Why does good Risk Governance matter and what does good look like?
The Risk Coalition is an association of not-for-profit professional bodies and membership organisations committed to raising the standards of risk management in the UK. The Risk Coalition launched the Risk Guidance Initiative in 2018 to meet the need for coherent, principles-based good practice guidance for board risk committees and risk functions within the UK financial services sector. The outcome of this work is Raising the Bar published in December 2019.
In developing this guidance, the Risk Coalition has drawn on industry, academic and regulatory best practice and consulted widely, including with the key UK financial regulators who are supportive of all work that raises risk standards across the industry.
In this special session, some of the coalition’s leading lights will introduce the coalition’s principles and guidance for board risk committees and risk functions.
The Risk Coalition’s objectives for its principles-based guidance are to:
• establish a common understanding of the purpose, role and activities of the board risk committee and risk function;
• provide a benchmark against which board risk committees and risk functions can be assessed objectively;
• raise the general standard of risk governance and oversight practice within UK financial services; and
• fill the gap in principles-based good practice risk guidance whilst recognising the presence of detailed regulation.
20 Fenchurch St,
12:00: registration and sandwich lunch;