SECTION 1: BRC COMPOSITION

42 | Board Risk Committee Guide 8. Other Matters 8.1 New BRC members should be briefed by the Board/BRC Chairman on the BRC’s TOR. They should also be given an overview of the company’s risk governance structure, risk strategy and policy, risk management and internal control systems. 8.2 BRC members must, as soon as possible, on appointment and subsequently, attend in-depth training on risk governance; risk management and internal controls; high-risk areas of the company such as cyber security, and safety and health risks; risk management concepts and standards that apply to the company; and other developments that are within the scope of the BRC. This will equip them with the necessary knowledge and skills to discharge their duties effectively. 8.3 At least once a year, the BRC shall review its own performance, constitution and TOR to ensure that it is operating at maximum effectiveness and that they remain consistent with the Board’s objectives and responsibilities. The BRC shall recommend any changes which it considers necessary to the Board for approval.