Composition
Consists of at least 4 INEDs
Major roles and functions
- To advise the Board on the Group’s risk appetite, profile and tolerance
- To oversee risk management framework to identify and deal with financial, operational, legal, regulatory, technology, reputational, information security and cyber risks, and strategic risks faced by the Group
- To review the Group’s risk policies, risk reports and breaches of risk tolerances and policies
- To consider current and emerging risks and risk exposures relating to the Group’s business and strategies to ensure that appropriate arrangements are in place to control and mitigate the risks effectively
- To review the effectiveness of the Group’s risk control/mitigation tools
and risk management functions
Operating mode
Meet at least 4 times a year with additional meetings as the work demands
Risk Committee Report
The work done during each year is summarised in the Risk Committee Report as contained in the annual report