the Trustees and the Warden on development strategy and policy;
2. Participate in defining public messaging around capital campaigns, annual fundraising and the bequest programme;
3. Participate in defining alumni relations efforts;
4. Lead, oversee and assist in the solicitation of gifts from fellow Scholars and other potential donors;
5. Lead the fundraising efforts of the Trust through personal financial contributions, recruiting volunteers and monitoring overall execution of the development strategy.
For membership of the Development Committee, click here.
Executive Officer - Mr Alasdair Maclay

GOVERNANCE COMMITTEE
Terms of reference:
The Governance Committee advises the Trustees and the Warden on governance arrangements, Trustee and staff evaluations, related governance and management issues, and oversees the process of shortlisting for Trustee positions, including the Chair of the Trustees.
Responsibilities include:
1. Oversee the further refinement and review from time to time of governance arrangements, including relating to the role of the Trustees, Warden and National Secretaries;
2. Oversee process of nomination for positions as Trustees, including as Chair of the Trustees, and (in consultation with the Warden);

- Solicit nominations from alumni, Trustees and potentially others
- Compile shortlist based on nominations and the committee's own due diligence

3. Conduct Trustee evaluation;
4. Communicate responsibilities of being a Trustee to all Trustees;
5. Oversee outward communication of Trustee policies and developments;
6. Provide support, advice and feedback to the Warden

- Run an annual formal feedback process
- Facilitate ad hoc interactions with the Warden for advice and support

7. Facilitate process by which Warden and senior staff set annual key performance indicators;
8. Evaluate Warden's performance against established indicators;
9. Set Warden salary.
Membership:
Mr Dominic Barton (British Columbia & Brasenose 1984) – Chair
Dr John Hood (New Zealand & Worcester 1976) – Chair of Rhodes Trustees
Professor Margaret MacMillan
Dame Helen Ghosh
Charles Conn (by invitation, Ex Officio)
Executive Officer: Sarah Kleinman

AUDIT AND RISK COMMITTEE

Terms of reference: The Audit and Risk Committee completes the annual internal audit of Trust Finances and advises the Trustees on all aspects of risk management (eg. identification, mitigation and response.
Responsibilities include:
1. Agree the annual internal audit process to ensure all necessary policies and controls exist and are being effectively implemented
2. Agree the appointment of the external auditor, the mandate for the external audit, and receive the external audit report on behalf of the Trustees
3. Develop standardized risk reporting materials for the Trust
4. Complete annual risk review to ensure comprehensive risk identification and mitigation processes across risk categories (eg. financial, reputational, brand)
5. Report annually to Trustees regarding risk assessment across categories
6. Work with Finance and Investment Committee to ensure that appropriate risk assessment and modelling, risk management and asset allocation techniques are in place and rigorously executed
7. Develop specific response strategies to respond to risks as needed
Membership
Mr Glen James (Rhodes Trustee) - Chair 
Ms Karen Stevenson (Maryland/DC & Magdalen 1979)
Mr Andrew Banks (Florida & St Edmund Hall 1976)
Dr Andrew Graham (Rhodes Trustee)
Mr Giles Spackman (OUP Finance Director)
Charles Conn (by invitation, Ex Officio)
Executive Officer - Peter Anderson

ACADEMIC COMMITTEE

1.Members of the Academic Committee offer advice to the Warden and the Trustees on all aspects of what is necessary to ensure that the Rhodes Scholarship remains in perpetuity a scholarship of the highest quality and standing, as well as issues related to the Trust’s relationship with the University of Oxford and its divisions and departments and on matters relating to individual Scholars, including progression to DPhil
2. Members may offer proposals to the Warden concerning which degrees to finance, as well as on Scholarship numbers and distribution across program
3. Academic Committee members assist the Warden in monitoring performance of the Scholarship, and setting performance goals and indicators where appropriate
4. The Warden may seek advice from Academic Committee members on different personal and academic matters to assist in mentoring students
5. The Academic Committee shall meet on an ad hoc basis
Membership
Professor Margaret MacMillan (Rhodes Trustee) - Chair 
Professor Sir John Bell (Alberta & Magdalen 1975)
Dr Andrew Graham
Professor Dame Carole Robinson
Professor Ngaire Woods (New Zealand & Balliol 1987)
Charles Conn (Ex Officio)
Executive Officer - Mary Eaton