Company: KEY-PI
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000091576-25-000038
Chunk: 251

Company: KEYCORP /NEW/
Filing Date: 2025-02-21
Form: 10-K
Item: Item 7
Chunk 251
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 and approves significant policies relating to the risk areas overseen by the Audit Committee–Receives reports on enterprise risk–Meets bi-monthly–Convenes to discuss the content of our financial disclosures and quarterly earnings releasesBoard of Directors Risk Committee (a)–Assists the Board in oversight of strategies, policies, procedures, and practices relating to the assessment and management of enterprise-wide risk, including credit, market, liquidity, model, operational, compliance, reputation, and strategic risks–Assists the Board in overseeing risks related to capital adequacy, capital planning, and capital actions–Reviews and provides oversight of management’s activities related to the enterprise-wide risk management framework, which includes an annual review of the ERM Policy, including the Risk Appetite Statement, and management and ERM reports–Approves any material changes to the charter of the ERM Committee and significant policies relating to risk management, including corporate risk tolerances for major risk categoriesERM Committee–Chaired by the Chief Executive Officer and comprising the Chief Risk Officer and other senior level executives–Manage risk and ensure that the corporate risk profile is managed in a manner consistent with our risk appetite–Oversees the ERM Program, which encompasses our risk philosophy, policy, framework, and governance structure for the management of risks across the entire company–Approves and manages the risk-adjusted capital framework we use to manage risksDisclosure Committee–Includes representatives from each of the Three Lines of Defense–Meets quarterly to review recent internal and external events to determine whether all appropriate disclosures have been made in reports filed with the SEC–Convenes quarterly to discuss the content of our 10-Q and 10-KTier 2 Risk Governance Committees–Includes attendees from each of the Three Lines of Defense–The First Line of Defense is the line of business primarily responsible to accept, own, proactively identify, monitor, and manage risk–The Second Line of Defense comprises Risk Management representatives who provide independent, centralized oversight over all risk categories by aggregating, analyzing, and reporting risk information–Risk Review, our internal audit function, provides the Third Line of Defense. Its role is to provide independent assessment and testing of the effectiveness of, appropriateness of, and adherence to KeyCorp’s risk management policies, practices, and controls–Supports the ERM Committee by identifying early warning events and trends, escalating emerging risks, and discussing forward-looking assessmentsInternal Audit–Provide the KeyCorp Board and management with independent, risk-based, and objective assurance, advice, insight, and foresight.–Conducts