Board Risk Committee
What is Board Risk Committee?
A committee of the board of directors specifically responsible for overseeing the organization's risk management framework and risk appetite.
Terms that appear alongside board risk committee
Each of these is named in at least one of the same controls as board risk committee. The number is how many controls name both.
- risk committee 9 shared controls
- audit 6 shared controls
- compliance 5 shared controls
- risk appetite 4 shared controls
- governance 4 shared controls
- ciso 3 shared controls
- remediation 3 shared controls
- regulatory reporting 3 shared controls
Frameworks that govern board risk committee
What the standards actually require on board risk committee
Requirements naming board risk committee across 3 standards, quoted from the control text.
The Chief Risk Officer must report directly to the Chief Executive Officer and must have regular and unfettered access to the Board and the Board Risk Committee.
CPS220-P40 · Chief Risk Officer Reporting Lines and Board Access →HKMA TM-G-1 implementation roadmap + status. ORGANIZATIONAL ROLES at AI: (a) BOARD + RISK COMMITTEE - TM-G-1 governance oversight + Technology Risk Management Framework approval + Risk Appetite + Pillar 2;
HKMA-TMG1-Implementation-Roles-Tooling-Status · TM-G-1 Implementation Roadmap, Roles, Tooling, Status and Future →Establish Board oversight of Open Banking risk through Board Audit Committee + Board Risk Committee with quarterly reporting + executive responsibility + Open Banking Manager appointment + risk appetite statements.
NGOB-8 · Board Oversight, Business Continuity, and Open Banking Risk Governance →Questions people ask about board risk committee
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