Company: BCS
Filing Date: 2025-02-13
Form Type: 20-F
Source: 0000312069-25-000114
Chunk: 142

Company: BARCLAYS PLC
Filing Date: 2025-02-13
Form: 20-F
Chunk 142
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avery Statement. &uuml; Approved an updated Barclays Group Statement on Human Rights. Strategy &#9; &#9; &#9; Topic Board activity Risk, resilience and recovery and resolution &#9; &#9;&#9;&#9;&#9;&#9; Topic Board activity Risk profile &#8226; Considered the Group&#8217;s risk profile and emerging risks in the context of the macroeconomic, regulatory and geopolitical outlook. &#8226; Considered risk appetite in the context of Barclays' strategic plan and MTP. &#8226; Received updates on financial crime risk. &#8226; Received updates on Barclays' principal risks, including reputation risk and the Group&#8217;s approach to reputation risk management. Key decisions &uuml; Approved Barclays&#8217; Risk Appetite Statement. &uuml; Approved updates to the Enterprise Risk Management Framework (ERMF) for the Group, including the elevation of financial crime risk to a principal risk which took effect on 1 January 2025. &uuml; Approved updates to the Matters Reserved to the Board and Committee terms of reference to clarify the responsibilities between the Board and the Board Risk Committee in respect of the oversight of reputation risk. Resolution and recovery &#8226; Received a briefing on the key findings from the Bank of England&#8217;s second Resolvability Assessment Framework assessment and updates on activities to enhance the Group&#8217;s resolvability arrangements, including management's testing and assurance plans. &#8226; Considered the Group Recovery Plan setting out the options available to execute in a severe financial stress. &#8226; Board members participated in a simulation exercise to test the efficacy of the available management actions in the event of an operational crisis with severe financial implications. The Board subsequently received an update on the actions resulting from the exercise. Key decisions &uuml; Approved the Group Recovery Plan. Technology, operations and resilience &#8226; Considered the Group&#8217;s annual operational resilience self-assessment and management actions to enhance recovery capability for the Group&#8217;s Important Business Services. &#8226; Board members participated in a series of formal and informal briefings with the Group Chief Security Officer on cybersecurity risk and crisis response, focusing on governance and Board decision-making in the event of a crisis-level cybersecurity incident. The briefings culminated in a Board-level tabletop exercise. &#8226; Participated in a deep dive session on the responsible use of generative artificial intelligence (AI) and considered the opportunities and risks relating to the use of