Board Risk Committee Guide

Contents Foreword v How to Use This Guide vii Abbreviations ix SECTION 1: BRC COMPOSITION 1 1.1 Introduction 1.2 Board Structures for Risk Governance 1.3 BRC Structure and Authority 1.4 Management-Level Risk Oversight 1.5 BRC Terms of Reference 1.6 Independence and Objectivity 1.7 Role of NC in BRC Appointments 1.8 Selection of BRC Members 1.9 Selection of BRC Chairman 1.10 Tenure of BRC Members SECTION 2: BRC AGENDA 43 2.1 Introduction 2.2 BRC Calendar 2.3 Meeting Agenda 2.4 Conduct of Meeting 2.5 Training SECTION 3: RISK UNIVERSE 61 3.1 Introduction 3.2 Risk Context and Environment 3.3 Strategic Objectives and Risks 3.4 Risk Definitions and Characteristics 3.5 Risk Categories 3.6 Strategic Risks 3.7 Financial Risks 3.8 Operational Risks 3.9 Information Technology Risks 3.10 Compliance Risks 3.11 Other Risks