Company: TFC
Filing Date: 2025-03-17
Form Type: DEF 14A
Source: 0001193125-25-055156
Chunk: 36

Company: TRUIST FINANCIAL CORP
Filing Date: 2025-03-17
Form: DEF 14A
Chunk 36
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 in the first line of defense operate at the point where risks originate–either through serving clients directly or providing functional services and support. BU Risk Owners are responsible for risks within their business, including the identification, escalation, mitigation, and management of risks. The GCO standardizes first-line risk execution and ownership across the Company in partnership with the business units and enterprise functions. As part of the first-line of defense, the GCO provides risk advice and oversight, issues management, testing, reporting, and business continuity expertise to first-line execution efforts. |

| • | Second Line of Defense. The second line of defense provides independent risk management, oversight, and challenge of the first line of defense. The second line of defense resides within the RMO, which establishes policies and procedures to guide and oversee the execution of ERM Framework requirements across Truist and independently identify and escalate issues. |

| • | Third Line of Defense. Truist Audit Services (Truist’s internal audit function) provides independent and objective assurance for Truist by evaluating the design and effectiveness of risk management activities, oversight, and challenge. Results are reported to senior management and the Board of Directors according to the Audit Services Policy. |

| 32 |     | | 2025 Proxy Statement |

Corporate Governance Strategic Direction and Planning One of the Board’s most important responsibilities is to provide oversight, guidance, and direction with respect to Truist’s Corporate Strategic Plan (“Strategic Plan”). The Strategic Plan is designed to translate the Company’s Purpose, Mission, and Values into actionable priorities which provide direction for Truist. The Company’s strategic planning process: (i) includes an independent risk evaluation to confirm that strategic activities are consistent with the Board-approved risk appetite (including corresponding limits and warning thresholds); (ii) reflects alignment with Truist’s capital planning; and (iii) takes into consideration enterprise objectives, corresponding business unit objectives, and operating plans. Board input on these factors informs management’s updates to the Strategic Plan, which are generally presented to the Board for adoption on an annual basis. The resulting Strategic Plan guides Truist’s activities for the applicable years, and implementation of the Strategic Plan is monitored by the Enterprise Strategy and Execution Committee and the Board. The Board also approves the annual Profit Plan, which is a detailed one-yearfinancial plan that outlines our goals for generating revenue, managing expenses, and maintaining a strong framework for managing capital, liquidity, interest rate, and credit risk. After the sale of the Company’s remaining interest in Truist