RBS 2012 Annual Report Download - page 119

RBS GROUP 2012
117
Risk governance*
The Group is committed to achieving the highest standards of corporate governance in every aspect of the business, including risk management.
A key aspect of the Group Board’s responsibility as the main decision-making body at Group level is the setting of Group risk appetite to ensure that the
levels of risk that the Group is willing to accept in the attainment of its strategic business and financial objectives are clearly understood.
To enable the Group Board to carry out its objectives, it has delegated authority to senior Board and executive committees, as required and appropriate.
A number of key committees specifically consider risk across the Group, as set out in the diagram below.
Notes:
(1) The following sub-committees report directly to the Group Asset and Liability Management Committee: Capital and Stress Testing Committee, Pension Risk Committee, Balance Sheet Management
Committee.
(2) The following sub-committees report directly to the Group Risk Committee: Global Market Risk Committee, Group Country Risk Committee, Group Models Committee, Group Credit Risk Committee
and Operational Risk Executive Committee. In addition, Divisional Risk Committees report to the Group Risk Committee. The Capital and Stress Testing Committee also provides monthly updates to
the Group Risk Committee, escalating issues as necessary.
*unaudited
Group Board
Group Board
Group Performance
and Remuneration
Committee
Group Board
Group Audit
Committee
Comprises independent
non-executive directors
Group Board
Board Risk
Committee
Group Board
Executive
Committee
Executive
Credit Group
Executive
Risk Forum
Divisional Risk and
Audit Committees
Group Asset and
Liability Management
Committee(1)
Group Risk
Committee(2)
Conduct Risk
Committee
Group Board
Group Sustainability
Committee