As Group Chief Risk Officer it is my role to provide risk management assurance to the Board and to challenge and direct the way we deal with risks.

We have successfully built a portfolio of risk businesses at Legal & General and we accept risk in the normal day to day running of our business providing it is consistent with the delivery of our strategic objectives. Good quality risk management is critical to our success and we have developed systems to ensure that risk management is an integral part of the way we run our business.

We have a very strong tradition of embedding risk management deep into the business. Our policy is to ensure that wherever possible, risks are identified and managed directly by operational management.

Managing Directors of business areas are therefore directly responsible for ensuring that risks are identified promptly and controlled effectively while also delivering against financial performance targets.