Barclays 2003 Annual Report Download - page 40

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Risk Management
Risk Management and Control – Overview
Group Risk Governance Structure
Board oversight Board
Board Audit Committee
ASSURANCE
• Reviews the effectiveness of risk
management Standards.
• Reviews reports on control issues of
Group level significance.
• Approves the Group risk governance
framework and principles.
• Approves risk management Standards.
• Approves overall Group risk appetite.
• Reviews the Group risk profile.
• Authority
• Standards
• Appetite
Board Risk Committee
Assurance Group Internal Audit
(including Credit Risk Review)
• Assesses compliance with the system
of internal control.
• Assesses management assurance
processes.
• Reviews the application of credit risk
policies, procedures and processes
and their consistency with business
decisions and strategy.
REPORTING
Management
performance
Group Chief Executive
Group Executive Committee
Group Governance
and Control Committee Group Treasury Committee
• Reviews the completeness and
effectiveness of the Group risk
governance and control framework.
• Monitors compliance with the risk
governance framework.
• Ensures that principal controls are
consistent with risk management
Standards.
• Reviews reports of the management
assurance process over adequacy and
effectiveness of internal controls.
• Monitors the Group’s liquidity and
maturity mismatch.
• Monitors usage of regulatory and
economic capital.
• Reviews policy/controls for liquidity,
maturity transformation and structural
interest rate exposure.
• Debates and agrees actions on the risk
profile, strategy and key controls
across the Group.
• Ensures consistency with Group risk
appetite.
• Considers issues escalated by Risk type
heads.
• Monitors and manages risk adjusted
performance of strategic business units.
• Approves economic capital allocations.
Group Risk Oversight Committee