RBS 2011 Annual Report Download - page 107

RBS Group 2011 105
Board/Committee Risk focus Membership
Group Audit Committee The Group Audit Committee reviews accounting policies and
practices, controls and procedures established by
management for compliance with regulatory and financial
reporting requirements and requirements of external
regulations. It has responsibility for monitoring relationships
with regulatory authorities. It operates under delegated
authority from the Group Board.
At least three independent non-executive directors, at
least one of whom is a financial expert as defined in
the SEC rules under the US Exchange Act and one of
whom is Chairman of the Board Risk Committee.
Group Remuneration
Committee
The Group Remuneration Committee is responsible for the
overview of the Group’s policy on remuneration and receives
advice from Risk Management and the Board Risk
Committee to ensure that there is thorough risk input into
incentive plan design and target setting as well as risk review
of performance bonus pools and clawback. It operates under
delegated authority from the Group Board.
At least three independent non-executive directors
Executive Risk Forum The Executive Risk Forum operates as a committee of the
Executive Committee with full authority to act on all risk and
control matters across the Group.
The Executive Risk Forum approves the most material limits
and decisions above defined thresholds and delegates
decisions below these thresholds to sub-committees and
appropriate individuals.
Group Chief Executive
Group Finance Director
Chief Administrative Officer
Chief Executive Officers of divisions
Head of Restructuring and Risk
Deputy Chief Risk Officer
Group Asset and Liability
Management Committee
The Group Asset and Liability Management Committee
(GALCO) is a sub-committee of the Executive Risk Forum
and is responsible for identifying, managing and controlling
Group balance sheet risks in executing its chosen business
strategy.
Group Finance Director
Group Treasurer
Chief Executive Officers of divisions
Head of Restructuring and Risk
Key Group Finance function heads
Global Head of Markets
Group Risk Committee The Group Risk Committee is a sub-committee of the
Executive Risk Forum. It is an oversight committee which
reviews and challenges risks and limits across the functional
areas and plays a key role exercising and demonstrating
effective risk oversight across the Group. It reviews risks and
issues on a thematic as well as a specific basis and focuses
on forward-looking, emerging risks. It considers the overall
risk profile across the Group and identifies any key issues for
escalation to the Executive Risk Forum.
Deputy Chief Risk Officer
Divisional Chief Risk Officers
Key Group Risk function heads