SmartSuite for the Board Risk Committee Chair
The Board Risk Committee Chair leads the board committee that oversees risk appetite, the risk framework and management's handling of principal risks. They challenge the CRO and executive team, set the committee's agenda and report risk oversight to the full board.
Reports to:
What you own
- Chair the board risk committee and set its agenda
- Approve the enterprise risk appetite statement and tolerance limits
- Oversee the adequacy of the risk management framework and second line
- Review principal and emerging risks and management's responses
- Challenge executive risk reporting and assumptions
- Report committee conclusions to the full board
Where the role sits
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Reports to
Direct reports
Works closely with
GRC processes
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Owns
accountable for the process
Touches
contributes or approves
Depends on
consumes its output
How SmartSuite helps, suite by suite
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Suites that serve this role
Products this role uses most
How SmartSuite supports this role
Risk management. Gives committee members a read-only view of the live risk register, top risks and appetite breaches, so the pack is current on the day of the meeting.
Operational resilience. Shows important business services, impact tolerances and test results so resilience oversight is evidence-based.
Issues and actions. Shows which agreed management actions are overdue without asking for a status report.
Reporting. Delivers board-ready risk summaries and trends generated from source records.
Industry reference
The UK Corporate Governance Code (2024) makes the board responsible for risk management and internal control and expects a committee structure to oversee it. The Basel Committee's corporate governance principles (2015) call for a dedicated board risk committee at systemically important banks, chaired by an independent director.
In the United States the Dodd-Frank Act and the Federal Reserve's Regulation YY require bank holding companies above the asset threshold to maintain a risk committee with at least one risk-management expert. Insurers describe their oversight under the NAIC's Corporate Governance Annual Disclosure, and NACD guidance frames the chair's duties for other sectors.
In their words
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