RBS 2009 Annual Report Download - page 121

Business review
Risk, capital and liquidity management
119RBS Group Annual Report and Accounts 2009
The role and remit of these committees is as follows:
Committee Focus Membership
Group Audit Committee Financial reporting and the application of accounting Independent non-executive directors
(GAC) policies as part of the internal control and risk
assessment process. From a historical perspective,
GAC monitors the identification, evaluation and
management of all significant risks throughout
the Group.
Board Risk Committee A new committee, formed to provide oversight and advice At least three independent non-executive
(BRC) to the Group Board in relation to current and potential future directors, one of whom is the Chairman
risk exposures of the Group and future risk strategy. Reports of the Group Audit Committee
to the Group Board, identifying any matters within its remit in
respect of which it considers an action or improvement
is needed, and making recommendations as to the
steps to be taken. Provides quantitative and qualitative
advice to the Remuneration Committee upon the
Group Remuneration Policy and the implications for
risk management.
Executive Credit Group Formed to replace the Advances Committee and the Group Chief Executive
(ECG) Group Credit Committee, the ECG decides on requests Head of Restructuring and Risk
for the extension of existing or new credit limits on behalf Group Chief Risk Officer
of the Board of Directors which exceed the delegated Group Chief Credit Officer
authorities of individuals throughout the Group as Chief Executive Officer from each division
determined by the credit approval grid. The Head of Group Finance Director
Restructuring and Risk or the Group Chief Credit Officer
must be present along with at least one other member
to ensure the meeting is quorate.
Executive Committee A newly formed committee responsible for managing Group Chief Executive
(ExCo) Group wide issues and those operational issues material Business and function heads, as determined by the
to the broader Group. Group Chief Executive/Board
Head of Restructuring and Risk
Group Finance Director
Group Risk Committee Recommends limits and approves processes and major Head of Restructuring and Risk
(GRC) policies to ensure the effective management of all Group Chief Risk Officer
material risks across the Group. Group Head of each risk function
Group Head of Country Risk
Global Head of Risk Architecture
Deputy Group Finance Director
Chief Operating Officer, RBS Risk Management
Chief Executive and Chief Risk Officer
from each division
Group Asset and Liability Identifies, manages and controls the Group Group Finance Director
Management Committee balance sheet risks. Deputy Group Finance Director
(GALCO) Head of Restructuring and Risk
Chief Executive from each division
Group Chief Accountant
Group Treasurer and Deputy Group Treasurer
Chief Financial Officer, ABN AMRO
Director, Group Corporate Finance
Director, Group Financial Planning & Analysis
Head of Balance Sheet Management, Group Treasury
Executive Risk Forum Acts on all strategic risk and control matters across the Group Chief Executive
(ERF) Group including, but not limited to, credit risk, market Head of Restructuring and Risk
risk, operational risk, compliance and regulatory risk, Group Chief Risk Officer
enterprise risk, treasury and liquidity risk, reputational Group Finance Director
risk, insurance risk and country risk. Chief Executive Officer from each division
Note:
These committees are supported at a divisional level by a risk governance structure embedded in the businesses.