Company: FMCCN
Filing Date: 2025-02-13
Form Type: 10-K
Source: 0001026214-25-000040
Chunk: 340

Company: FEDERAL HOME LOAN MORTGAGE CORP
Filing Date: 2025-02-13
Form: 10-K
Item: Item 15
Chunk 340
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 operational resiliency, and enterprise third-party governance programs. Specifically, the Operations and Technology Committee: (1) oversees our information, operations, and technology strategies and planning, and the implementation of technology initiatives critical to the achievement of our mission, strategy, and business objectives; (2) in conjunction with the Risk Committee, oversees our management of information (including cybersecurity), technology, operational resiliency, and enterprise third-party governance risk, including the possibility that these risks will adversely affect the achievement of our mission and business objectives; (3) oversees our information (including cybersecurity and information security), operational resiliency, and enterprise third-party governance programs, including risk and controls; (4) receives reports related to our technology strategy, practices, and management and potential for innovation from both EO&T and the business areas, as appropriate; and (5) reviews and recommends to the Board for approval the annual EO&T business plan, including relevant performance indicators, and evaluating EO&T against the plan. The Operations and Technology Committee also reviews capabilities for and adequacy of resources allocated to operations and technology enterprise-wide and monitors and evaluates trends in technology that may affect our strategy and business objectives. See MD&A – Risk Management – Operational Risk – Cybersecurity Risk – Cybersecurity Governance for additional information. 

Risk Committee

The Risk Committee, which consists entirely of independent directors, oversees on an enterprise-wide basis the company's risk management framework, including credit risk, market risk, liquidity risk, operational risk (including cybersecurity), compliance risk, climate-related risk, and strategic risk. The Risk Committee reviews and recommends the company's enterprise risk policy and Board-level risk appetite statements, metrics, and limits to the Board of Directors for approval, oversees management’s adherence to Board risk limits and approves any exceptions thereto with notice to the Board, and, among other responsibilities, reviews significant: (1) enterprise risk exposures; (2) risk management strategies; (3) results of risk management reviews and assessments; and (4) emerging risks. The Risk Committee also reviews our exposure to the potential negative impacts of climate change, oversees the development and implementation of our climate risk framework, and reviews capabilities for and adequacy of resources allocated to ERM. The Risk Committee also approves all decisions regarding the appointment or removal of the CRO, and the CRO reports independently to the Risk Committee. 

FREDDIE MAC  |  2024 Form 10-K231

Directors, Corporate Governance, and Executive OfficersCorporate Governance

Board Leadership Structure

The leadership structure established by