SmartSuite for the Risk Committee Member
A Risk Committee Member sits on the executive or board risk committee and reviews the organisation's principal risks, appetite breaches and treatment progress. They bring a functional perspective to risk decisions and approve escalations within the committee's mandate.
What you own
- Review principal and emerging risks presented to the committee
- Challenge risk assessments, scoring and treatment plans
- Approve risk acceptances and escalations within the committee's mandate
- Monitor key risk indicators against appetite
- Confirm that agreed actions are completed
- Represent their function's risk perspective in committee decisions
Where the role sits
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Reports to
Direct reports
Works closely with
GRC processes
The shared GRC process map, highlighted for this role.
Owns
accountable for the process
Touches
contributes or approves
Depends on
consumes its output
How SmartSuite helps, suite by suite
Each card is the persona record from that suite's Users tab.
Suites that serve this role
Products this role uses most
How SmartSuite supports this role
Risk management. Provides committee members with a live view of the risk register, KRIs and appetite breaches rather than a static pre-read.
Issues and actions. Shows treatment plan status and overdue actions for the risks the committee owns.
Reporting. Generates committee packs from current data with heat maps and trend views.
Industry reference
COSO ERM (2017) and ISO 31000:2018 describe what a risk committee reviews: appetite, emerging risks, key risk indicators and whether treatments are closing on time. The committee is the point where the second line's reporting meets executive and board decision-making.
Banking regulation prescribes the forum. The Basel Committee's corporate governance principles expect a board risk committee at large banks, and the Federal Reserve's Regulation YY sets membership rules for bank holding companies. Insurers evidence the same under Solvency II and the NAIC ORSA; public bodies follow OMB Circular A-123, which asks agencies to maintain an ERM governance body.
In their words
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