The College is governed in accordance with its Statutes, which are approved by the Privy Council, and more detailed By-Laws as approved by the Governing Body. All full Fellows of the College are members of the Governing Body, which meets on average five times a year: once each term to deal with general matters, and twice a year to elect new Fellows. The College has a number of committees which report to the Governing Body. The most important standing Committees are:

• The General Purposes Committee, which oversees all other committees and all general matters;
• The Academic Purposes Committee;
• The Estates and Finance Committee;
• The Audit Committee;
• The Library Committee;
• The Domestic Committee;
• The Visiting Fellowship Committee;
• The Benefices Committee.

The Warden and main College Officers are ex officio members of all Committees except for the Audit Committee; otherwise members are elected. All Fellows are eligible to serve on all Committees. The Warden normally chairs all main Committees but the Audit Committee has an external chair. 

Important Sub-Committees include those for Investments, Property, and Computing. There is also a Remuneration Committee, which gives independent views on remuneration matters. Each year two Fellows (called Financial Delegates) who are also members of the Audit Committee have a special responsibility to scrutinise the financial affairs of the College.