What is Risk Committee?
A critical component of Corporate Governance is to have a strong Board. To do the assigned tasks effectively, the Board of Directors form different committees and one such committee to perform the responsibilities of Risk is Risk Committee.
Role of Risk Committee
The Risk Committee is responsible for setting the risk appetite, independently monitoring risk management, maintaining contact with auditors supervising all Risks.
Why is it essential to know Risk Committee?
The Risk Committee is the ultimate owner of Risk Management practices in the Bank. So, it is critical to know the core responsibilities of the Board Risk Committee and Management regarding Risk Management practices.