The Risk Committee is chaired by Peter Shaw, and its other members are Martin Pike and Angela Seymour-Jackson. The Risk Committee, meet at least four times a year, or more frequently if required. The Risk Committee’s terms of reference state that the Risk Committee must comprise at least three independent non-executive directors, of whom at least one must have recent and relevant finance or risk management experience. The Board considers that each of Peter Shaw, Martin Pike and Angela Seymour-Jackson have recent and relevant experience. At least one member of the Risk Committee must also be a member of the Audit Committee.
Appointments to the Risk Committee are made by the Board. Appointments to the Risk Committee are for a period of up to three years and may be extended for further periods of up to three years, provided the director whose appointment is being considered still meets the criteria for membership.
The responsibilities of the Committee are to advise the Board on the Group’s risk strategy, risk policies and current risk exposures, including any prudential risks, overseeing the implementation and maintenance of the overall risk management framework and management systems, reviewing the Group’s risk assessment processes and capability to identify and manage new risks. The Committee’s Chairman reports formally to the Board on its proceedings after each meeting.
When appropriate, the Risk Committee will meet with the Group’s senior managers in attendance. The Risk Committee chairman will be available at the Annual General Meetings of the Company to respond to questions from Shareholders on the activities of the Risk Committee.
Download Terms of Reference