Barclays 2006 Annual Report Download - page 75

Barclays PLC
Annual Report 2006 71
Operating review
1
Risk management – overview
Risk responsibilities
The Board approves Risk Appetite and the Board Risk Committee monitors the Group’s risk profile against this appetite.
• Business Heads are responsible for the identification and management of risk in their businesses.
• The Risk Director, under delegated authority from the Group Chief Executive and Group Finance Director, has responsibility for ensuring effective
risk management and control.
• Each business has an embedded risk management team reporting to a Business Risk Director or Chief Credit Officer who reports to the Risk
Director. The risk management teams assist Group Risk in the formulation of Group Risk policy and the implementation of it across the businesses.
• Risk-Type Heads and their teams are responsible for establishing a risk control framework and risk oversight.
• Business risk teams, each under the management of a Business Risk Director, are responsible for assisting Business Heads in the identification
and management of their business risk profiles and for implementing appropriate controls.
• Internal Audit is responsible for the independent review of risk management and the control environment.
Internal Audit
Group Board
Group Chief Executive
Group Finance Director
Business Heads
Divisional Chief Executive Officers
Risk Director
Business Risk Directors or
Chief Credit Officers
Risk-Type Heads
Corporate/ All
Retail Wholesale Market Operational other
Credit risk Credit risk risk risk risks
UK Banking ✓✓✓✓✓
Barclays Capital x✓✓✓✓
Barclaycard ✓✓✓✓✓
International Retail and
Commercial Bank ✓✓✓✓✓
Barclays Wealth ✓✓✓✓✓
Barclays Global Investors x✓✓✓✓
Business Risk Directors