Strategic Shareholder Climate and Risk Financial Financial Barclays PLC 185 report information sustainability report Governance review review statements Annual Report 2022 Directors’ report: Board Risk Committee report (continued) Areas of focus Matters addressed Role of Committee Conclusion/action taken Conduct robust reviews • To monitor the Group's legal risk The Committee received regular updates on the Legal Legal risk of any current and profile, including considering potential risk faced by the Group, including horizon scanning for emerging legal risks faced material emerging legal risks. key areas of emerging legal risk and Barclays' ability to by the Group. manage these and other risk trends. ▪ To track the progress of significant The Committee discussed the annual refresh of the The frameworks, policies Risk framework and tools in place to risk management projects, achieving Principal Risk Frameworks as well as recommending the and governance support effective risk compliance with the Basel Committee updated ERMF to the Board for approval. Updates management and on Banking Supervision (BCBS239) included: (i) the addition of Climate risk as a Principal oversight. risk data aggregation and risk Risk; and (ii) the removal of Brexit as a standalone item in reporting principles. the risk factors. • To assess risk management matters The Committee continued to oversee management's raised by Barclays’ regulators and the progress towards achieving full compliance with all actions being taken by management aspects of BCBS239, receiving regular reports on levels to respond. of compliance and expected milestones. • To review the design of the ERMF. The Committee reviewed reports from management on guidance, letters and reviews received from regulators. The Committee examined management's responses to the matters raised and monitored remediation programmes. The scope of any risk • To debate the Risk and Compliance The Committee considered reports of the Group Chief Remuneration adjustments to be taken function’s view of performance, Risk Officer and the Group Chief Compliance Officer and into account by the Board making a recommendation to the considered the 2022 ex-ante risk adjustment Remuneration Board Remuneration Committee on methodology. Committee when making the financial and operational risk remuneration decisions factors to be taken into account in for 2022. remuneration decisions for 2022.
Barclays PLC - Annual Report - 2022 Page 186 Page 188