New risk committee structure
13 Jan 2025
In a dynamic and constantly changing world, our products and services are always evolving to meet the needs of our stakeholders. This means that we are continuously reviewing and refreshing our approach to 'Doing Business the Right Way' – our internal risk, control, compliance and quality programme.
Through our integrated approach to risk management, we have regional, divisional and functional committees reporting to a Group Risk Committee, which manages, assesses and promotes the continuous improvement of our risk management, controls and assurance systems. Having adjusted our business model to report revenue, operating profit and margin across five divisions in 2023, we aligned our risk committee governance structure to support risk management in these divisions during 2024.
As we have welcomed many new colleagues since the launch of 'Doing Business the Right Way' in 2017, we also took the opportunity to refresh and set expectations for all risk committee members around the world. This included training on our processes and further reviews of global risk committee membership to ensure the right balance of functional, divisional, location and skill representation.
