[Legal & General]
Annual Report and Accounts 2010

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Group Risk Committee Report.

DURING 2010, THE ROLE OF THE BOARD IN RISK GOVERNANCE WAS THE SUBJECT OF MUCH COMMENTARY. OUR BOARD CLOSELY MONITORED DEVELOPMENTS IN THIS AREA. IN LINE WITH BEST PRACTICE, THE GROUP RISK COMMITTEE IS CHAIRED BY A NON-EXECUTIVE DIRECTOR AND ITS MEMBERSHIP COMPRISES INDEPENDENT NON-EXECUTIVE DIRECTORS.

JOHN STEWART
CHAIRMAN

RESPONSIBILITIES

John Stewart, Chairman (photo)

JOHN STEWART
CHAIRMAN

  • Advise the Board on the Group’s overall risk appetite for each of the categories of risk to which the Group may be exposed.
  • Oversee the management of those risks.
  • Monitor the impact of the principal risks on the Group’s strategy and consider changes arising as a consequence of the Group’s strategy, or market and regulatory events.
  • Advise the Board on the adequacy of the Group’s overall risk framework and recommend any necessary changes to the Board.
  • Review the Risk Management section to be included in the Group’s Annual Report and Accounts and to make a recommendation to the Board regarding its acceptance.

The full terms of reference for the Committee can be found on our website.