Barclays 2014 Annual Report Download - page 56

54 I Barclays PLC Annual Report 2014 barclays.com/annualreport
Area of focus Matter addressed Role of the Committee Conclusion/action taken
Citizenship The delivery of the 2015 Citizenship
Plan and development of a longer-
term Citizenship strategy
Q Assessed progress on the delivery
of initiatives against the Citizenship
Plan
Q Evaluated the level of ownership by
the business, including the degree
to which Citizenship was integrated
into business plans with clear
targets
Q The Committee was satisfied with the
progress of the Plan during 2014 and
noted the development of a revised
Citizenship Strategy, Barclays 2020
Ambition
Q It recommended that Citizenship
activity might be focused more on
initiatives connected to Barclays’
business, such as support for small
and medium enterprises
Read more about Barclays’ approach to
Citizenship on page 14.
In addition, the Committee also assessed and/or approved the
following matters in 2014:
Q The Compliance function’s business plan and key areas of focus for
2014;
Q Compliance Group Policies;
Q An update to The Barclays Way, the Group-wide code of conduct,
and the levels of attestation by colleagues globally;
Q The results of Barclays’ review of collections processes and
procedures conducted in tandem with the industry-wide thematic
review by the FCA of mortgage arrears handling;
Q The effectiveness of Barclays’ sanctions compliance programme,
particularly in view of Russian sanctions implemented in 2014;
Q The tax risk framework and performance against tax risk appetite
and the tax risk profile;
Q Barclays’ response to a PRA and FCA critical infrastructure and
technology resilience review;
Q Barclays’ plans for compliance with the Volcker Rule (restrictions on
proprietary trading and certain fund investments by banks operating
in the US);
Q The 2013 Citizenship Report for publication; and
Q The terms of reference of the Committee to ensure that it continued
to operate with maximum effectiveness.
Board Conduct, Operational and Reputational Risk, Committee
Allocation of Time (%)
123
4
52014 2013
1Citizenship 210
2Reputational Issues 710
3Culture, Conduct and Compliance 52 47
4Operational Risk 33 28
5Other 65
Read more about Barclays’ risk management on pages 123 to 140
and in our Pillar 3 report, which is available online at
barclays.com/annualreport
Governance: Directors’ report
What we did in 2014
Board Conduct, Operational and Reputational Risk Committee Report1