Company: HBCYF
Filing Date: 2025-02-20
Form Type: 20-F
Source: 0001089113-25-000040
Chunk: 425

Company: HSBC HOLDINGS PLC
Filing Date: 2025-02-20
Form: 20-F
Chunk 425
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 the need for: continued focus on paper quality and content to increase focus on the most significant enterprise and emerging risks; ongoing refinement of the GRC agenda to streamline and enable greater attention to strategic risk areas; continued additional educational and ‘deep dive’ sessions outside of the formal schedule of meetings to allow for greater debate, insights and learnings, coupled with other mechanisms to guide the scheduled Committee discussions; ongoing work with Management to ensure effective and timely follow up to Committee challenge. The collaboration across the GRC, GAC and GTOC agendas, via the Committee Chairs, will continue in 2025. The outcomes of the performance review have been reported to the Board, and the GRC will track the progress in implementing recommendations during 2025. Further details of the annual review of the Board and Committee effectiveness can be found on page 287 . Focus of future activities The GRC’s focus for 2025 will include the following activities: – to continue to monitor the effective delivery of risk transformation programmes and to seek assurance that the enhanced capabilities have been fully embedded into the business; – to support the continued enhancement of the Group's risk appetite and risk management frameworks further to the improvements made in 2024, particularly in light of continued geopolitical and macroeconomic headwinds; – to continue to assess the Group's operational resilience capability and to track the completion of the programme of work required by the PRA rules coming into effect in March 2025; – to continue to support and challenge the remediation activities identified to enhance Model Risk Management capabilities in line with SS 1/23; – to continue to oversee treasury risk to strengthen our capital and liquidity management capabilities; – to continue the oversight of recovery and resolution planning activities to assess our capabilities if such a situation arises, with particular focus on our Trading Activity Wind Down obligations; – to monitor delivery against our climate ambitions and the development of appropriate data and model management tools and capabilities; and – to continue to oversee financial crime risk and the strengthening of the financial crime control framework, including proactive management by the business.

| 306 | HSBC Holdings plcAnnual Report on Form 20-F |

Report of the Directors | Corporate governance report | Board committees

Group Technology and Operations Committee

|                                                             |                                                                                                                                    | “The Committee oversees all aspects of the Group’s technology and operationsstrategies, which enable the efficient provision of resilient, sustainable, and innovativeproducts and services to our customers.“ |                            |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
| Eileen MurrayChairGroup Technology and Operations Committee |