Risk Management Committee is the committee formed by board of directors to oversee the risk management policy and global risk management framework of the business.
Risk Management Committee will assist the Board of Directors in fulfilling its oversight responsibilities with regard to the risk appetite of the Corporation, the Corporation’s risk management.
It will have both NEDs and Executive directors also.
Risk Management Committee is the committee formed by board of directors to oversee the risk management policy and global risk management framework of the business.
Risk Management Committee will assist the Board of Directors in fulfilling its oversight responsibilities with regard to the risk appetite of the Corporation, the Corporation’s risk management.
The committee will include both executive and non-executive directors, with the majority being NEDs.
Executive directors are involved as they are responsible for the day-to-day operations and therefore have a more detailed understanding of the associated risks.
Benefits of Risk Committee:
– Oversee the risk management infrastructure
– Address risk and strategy simultaneously, including consideration of risk appetite
– Monitor risks
– Oversee risk exposures
– Advise the board on risk strategy
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