Company: BCS
Filing Date: 2025-02-13
Form Type: 20-F
Source: 0000312069-25-000114
Chunk: 190

Company: BARCLAYS PLC
Filing Date: 2025-02-13
Form: 20-F
Chunk 190
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 including reviewing and recommending to the Board for approval the 2024 Barclays Operational Resilience Self- Assessment report, detailing the resilience risks which may impact Barclays&#8217; ability to recover its important business services within impact tolerance, and to ensure Barclays' plans align to enhanced expectations around appropriate measures to reduce risk to market integrity, financial stability, safety and soundness, and customer/client harm. &#8226; The Committee received updates on cybersecurity resilience and the results of internal and external tests of Barclays&#8217; performance against cybersecurity risk appetite Areas of focus Key role of Committee Conclusion / action taken Strategy Shareholder information Climate and sustainability report Risk review Financial review Financial statements Barclays PLC 2024 Annual Report on Form 20-F 99Governance Directors&#8217; report: Board Risk Committee report (continued)

Model risk i.e. the potential for adverse consequences from decisions based on incorrect or misused model outputs and reports. &#9642; To evaluate the appropriateness of the Model Risk Management Framework, including receiving updates on findings in relation to specific modelling processes. &#8226; The Committee reviewed and discussed regular updates on model risk, including progress in developing the Model Risk Management Framework, and in relation to the continued focus and momentum required to address increasing regulatory expectations. Compliance risk i.e. compliance risk is comprised of (i) laws, rules and regulation (LRR) risk and (ii) conduct risk, which is the risk of poor outcomes to customers, clients and markets, arising from the delivery of the Group's products and services. &#8226; To receive updates from management on conduct risk and consider performance against key conduct risk indicators and the status of initiatives in place to address those risks to further strengthen the culture of the business. &#8226; To review the effectiveness of the Conduct Risk Framework. &#8226; To oversee how Barclays mitigates the risk of non-compliance with LRR risk. &#8226; The Committee received regular updates on conduct risk and assessments of potential risks to the Group following market events. &#8226; The Committee received updates on lessons learned reviews undertaken in response to industry developments and events, and continued to monitor ongoing remediation activities. &#8226; The Committee received regular updates on the management of the Group&#8217;s financial crime risk and a dedicated deep dive on the financial crime control environment with a focus on inherent risk for sanctions, anti-bribery and corruption and anti-tax evasion facilitation. Legal risk i.e. the risk of loss or imposition of penalties, damages