Company: UVSP
Filing Date: 2025-03-14
Form Type: DEF 14A
Source: 0000102212-25-000009
Chunk: 54

Company: UNIVEST FINANCIAL Corp
Filing Date: 2025-03-14
Form: DEF 14A
Chunk 54
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 actively participate in the following committees: Executive Committee, Audit Committee, Compensation Committee, Nominating and Governance Committee, Enterprise-Wide Risk Management Committee, Community Reinvestment Act Committee and Trust Committee. The active participation in these committees in addition to the Board of Directors' meetings provides the independent members of the Board the necessary insight into the daily operations of the Corporation.

All nominees to the Board of Directors will be evaluated in the same manner, regardless of whether they are recommended by the Nominating and Governance Committee or recommended by a shareholder.

#### Risk Management
Risk management is the cornerstone of banking and is integral to the daily operations of the Corporation. The Board of Directors oversees the risk management functions of the Corporation through the Enterprise-Wide Risk Management Committee, which currently consists of the Chairman, President and Chief Executive Officer of the Corporation, and four independent Directors of the Board. The Chief Risk Officer, Chief Financial Officer and Bank President attend each meeting, and additional members of management regularly present at the Enterprise-Wide Risk Management Committee meetings. The Enterprise-Wide Risk Management Committee met four times during 2024 and is chaired by Thomas M. Petro. Oversight responsibilities of the Enterprise-Wide Risk Management Committee are designed to assist the Board in understanding the risks inherent in the business functions of the Corporation and to assess, monitor, control and mitigate the risks associated with these functions. These risks include, but are not limited to: asset quality, internal audit, BSA/AML, compliance, credit (commercial, consumer, residential mortgage), cyber security, earnings, information security, information technology, interest rate, legal, liquidity, market, operational, pricing, regulatory, reputation, strategic, third-party vendor, transaction, and other emerging risks.

In addition to this committee, there is also an Enterprise-Wide Risk Management management-level committee, which met four times in 2024, consisting of members of management representing various line of business and areas of support tasked with identifying and addressing the risks to the Corporation. Minutes from these meetings are provided to the Enterprise-Wide Risk Management Committee, and minutes from the Enterprise-Wide Risk Management Committee are reported to the full Board of Directors. The Chief Risk Officer reports directly to the Audit Committee and administratively to the Chairman, President and Chief Executive Officer of the Corporation. The Chief Risk Officer also attends meetings of the Board of Directors, Executive Committee, Audit Committee, Compensation Committee, Enterprise-Wide Risk Management Committee, Trust Committee and Community Reinvestment Act Committee, as well as numerous management level committee meetings, in order to better understand the