Company: BCS
Filing Date: 2025-02-13
Form Type: 20-F
Source: 0000312069-25-000114
Chunk: 186

Company: BARCLAYS PLC
Filing Date: 2025-02-13
Form: 20-F
Chunk 186
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 its members, Committee meetings were attended by representatives from senior management, including the Group Chief Executive, Group Chief Risk Officer, Group Finance Director, Group Chief Internal Auditor, Group Treasurer, Group Chief Compliance Officer and Group General Counsel, as well as representatives from the businesses and additional colleagues from the Risk and Compliance functions. The lead audit engagement partner of KPMG also attended Committee meetings. The Committee held regular private sessions with each of the Group Chief Risk Officer and the Group Chief Compliance Officer, without other management present. Role of the Committee The Committee is responsible for reviewing, on behalf of the Board, management&#8217;s recommendations on the principal risks as set out in the ERMF (with the exception of reputation risk with strategic implications relating to the Group, which is a matter reserved to the Board), and in particular: &#8226; reviewing, on behalf of the Board, the management of those principal risks in the ERMF &#8226; considering and recommending to the Board the Group&#8217;s risk appetite and tolerances for those principal risks &#8226; reviewing, on behalf of the Board, the Group&#8217;s risk profile for those principal risks &#8226; commissioning, receiving and considering reports on key risk issues &#8226; safeguarding the independence, and overseeing the performance, of Barclays&#8217; Risk and Compliance functions. The Committee&#8217;s terms of reference are available at home.barclays/who- we-are/our-governance/board- committees/ Strategy Shareholder information Climate and sustainability report Risk review Financial review Financial statements Barclays PLC 2024 Annual Report on Form 20-F 97Governance Directors&#8217; report: Board Risk Committee report (continued)

Primary activities The Committee discharged its responsibilities in 2024 through reviewing and monitoring Group exposures in the context of the current and emerging risks facing the Group. The Committee seeks to promote a strong culture of disciplined risk management. Risk framework and governance &#8226; To review the design of the ERMF and recommend to the Board for approval any relevant changes. &#8226; To track the progress of significant risk management projects. &#8226; To consider risk management matters raised by Barclays&#8217; regulators and monitor the actions being taken by management to respond. &#8226; To review the effectiveness of the Group&#8217;s risk management systems. &#8226; The Committee reviewed and recommended to the Board updates to the ERMF to elevate financial crime to a principal risk, include